Traders lost over $410 million in 24 hours amid the collapse of the crypto market


Positions of more than 100 thousand users of crypto-exchanges were forcibly closed due to the fall of Ethereum prices to $1.7 thousand and bitcoin to $28 thousand.

Over the past 24 hours, crypto-exchanges liquidated margin positions of traders amounting to more than $410 million, according to CoinGlass. A total of 102,000 traders’ transactions were forcibly closed, with the largest single liquidation occurring at Okex in a pair with ETH and amounting to $2.9 million.

The largest amount of losses during the day accounted for transactions with ETH – $68 million. BTC is on the second place by the volume of liquidations ($54 million). Altcoin Solana is in third place ($2.8 million).

Traders’ losses were caused by a sharp collapse of the market. On May 26, Ethereum exchange rate updated its minimum since July 2021 at $1.7 thousand. Bitcoin value fell to $28 thousand and Solana token price decreased by 8% to $44.