Ethereum Wipeout is leading the liquidation of $545 million.

• Ethereum leads $236 million in liquidation, causing a widespread market wipeout.
• Short traders hit the most violently, while Bitmex shows a short quenching of almost 99%.
• Binance surpasses the liquidation value and clears $155 million amid obstacles in leveraged locations.

Over 144,000 traders have cleared their leverage positions over the past 24 hours, revealing that liquidation totals $545.95 million across major crypto exchanges. Data released by the Phoenix Group on July 17 shows Ethereum (ETH) at the heart of the event, leading all assets in a forced liquidation of $236.57 million. The figures highlight the rapid shift in market sentiment that has caused one of the biggest liquidation in recent weeks.

Ethereum accounted for almost half of all liquidation losses, reinforcing its role as a key target for overcovered transactions during a sudden price swing. Bitcoin followed $69.56 million in liquidated workplaces. The XRP came in third place, losing $35.79 million. Together, these three assets represent more than $340 million in total liquidation during the observed period.

Altcoins also recorded major losses. Solana recorded $24 million in liquidation, while Shiba Inu won $13.77 million. Other tokens affected include Notcoin ($5.07 million), Game Pump ($4.96 million), Floki Premium ($4.49 million), and some Meme tokens. Dogecoin saw a $5.66 million liquidation, while Pepe and Wojak lost $4.39 million and $4.06 million, respectively.

In exchanges, we see that the long and short liquidation trends are divergent.

Bitmex registers the highest percentage of short liquidation at 98.96%, indicating a concentration of traders betting on price declines. Other platforms with strong shortside liquidation include lipids (72.19%), GATE (70.69%), and HTX (68.63%). Bybit and OKX showed high short liquid ratios at 66.65% and 65.21%, respectively.

In contrast, Coinex had the opposite trend as the long position contributed to a 62.33% liquidation. This paradox means that other traders are bullish and stretching to the longer side despite the general bearish mood in various exchanges. The largest overall liquidation was HTX, where the $3.21 million position of ETH/USDT was liquidated.

Binance exceeds the total liquidation value

The vinance was the highest in terms of liquidation amount, totaling 155.15 million. The value appears to be high due to the market advantage of the platform and the number of leverage positions users take.

Big losses remind us of the risk of high-pitched trading in speculative markets. As price directions changed, short bias positions were particularly affected, resulting in a broad pattern of liquidation. This trend indicates that traders engaged in high leverage face poor risk management hurdles.