A 24-hour crypto liquidation tally reported Friday reached $1.652 billion, with Binance accounting for 49.8% and long positions making up most closures across the market.
Binance’s share was 49.8% of the reported value. A single position on Binance’s Bitcoin (BTC)/Tether (USDT) market accounted for about $11.09 million, the largest such closure. The pair is listed as BTCUSDT. The exchange share covers its portion of the marketwide tally; the $11.09 million figure refers to one position within it.
Long positions made up most of the forced closures. The 24-hour total aggregates positions closed across the market. A liquidation occurs when an exchange closes a leveraged position after its margin falls below the required level.
EconoTimes previously covered a separate $525 million liquidation episode led by long positions.
