A Binance Investor Liquidated At $55.9 Million In Largest Order Of The Day

Key Points:

• A Binance investor was liquidated at $55.9M in the largest order of the day during a sharp market drop.
• ETH liquidations reached $308.49M, while BTC liquidation hit $500M on August 18th.
• Traders have faced sudden and significant losses due to extreme market volatility, with over $1.04B in liquidations in the past 24 hours.

During a sharp market drop, a Binance investor was liquidated at $55.9M in the largest order of the day. In total, ETH liquidations reached $308.49M, with BTC liquidation hitting $500M on August 18th. Traders have been hit hard by the volatility, with over $1.04B in liquidations in the past 24 hours.

During a sharp drop in the market, an investor in Binance’s ETH/BUSD contract was liquidated at $1,434.37 for $55.9211 million, making it the largest liquidation order of the day. According to Wu Blockchain, this could potentially be a market maker who hedges on other exchanges.

At the same time, a Binance BTCUSDT contract with nearly $10 million was also liquidated. CoinGlass reports that the total amount of liquidation of ETH today is $308.49 million, with the aforementioned investor’s liquidation accounting for almost 20% of the total ETH liquidation.

As of this writing, BTC liquidation reached $500 million. In the past 24 hours, crypto traders have experienced liquidations worth over $1.04 billion due to market volatility.

During this period, OKX recorded the most significant liquidations, with almost $308 million in long positions liquidated, followed closely by Binance, which saw $189 million in positions held by bulls being wiped out, according to CoinGlass.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.