173,000 crypto traders liquidated as $2.98B wiped out

CoinGlass data shows 173,214 traders were liquidated in a 24-hour window, with total losses hitting roughly $2.98 billion. Short positions accounted for $2.74 billion of that figure, or about 92% of all liquidated value. Long positions lost $242 million.

The single largest position to get margin-called was a $48.80 million BTC-USD trade on Hyperliquid, the decentralized perpetual futures exchange. Among centralized exchanges, Binance and OKX led the liquidation totals in a recent four-hour snapshot, with $16.44 million and $6.17 million respectively.

The prior day saw 63,222 traders liquidated for $196 million. The jump to $2.98 billion represents a roughly 15-fold increase in consecutive days. The all-time record for daily crypto liquidations remains October 10, 2025, when approximately $19.16 billion was wiped out.