The losses turned out to be harsh for crypto traders — within 24 hours, the market absorbed about a billion dollars in liquidations, and it didn't end there. ETH, SOL, and DOGE fell by 1-2.6%, but the real blow was taken by leveraged positions.

Ethereum took the biggest hit — $385 million in liquidations in a single day. Bitcoin lost around $188 million, Solana and XRP each over $45 million. In total, more than 240,000 traders were forced to close their positions amid a wave of sell-offs sweeping across all major tokens.

An interesting detail is that these were predominantly long positions. Short liquidations were minimal, indicating that traders found themselves trapped after weeks of fluctuations within a range. They bought on dips and then got hit. Liquidity was low, so the leverage liquidation mechanism worked quickly and ruthlessly.

Interestingly, not only crypto assets were affected. Tokenized commodities, including silver, also took a serious hit. This shows how crypto platforms are becoming rapid macro trading channels during market stress.

Now everything depends on how quickly risk appetite and leverage will recover. If markets stabilize at the start of the week, we might see a rebound. If not — expect another drop.