Binance Liquidations Reach $800 Million as Bitcoin Drops 7.9% and Ether Falls 10.3%
Binance recorded approximately $800.84 million in cryptocurrency liquidations over a 24-hour period as Bitcoin and Ether prices declined sharply, according to CoinGlass data checked at around 8:15 p.m. ET on November 14. The wider market recorded $2.05 billion in liquidations across tracked exchanges, with leveraged traders betting on rising prices accounting for most of the forced closures.
CoinGlass reported that approximately $1.91 billion of the market-wide liquidations came from long positions, representing 93.1% of the total. These positions are typically used by traders seeking to profit from rising asset prices, often through borrowed or leveraged exposure.
Bitcoin and Ether Declines Trigger Leveraged Liquidations
Binance spot-market data showed Bitcoin falling 7.9% during the 24 hours ending around 8:15 p.m. ET on November 14. Ether recorded a larger decline of 10.3% over the same period.
The price movements coincided with substantial liquidations among leveraged traders. When a position's collateral falls below an exchange's required level, the exchange can forcibly close it to limit further exposure. This process is known as liquidation.
The $800.84 million figure represents the reported value of positions forcibly closed on Binance, not revenue or profit generated by the exchange. The broader $2.05 billion tally covers liquidations across the exchanges monitored by CoinGlass.
CoinGlass Data Challenges Claims of $4 Billion in Binance Liquidations
The reported Binance figure was considerably lower than a post circulating on X that claimed the exchange had recorded more than $4 billion in liquidations by itself.
However, the social media post did not identify its data provider or specify the exact period covered by its claim. CoinGlass's later 24-hour snapshot does not substantiate the reported amount, although the available data does not reconstruct the precise measurement window used in the earlier post.
Liquidation Data Has Reporting Limitations
CoinGlass has also disclosed limitations in the liquidation information it receives from Binance. The exchange restricts its liquidation-data feed to one update per second, which can result in aggregation gaps or reporting delays during periods of extreme market volatility.
As a result, the figures should be interpreted as recorded liquidation activity rather than an independently audited count of every forced position closure. Rapid market movements can make real-time tracking more difficult, particularly when large numbers of leveraged positions are being closed within a short period.
CoinGlass identified the largest individual liquidation order in the latest 24-hour period as a $16.17 million ETHUSDT long position on Binance.
source: thedefiant
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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