The volume of liquidations on the crypto market exceeded $170 million over the past 24 hours

• From December 25 to December 26, the volume of liquidations on the crypto market amounted to $173.15 million.
• These are predominantly long positions. In addition to Bitcoin and Ethereum, some altcoins are also in the top.
• In particular, SOL and ORDI dropped by 6% and 8%, respectively, over the day.

Between December 25 and December 26, 2023, the volume of liquidations on the crypto market exceeded $170 million, according to CoinGlass. It is noteworthy that a significant share of losses occurs in altcoins.

At the time of writing, the daily volume of liquidations is $173.15 million with a predominance of long positions:

In addition to traditional Bitcoin and Ethereum, trading pairs with SOL and ORDI are among the leaders in terms of loss volume.

What is liquidation in trading? How to avoid it?

01.11.2021

15 minutes

6975

read

The native token of the Solana network has dropped by more than 6% over the past 24 hours, according to TradingView. It is still trading above $110, but within a few hours the uptrend has given way to a downtrend:

. Источник: TradingView. ” class=”wp-image-192114″ srcset=”https://incrypted.com/wp-content/uploads/2023/12/sol.jpg 1296w, https://incrypted.com/wp-content/uploads/2023/12/sol-300×97.jpg 300w, https://incrypted.com/wp-content/uploads/2023/12/sol-1024×333.jpg 1024w, https://incrypted.com/wp-content/uploads/2023/12/sol-768×249.jpg 768w” sizes=”(max-width: 1296px) 100vw, 1296px”>Курс SOL/USDT на бирже Binance. Source: TradingView

Despite this drawdown, SOL showed positive dynamics in 2023. More details about this in a separate article:

Decentralized Renaissance: What Drives the Recovery of the Solana Ecosystem

11/30/2023

29 min

4558

read

The situation with ORDI is similar.. The token rate dropped by almost 8% over the past 24 hours:

. Источник: TradingView. ” class=”wp-image-192115″ srcset=”https://incrypted.com/wp-content/uploads/2023/12/ordi.jpg 1296w, https://incrypted.com/wp-content/uploads/2023/12/ordi-300×97.jpg 300w, https://incrypted.com/wp-content/uploads/2023/12/ordi-1024×333.jpg 1024w, https://incrypted.com/wp-content/uploads/2023/12/ordi-768×249.jpg 768w” sizes=”(max-width: 1296px) 100vw, 1296px”>Курс ORDI/USDT на бирже Binance. Source: TradingView

Most of the remaining assets from the top 10 tokens by market capitalization also declined, according to CryptoRank:

Note that the largest amount of liquidations occurred on the Binance, OKX and ByBit exchanges. As with the market as a whole, these are predominantly long positions.