Crypto liquidations plunge over 80% as the market consolidates

Cryptocurrency liquidations declined 80.26% as the broader market consolidates amid low volatility and neutral sentiment.

According to data provided by Coinglass, total crypto liquidations currently sit at $42.4 million — in the past 24 hours. This shows that the broader cryptocurrency market hasn’t seen big movements.

Here’s what to know:

• Long positions are worth roughly $23.8 million
• Short trading positions, $18.5 million in liquidations.
• Ethereum (ETH) leads with $9 million in liquidations — $3.5 million longs, $5.5 million shorts.
• Notcoin’s (NOT) liquidations came in third after a group of small-cap crypto assets, reaching $3.9 million
• Bitcoin (BTC), secured the fourth spot reaching $3.25 million — with $2.44 million worth of long positions liquidated in 24 hours.
• Data shows that almost half of the liquidations, $20 million, come from Binance, the largest crypto exchange by trading volume.
• Seychelles-based exchange OKX has the second spot with $13 million in liquidations
• OKX accounts for over 30.7% of the global liquidations.
• Total cryptocurrency open interest increased by 0.2%, reaching $66.3 billion.

The global crypto market capitalization currently hovers at around $2.54 trillion, according to CoinGecko. 

BTC and ETH have been consolidating around the $66,000 and $3,500 marks over the past 24 hours. Both of the leading cryptocurrencies have been witnessing small movements as the broader market weathers neutral sentiment.