Share this article
Crypto Markets See Largest Short Liquidations in 15 Months; Ether Leads Token Surge
Crypto exchange FTX saw some $500 million in liquidations alone, a larger-than-usual figure.
Updated Oct 26, 2022, 5:38 p.m. Published Oct 26, 2022, 6:45 a.m.
Crypto markets had over $700 million in liquidations on short trades, or bets against price rises, reaching levels not seen since July 2021.
The liquidations may have contributed to a short squeeze because prices of several tokens jumped in the past 24 hours. Longs, or traders betting on higher prices, saw an additional $100 million in liquidations amid short-term price volatility.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Ether jumped 10% to lead the surge among major cryptocurrencies, with Cardano's ADA, Solana's SOL and adding some 9% and bitcoin adding a tamer 4.3%. The overall market capitalization of the crypto market increased 4% regaining the $1 trillion mark, a level previously seen in August.
The largest amount of short liquidations since July last year (so far). https://t.co/INc50QkJgG pic.twitter.com/S0wvW85ouH
— Coinalyze (@coinalyzetool) October 25, 2022
Liquidations occur when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader cannot meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).
Crypto exchange FTX recorded over $519 million in short liquidations, the most among its counterparts, followed by OKX at $71 million and Binance at $46 million. Some on Crypto Twitter remarked the move was unusual.
Bitcoin-tracked futures saw some $368 million in both long and short liquidations, followed by ether futures at $356 million. Among the other majors, ADA futures had $16 million in losses for traders.
Meanwhile, open interest, or the amount of outstanding derivative contracts that have not been settled, increased by 6.6%, implying traders opened more positions in anticipation of a further price surge.
The moves came amid a rise in broader equity markets. The tech-heavy Nasdaq ended Wednesday 2.25% higher and the S&P 500 added 1.63%. Asian markets rose on Thursday, with Japan’s Nikkei 225 increasing 0.90% and Hong Kong’s Hang Seng adding 0.63% since the open.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Asia Morning Briefing: Bitcoin Drifts Near $89K as Traders Step Back and Balance Sheets Step In
FlowDesk sees fading post-Fed demand and low leverage, while Glassnode data show digital asset treasuries quietly resuming bitcoin accumulation in a range-bound market.
What to know:
- Bitcoin traded near $89,000 as liquidity thinned and demand faded following a recent Fed rate cut.
- Market caution persists with BTC and ETH retracing gains, while altcoins remain under pressure.
- Gold maintains near-record highs due to rate cuts and central bank demand, while Asian markets opened lower amid cautious investor sentiment.
Top Stories
