The cryptocurrency market has had a major impact on traders on multiple exchanges over the past 24 hours. According to recent data from Phoenix, Bitfinex achieved a top trading liquidation worth $144.68 million, with Bybit reaching $130.18 million, and Binance settled $94.77 million. Cryptocurrency Market has experienced significant exchange dependency liquidation in the last 24 hours, with OKX reaching $66.95 million, Gate.io liquidating $30.45 million, and HTX recorded $2,233 million.
Liquidation data in 24 hours
Total liquidation: Up to $4.7711 million
Top 5 coins with the best liquidation: …pic.twitter.com/fccqiabgmq
– Phoenix – Crypto News & Analytics (@PNXGRP) March 8, 2025
Cryptocurrency exchanges showed different percentages of short-term and long-term liquidation. The proportion of short to long liquidation on Bitfinex was roughly comparable, but we registered long liquidation of 75.39% and 71.54%, respectively. Despite a low total liquidation of $3.65 million and $1.99 million, Coinex and Bitmex showed the majority of market participants who have been reaching 95.19% for a long time.
Most liquidated assets and market impacts
Bitcoin ($BTC), the leading cryptocurrency, led its liquidation activity with a $29,612 million deal worth 3.43K BTC. Ethereum ($ETH) was the second strongest liquidated asset worth $54.98 million, adjusted to 25.39K ETKEN. Ripple (XRP) took the third position as the market witnessed a $19.74 million liquidation and exchanged 8.47 million tokens during that period.
Of the other digital assets, Solana ($sol) was the most liquidated worth $17.34 million, while Cardano ($ADA) lost $12.87 million, and DogeCoin ($doge) liquidated. Emerging tokens $ena and $auc suffered substantial liquidation, reaching $3.45 million and $2.45 million, respectively. The liquidation amount from Trump’s meme coin reached $2.71 million. This was similar to Kite’s $2.31 million liquidation total.
Maximum single liquidation order and market volatility
The largest liquidation order, worth $17.15 million, has been generated over the last 24 hours through the BTC/UST trading pair Bitfinex. Market volatility creates a large loss that forces large institutions to face massive capital depletion through the liquidation process.
Due to turbulence in the market, 135,560 traders experienced liquidation throughout this period. Risk management remains essential for traders to navigate the volatile cryptocurrency market.
