Forced closures in leveraged markets were concentrated in bets on rising prices. The largest single order was an ETH position worth almost $20 million.
Ether, the cryptocurrency of the Ethereum network, fell below $2,500 on October 8 as forced closures across leveraged markets exceeded $1 billion. CoinGlass’s liquidation dashboard showed about $1.16 billion in positions liquidated over the previous 24 hours at 20:17 UTC. Long positions, which benefit from rising prices, accounted for $1.05 billion.
In the same snapshot, Ether traded at $2,470.83, down 4.06% over 24 hours. Bitcoin was at $81,827.40, a decline of 2.06%, while Solana fell 5.81% to $109.54. Solana had the steepest percentage decline of the three, but Ether’s liquidation total exceeded Bitcoin’s.
Ether liquidations reach $327 million
For ETH, the dashboard listed $293.84 million in long liquidations and $33.49 million in short liquidations, involving bets on falling prices. Together, they amounted to about $327.33 million. The corresponding totals were $301.13 million for BTC and $67.88 million for SOL.
The largest single liquidation order reported by CoinGlass was worth about $19.98 million on Hyperliquid’s ETH-USD contract. Across the market, the platform counted roughly 191,700 traders liquidated. Total short liquidations across the markets it tracks stood at $108.03 million.
The total rose from an earlier $759 million
In an October 8 post, Wu Blockchain had reported an earlier ETH price of $2,467.88 and a marketwide liquidation total of $759 million. Long positions made up $692 million of that earlier CoinGlass snapshot. The account attributed its price figures to Binance market data.
Wu Blockchain’s earlier intraday snapshot. The $759 million figure below predates the evening dashboard check.
The evening total of $1.16 billion was above the $759 million reported earlier. Subtracting the two rolling totals would not, however, give an exact measure of new liquidations between the checks: older orders also leave the 24-hour window as time passes.
The $1.16 billion total is not ETH alone. It covers positions across the markets tracked by CoinGlass. The roughly $327 million in Ether liquidations is included in that total and should not be added to it.
Liquidations measure positions, not cash losses
Liquidation is the forced closure of a leveraged position when its collateral no longer meets the required maintenance level. The dollar amounts in the dashboard measure the value of positions closed, rather than the cash a trader deposited or money leaving spot markets.
The liquidation price calculator can compare estimated closing thresholds for isolated positions at different entry prices and leverage levels. It uses a simplified model that excludes fees and funding, so it cannot replace the liquidation price shown by an exchange.
CoinGlass says it aggregates information from exchanges’ public channels and official APIs. Its source notes state that reporting-frequency limits at Binance and OKX can lead to second-level aggregation or delays during heavy market activity. The figures update as new reports arrive and describe the 24-hour total at the time of the check.
