Crypto Sees $1B in Liquidations as $30M Ether Wipeout on Hyperliquid Draws Attention

Crypto markets saw over $1.19 billion in liquidations in the past 24 hours, with longs accounting for nearly 90% of the wipeout. More than 260,000 traders were hit, according to CoinGlass.

Ether led the losses at $448 million, followed by Bitcoin at $278 million. The single largest trade closure was a $29.1 million ETH-USD long on Hyperliquid, underscoring the growing role of decentralized perpetual exchanges. Bybit handled $311 million in liquidations, Hyperliquid $281 million, and Binance $243 million.

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