The crypto landscape has gone through a huge wave of liquidations over the past twenty-four hours. As per the data from Phoenix Group, a cumulative $1B has left the market over 24 hours. The liquidations have come as a result of fear due to a US attack on Iran’s nuclear sites and the resultant warning by Iran to close the Strait  of Hurmuz.

$1 billion Leaves Crypto Market as Bybit, Binance, and Gate.io See Largest Daily Liquidations

The market data reveals that, as $1B has left the market in terms of liquidations, 178,403 crypto traders got liquidated in this respect. In the case of crypto exchanges, Bybit led the others with $310.76M in liquidations. This figure accounts for 6.21% in short positions and 93.79% in long positions. Subsequently, Binance’s liquidation of $151.85M denotes 19.86% shorts and 8.14% longs. Following that, Gate.io has recorded $88.28M in liquidations, accounting for 13.75% shorts and 86.25% longs.

In addition to this, OKX saw $82.33M in liquidations. This amount highlights 80.28% in longs and 19.72% in shorts. After that, HTX’s daily liquidations take into account $72.07M in terms of value. In this respect, the longs dominated 94.71% of the liquidations while the shorts occupied 5.29%. Coming after that, Coinex has seen $4.28M in total liquidations. Particularly, 96.33% of this amount was liquidated in longs, whereas the shorts claimed 3.67%.

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Along with that, Bitfinex went through a liquidation of $1.10M, denoting 24.25% in shorts and 75.75% in longs. Additionally, BitMEX beheld total liquidations equaling $1.07M. 89.31% of these liquidations were in longs and 10.69% in shorts.

$ETH, $BTC, and $SOL Lead Top Cryptocurrency Assets Based on Liquidations

When it comes to top crypto assets, Ethereum ($ETH) dominates others in liquidations with a massive 133.28K $ETH. This amount equals $300.32M. Bitcoin ($BTC) succeeds with 1.50K $BTC in liquidations (equaling $154.24M). Solana ($SOL) accounts for 241.26K $SOL (up to $32.05M) in its liquidations. The other crypto assets witnessing huge liquidations include $XRP, $DOGE, $SUI, $FARTCOIN, $FUN, $ENA, $WIF, $PEPE, and $OP. Overall, HTX has seen the single largest liquidation of $712.23M in the $ETH/$USDT pair.