Crypto’s Largest Liquidation Event Wiped Out $19.15B One Year Ago
A year ago, the crypto market saw its largest liquidation event, erasing more than $16.69 billion in longs and $2.46 billion in shorts in a single day.
Exactly one year ago, the crypto market experienced what was described as the largest liquidation event in its history. The move erased more than $16.69 billion in long positions and $2.46 billion in short positions over the course of a single day.
When combined, those figures point to more than $19.15 billion in liquidations. The long-side losses were considerably larger than the short-side losses, highlighting the severity of the downward pressure on leveraged bullish positions.
The post presents the data as a one-year throwback. It notes that most market participants are still trying to recover from the event, underscoring how long the financial impact of extreme deleveraging can last.
Source: Cointelegraph