The cryptocurrency market has experienced substantial liquidations amid heightened volatility. Over the past 24 hours, liquidations ranged from approximately $779.5 million to over $865 million, with some reports noting $810 million liquidated, including $734.5 million from long positions and $76.2 million from shorts. Earlier figures indicated $805 million wiped out within a day. In the last hour alone, liquidations reached between $56 million and $125 million. More recently, the market saw $331 million liquidated in 24 hours, with $240 million from longs and $90 million from shorts. Additionally, a significant risk looms for Bitcoin shorts, with $18 billion worth of short positions facing liquidation if Bitcoin's price hits $125,000. Trade activity on decentralized exchanges also shows notable developments, with MEMELORD recording a $116,250 inflow in 24 hours, 42 times its recent average, and Hyperliquid achieving a record $320 billion trade volume in July, representing a 47% increase and controlling 75% of the perpetual decentralized exchange market, despite its native token HYPE struggling to gain value.
Hyperliquid is breaking records. Trade volume up 47% in July to ATH of $320bn. It now controls 75% of perp dex market. And yet, HYPE is struggling to catch a bid. What gives?
Spotted on AI Signals: MEMELORD has had a DEX inflow of $116.25K in the last 24h (42x the recent average) https://t.co/DoUQtNDgws
$18 BILLION of shorts will get obliterated when Bitcoin hits $125,000 https://t.co/w4inzm8LC1