Crypto Liquidations Reach $361 Million as Longs Take 84% of Losses

Crypto traders faced $361.0 million in forced liquidations across 67,567 orders during the 24 hours ending Oct. 12 at 8:04 p.m. ET (Oct. 13, 00:04 UTC), with leveraged long positions absorbing most of the losses. Long liquidations totaled $303.3 million, representing 84% of the period’s total. Short positions accounted for the remaining $57.7 million. A liquidation occurs when an exchange forcibly closes a leveraged position after losses reduce the trader’s available margin. The latest total was substantially higher than the $70.71 million recorded in earlier TokenPost coverage of crypto liquidations . Binance posted the largest exchange-level total at $258.1 million.

Source: TokenPost