In the past 1 hour, the entire network liquidated 31.9 million U.S. dollars, and long orders accounted for 98.2% of liquidated positions.
Coinglass data shows that in the past hour, the entire network has liquidated $31.9 million, with $14.64 million in BTC liquidation and $3.64 million in ETH liquidation; long positions have been liquidated for $31.35 million, accounting for about 98.2%.
Bitcoin's Price Rally Leads to $230 Million in Liquidated Bearish Futures Contracts and Increase in Open Interest
The recent surge in Bitcoin's price has resulted in the liquidation of $230 million worth of bearish futures contracts, while the open interest in BTC futures has increased from $13.1 billion to $14 billion. The increase in futures open interest suggests that demand for new leveraged positions outpaced forced closures, indicating a "gamma squeeze" caused by arbitrage desks being forced to hedge short positions. There are several theories circulating on social media, including Changpeng Zhao using BNB as collateral for margin on Venus Protocol to shore up the price of BNB token, but these speculations cannot be confirmed. Despite ongoing speculation regarding the approval of a spot Bitcoin ETF, there is enough evidence to support a healthy influx of funds, justifying a rally beyond the $35,000 mark.
In the past 24 hours, the entire network liquidated 336 million U.S. dollars, with the main liquidation of short orders.
According to Coinglass data, the entire network liquidated 336 million US dollars in the past 24 hours, of which long positions liquidated 65.55 million US dollars and short positions liquidated 271 million US dollars.
Crypto market liquidations in the past 24 hours were nearly $180 million, 75% of which were short positions
With BTC surging to $31,000, there has been a large-scale liquidation in the cryptocurrency market. CoinGlass data shows that the cryptocurrency market has seen nearly $180 million in liquidations in the past 24 hours, with 75% being short positions. Bitcoin futures contracts contributed the largest portion to the liquidation wave, followed by Ethereum, and then altcoins Chainlink (LINK) and Solana (SOL).
The entire network liquidated $102 million in the past 24 hours
According to Coinglass data, in the past 24 hours, the total liquidation on the entire network was $102 million, with long positions liquidated at $56.13 million, BTC liquidated at $38.4 million, ETH liquidated at $24.1 million, and CYBER liquidated at $3.91 million.
ETH has $48.6 million on-chain loan liquidation at 1,547 USDT
According to DefiLlama liquidation data, there is a $48.6 million on-chain loan liquidation for ETH at 1,547 USDT. The subsequent large liquidation prices are:
1,445 USDT, liquidation amount of $30.2 million;
1,428 USDT, liquidation amount of $39.9 million;
1,207 USDT, liquidation amount of $94.5 million.
In the Past 24 Hours, the Liquidation of the Entire Network Reached 168 Million US Dollars, and Empty Orders Accounted for More Than 70%
According to Coinglass data, due to the short-term rise in the cryptocurrency market, the total amount of liquidation across the network in the past 24 hours has reached 168 million US dollars, of which the amount of short liquidation has reached 118 million US dollars (accounting for about 70.2%), and the amount of long liquidation is about 50.3179 million US dollars.
CRV liquidation price may be around $0.29 instead of $0.37
Earlier today, the price of Curve token (CRV) hit a historical low of $0.45. The recent decline of the token has dangerously approached the $0.37 mark, which would trigger the liquidation of multiple CRV support loans held by Curve Finance founder Michael Egorov.
27 BAYCs Are Facing Liquidation in BendDAO
On August 21st, according to information from NFT lending protocol BendDAO, 27 BAYC tokens on the platform are facing liquidation. Currently, 6 BAYC tokens have a health score of less than 1.05 and 21 BAYC tokens have a health score of less than 1.10. At the time of writing, the floor price of BAYC NFTs in the BendDAO series is 25.22 ETH, which is 1.76 ETH higher than the floor price of BAYC NFTs in the Blur NFT trading platform's series.
Arkham: As BNB fell below $220, the BNB Chain team recovered 146,150 hacked BNB
Arkham posted on social media platform X that BNB Chain has recently started liquidating accounts that stole $570 million from its bridge in October 2022. Last year, hackers exploited a vulnerability in the BNB Bridge to steal 2 million BNB tokens from the Token Hub on BNB Chain. The hackers did not sell the tokens, but instead deposited 900,000 BNB into Venus Protocol and borrowed nearly $150 million in stablecoins. Since October 2022, the hackers have held onto this position for almost a year without any interaction with the Venus contract.
Before the liquidation, their account still held $204.1 million worth of BNB on Venus. If sold all at once, this would trigger a spiral liquidation. Therefore, the BNB Chain core team proposed to Venus management to take over the hackers' debt and whitelist their account for gradual liquidation. BNB Chain's account transferred $60 million worth of USDT from Binance and was sent in June 2023.
On Thursday, the price of BNB fell below $220 for the first time, triggering the liquidation of this position. The BNB Chain team took out $30 million in debt through three separate transactions, obtaining 146,150 hacked BNB tokens.
BNB Chain's liquidation account still holds $30 million in USDT to pay off more debt, with a total debt of over $124 million. BNB Chain will also be able to liquidate the hackers' position again at a price of $211.
