As the prices for Bitcoin, Ethereum, and other cryptocurrencies stayed in the red late Monday, investors saw nearly half a billion dollars in positions liquidated in 24 hours. Of $489 million in liquidations, the vast majority—over $432 million—slammed long positions, according to aggregated crypto market data from CoinGlass.
Most of the day’s liquidations came in the past 12 hours, as the price of Bitcoin fell as low as $64,548 late Monday and the price of ETH dipped to $3,384, leaving both down more than 5% over the prior seven days.
The overnight figures continued a flood of liquidations observed yesterday, vaporizing $290 million in mostly long positions.
About 200,000 traders were liquidated over the last day, per CoinGlass. Per the site’s metrics, the largest single liquidation order happened on Binance, a $6.4 million long bet on Ethereum.