MOSCOW, November 5. /TASS/. Over the past day, the global crypto exchanges have eliminated the positions of 473,500 traders worth $2.03 billion, according the Coinglass platform.
Most of the liquidations occurred in the second largest cryptocurrency Ethereum ("ethereum", "ether", ETH) ($656.89 million). About $1.63 billion of liquidations accounted for long positions, and $400.61 million for short positions. The largest liquidation order in the last 24 hours was filed on the HTX crypto exchange in a BTC-USDT pair worth $47.87 million.
According to Binance, at 02:35 a.m. Moscow time, the price of bitcoin decreased by 5.11% to $101,191,000. The price of Ethereum decreased by 8.98%, to $3,277,000.
According to Coinmarketcap, the capitalization of the entire cryptocurrency market stood at $3.36 trillion. Bitcoin accounts for $2.016 trillion (60.1%), Ethereum for $395.312 billion (11.8%).
Cryptocurrency liquidation is a forced closure of a trading position by an exchange when using leverage (a mechanism that allows a trader to manage a position using borrowed funds from an exchange or broker) due to a lack of funds to support the transaction. It occurs when losses on an open position exceed the size of the initial trade to protect the trader from debts and the exchange from risks.