Crypto liquidations exceeded $ 1.2 billion at press time with over 420,000 traders hit by the market-wide crash.
What Happened: According to data from Coinglass, Ethereum ETH / USD saw $ 313 million worth of liquidation orders as its price dropped 23% to a low of $ 1,838 on Wednesday.
The single largest liquidation order took place on Binance on an ETH / USDT trading pair where the trader lost $ 17.77 million.
Bitcoin BTC / USD saw the second largest value of liquidations. Traders lost $ 311.9 million on BTC trading pairs across exchanges as the leading digital asset fell to a low of $ 26,884.
Luna (LUNA) saw $ 132 million in liquidation orders as its price dropped 97% to $ 0.29 in just 24 hours.
Large-cap altcoins like Solana (SOL) and XRP (XRP) saw $ 34 million and $ 26 million worth of liquidations.
Popular meme-based cryptocurrency Dogecoin DOGE / USD was down 32% over 24 hours, trading at $ 0.07. DOGE has recorded over $ 18 million in liquidations over the last day.
See Also: Is Terra (LUNA) Dead?