Sudden crypto market crash leads to over $614 million in liquidations

Traders Union
All News
Crypto News
Crypto liquidation hits $614M

All news

Top Stories

Editors' Picks

Crypto News

Financial News

Currencies

Market Voices

Companies

Regulators News

Mirjan Hipolito

03.08.2025

Sudden crypto market crash leads to over $614 million in liquidations — $614M crypto liquidation shakes markets

Over the past 24 hours, the cryptocurrency market was shaken by a massive wave of liquidations, with the total value of forcibly closed positions reaching an impressive $614.80 million. The sudden market correction took many participants by surprise, triggering a chain reaction of liquidations across multiple trading platforms. Both long and short position holders suffered losses, but traders betting on further price growth were hit the hardest, as the sharp reversal in market trends caught them off guard.

According to Phoenix, a leading crypto news outlet, the most significant liquidations occurred on Bybit, Binance, and Gate.io. These platforms recorded the highest number of closed trades, many involving high levels of leverage. In total, 147,457 traders were impacted, as the steep drop in prices triggered automatic margin calls and forced liquidations for positions that no longer met margin requirements. As reported by BlockchainReporter, this liquidation volume over such a short time frame marks one of the largest single-day liquidation events in recent months, once again drawing attention to the risks of aggressive trading amid extreme market volatility.

Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

Bybit posted the highest liquidation volume at $219.91 million, followed by Binance with $176.74 million, and Gate.io with $86.04 million. Other major platforms also reported considerable liquidation figures: OKX reached $59.38 million, while HTX saw $39.18 million in closed positions. The largest individual liquidation order was registered on Binance in the ETH/USDC trading pair, totaling $4.45 million.

Ethereum leads liquidations, followed by Bitcoin and Solana

The highest liquidation volumes were recorded in Ethereum (ETH). Total liquidated positions in ETH reached $233.45 million, roughly equivalent to 66,678 ETH. Bitcoin (BTC) followed, with 1,188 BTC liquidated, amounting to $135.06 million. In third place was Solana (SOL), which saw 271,365 SOL closed, worth approximately $35.39 million.

Other popular cryptocurrencies also experienced notable liquidation volumes. Dogecoin (DOGE) saw $23.32 million in closed trades, XRP followed with $20.16 million, and Polygon (MATIC) with $4.85 million. Additionally, Magic (MAGIC) faced $7.60 million in liquidations, Fantom (FTM) saw $6.71 million, and Cardano (ADA) $3.95 million.

Long positions take the biggest hit

The majority of liquidated trades came from long positions. On Bybit, longs accounted for 92.29% of all liquidations, while Binance and Gate.io recorded 82.45% and 88.59%, respectively. OKX followed with 86.35% long-side liquidations.

This pattern indicates that a large number of traders were anticipating a continued market uptrend and opened leveraged positions accordingly. However, the sharp downturn triggered widespread margin calls, resulting in one of the most significant one-day liquidations in recent months. The event once again highlights the high volatility and inherent risks of today’s crypto landscape.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.