Crypto Traders Suffer Over $300M of Losses in Liquidations

"The largest long liquidation in at least a month suggests Thursday’s crash in crypto prices has caught traders off-guard. Bitcoin traders suffered the most losses, some $112 million in the past 24 hours, while ether liquidations surpassed $73 million, per data from CoinGlass.

Crypto traders endured some $307 million of liquidations in the past 24 hours, data from CoinGlass shows, as crypto markets tanked Thursday on news about crypto-friendly bank Silvergate Capital (SI) winding down operations.

Traders on Binance, the world’s largest crypto exchange by trading volume, saw $104 million of losses, the most among exchanges, followed by $79 million of losses on OKX and $45 million on Huobi, per CoinGlass.

Bitcoin (BTC) traders suffered the most losses, some $112 million, while ether (ETH) liquidations surpassed $73 million.