Cryptocurrency Traders Suffer $389 Million in Forced Liquidations

Crypto traders faced significant losses over the past 12 hours, with $389 million in forced liquidations reported by Wednesday evening. The majority of these losses came from long positions, accounting for about 90% of the total at $352 million.

Bitcoin (BTC) was the asset with the highest amount of liquidations, totaling around $113 million, followed closely by Ether (ETH) with approximately $89.4 million in losses.

XRP and NEAR also saw significant losses, recording about $17.8 million and $12.5 million respectively, while Zcash (ZEC) suffered losses totaling $12.4 million.