The cryptocurrency market experienced substantial liquidations over the past 24 hours, totaling approximately $614.80 million. According to the data of several exchanges, both long and short positions have been affected, and Bybit, Binance, and Gate.io with the largest liquidation volume. There were 147,457 traders whose positions were closed within this period. LIQUIDATION DATA IN 24 HOURS TOTAL LIQUIDATIONS: UP TO $614.80M TOP 5 COINS WITH HIGHEST LIQUIDATION: $ETH ~ $233.45M… pic.twitter.com/CvWmXmR6pF — PHOENIX – Crypto News & Analytics (@pnxgrp) August 2, 2025 Bybit had the greatest portion of liquidations, with $219.91 million, Binance had $176.743 million, and Gate.io had $86.04 million. Other prominent trades were OKX at $59.38 million and HTX at $39.18 million. The single biggest liquidation order was on the Binance exchange, in the ETHUSDC pair, which was settled at $4.45 million. Ethereum Leads Liquidations Amid Broad Market Shakeout Ethereum ($ETH) pioneered the asset liquidation, which was valued at a cumulative sum of $233.45 million, equivalent to 66,678 ETH. Bitcoin ($BTC) continued and took out a total of 1,188 BTC for a sum of $135.06 million. Solana ($SOL) was next, with 271,365 SOL, or $35.39 million, closed. Other coins with high liquidation activity were Dogecoin ($DOGE) at $23.32 million, $XRP at $20.16 million, and Polygon ($MATIC) at $4.85 million. Further, prominent liquidation amounts were witnessed in Magic ($MAGIC) at $7.60 million, Fantom ($FTM) at $6.71 million, and Cardano ($ADA) at $3.95 million. Position Distribution and Market Condition The liquidation data in exchanges indicates alternating high to low short-to-long (pairs) ratios. In contrast, Bybit was associated with 92.29% of prolonged shortages and Binance 82.45 % of the same. In Gate.io and OKX, 88.59% and 86.35% of the liquidations were by long traders. Such a distribution implies that the recent market dynamics were more inclined to bearish conditions, which caused substantial losses to traders with leveraged long positions. Activity shows an increased volatility of popular cryptocurrencies, making it one of the biggest liquidations ever observed in a single day in recent months.