The cryptocurrency market has experienced significant liquidations totaling $562.87 million in the past 24 hours, according to data from Phoenix Group. Bitcoin, Dogecoin, Ethereum, Solana, and Sui were the coins with the highest liquidations. Over 126,000 traders were impacted, highlighting the risks of leveraged trading. Bitcoin accounted for the most liquidations at $275.60 million, followed by Dogecoin and Ethereum. Binance led the liquidation activity among exchanges, with a total of $297.97 million. The data underscores the high-risk nature of leveraged trading and the influence of major exchanges on market dynamics.
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