The leverage liquidation activity in the cryptocurrency market over the past 24 hours has been quite intense, with approximately $12.62 million in positions wiped out (equivalent to 18.5 billion KRW). Data shows that long positions suffered a greater impact, accounting for 62.23%, while shorts only made up 37.77%, indicating that traders going long have been under significant pressure recently.

The most frequent liquidation occurred on a major exchange, which liquidated $4.71 million within 4 hours, representing 37.32% of the total. Interestingly, on this exchange, long liquidations accounted for 52.36%, showing a relatively balanced situation.

The second is Hyperliquid, which liquidated $2.43 million (19.25%), but the situation there was more extreme—long liquidations made up 97.91%, with almost no short positions affected. This suggests that mainly long positions were being wiped out on that platform. In contrast, Bybit's $2.19 million in liquidations (17.35%) saw more shorts being liquidated, with shorts making up 53.08%, which is completely opposite to the situation on other exchanges.

It is worth noting that Bitfinex surprisingly had no liquidations during this period.

From a coin perspective, ZEC (Zcash) was the most heavily liquidated in the past 24 hours, with about $12 million worth of positions wiped out. During the same period, BTC traded at around $60,599, but its liquidation data was relatively mild.