UPDATE: Crypto liquidations reach $803 million as South Korean stocks slide
CIE News ·
Total crypto liquidations climbed to about $803 million across 10 exchanges, hitting 172,113 traders as South Korea's KOSPI plunged more than 6% and Bitcoin dropped below $81,000.
Crypto market liquidations climbed to approximately $803 million across 10 exchanges over a 24-hour period, according to data reported by CoinDesk. As previously reported, initial estimates indicated between $120 million and $167 million in positions had been wiped out during the downturn. Long positions made up $694 million, or 86% of the updated total, affecting 172,113 individual traders.
The majority of the liquidations occurred in a 12-hour period totaling about $595 million, coinciding with a drop of more than 6% in South Korea's KOSPI index and Bitcoin (BTC) declining to just under $81,000. Binance represented roughly half of all liquidated positions, including the day's largest single event, which was a $9.65 million BTC long closed near $81,773.
BTC led all assets with $181 million in forced closures, followed closely by Ethereum (ETH) at $178 million, while Solana (SOL) saw $60 million liquidated. CoinDesk reported that crypto perpetual futures tracking chipmaker SanDisk recorded $19.09 million in liquidations, exceeding the $18.78 million seen in XRP as semiconductor equities faced heavy selling.