CoinGlass reports $180.8M in liquidations, 79,277 traders affected

Bithumb’s Bitcoin Blunder Puts Burden on Users as Legal Case Favors Civil Recovery

In the past 24 hours, 79,277 traders were liquidated, amounting to a total of $180.84 million, as reported by CoinGlass. This massive wave of liquidations is attributed to recent cryptocurrency market volatility, which has caused significant price swings and triggered widespread liquidations in leveraged derivatives trading. The use of high-leverage perpetual futures positions has further exacerbated these liquidation cascades during the downturn.

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