Crypto Liquidations Hit Record $57.99 Million in One Hour

Crypto liquidations reached an astonishing $57.99 million in just one hour on October 2nd, at 12:21 a.m. ET (04:21 UTC), according to TokenPost's three-exchange tally.

The total included 98% short positions and only 2% long positions, with 2,636 liquidation events recorded across Binance, Bybit, and OKX exchanges.

Binance accounted for the largest share of liquidations at $42.69 million, followed by Bybit at $9.36 million and OKX at $5.94 million.

The biggest asset affected was Bitcoin (BTC), which saw $45.96 million in liquidations, with Ether (ETH) coming in second at $6.35 million and Solana (SOL) third at $2.92 million.