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    10,000,000,000 USD Liquidation Event Marks As The Biggest One In The History Of Cryptocurrency Industry

    Earlier estimation of 2.24 billion USD worth of liquidation is just the tip of the ice-berg. The real figure is bigger and scarier than that..

    Updated Feb 08, 2025
    Samik Ghoshal

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    Samik Ghoshal

    10,000,000,000 USD Liquidation Event Marks As The Biggest One In The History Of Cryptocurrency Industry

    POTUS Donald Trump has managed to put people on edge. When he took office, he imposed a sudden tariff on China, Canada, and Mexico. As a result, the trio imposed retaliatory measures on US and US imported goods. This led to a wide-scale panic in the trading community. This was followed by a massive liquidation event where $10 billion of digital assets flowed back into the market till now. All of these changes started happening in just 24 hours on February 3rd. 

    Even though the volatility triggered by macroeconomic factors increased the overall concerns in the market, the crypto industry did see some hope. Amidst the rumors of a trade war, investments continued flowing into the crypto market. A notable investor, OG Foundation, invested $88.88 million into the industry. This fund is said to accelerate AI-powered decentralized finance of DeFi Applications.  

    Still, the foundation of the market has been rocked by recent developments, and there is no denying it.  

    $10 Billion Liquidation Event 

    This liquidation event is said to be one of the biggest liquidation events in recent history. Around 10 billion USD worth of crypto assets were liquidated after Trump’s announcement. Bybit CEO believes that this event was a historic one and can eclipse previous estimates. It can even change the course of the market movement.  

    Coinglass data shows the overall liquidation for Feb 3rd was around 2.24 Billion USD. However, Ben Zhou, Bybit’s CEO and founder, claims the data is inaccurate and wrote a lengthy post detailing his perspective. 

    Here is what Zhou had to say about the incident, “I am afraid that today real total liquidation is a lot more than $2B, by my estimation it should be at least around $8-10b. FYI, Bybit 24hr liquidation alone was $2.1B, As you can see in below screenshot, Bybit 24hr liquidations recorded on Coinglass was around $333m, however, this is not all of the liquidations. We have api limitation on how much feeds are pushed out per second. From my observation, other exchanges also practice the same to limit liquidation data. Moving forward, Bybit will start to PUSH all liquidation data. We believe in transparency.”

    source

    Following the picture, he even added some screenshots highlighting his claim. Therefore, Feb 3rd saw one of the biggest liquidation events that have the potential to wipe out future predictions and change the course of crypto history. Follow us for more crypto news.  

    Samik Ghoshal

    Samik Ghoshal

    Editor

    Samik Ghoshal is a versatile writer with a special knack for blockchain technology, which brings a nuanced perspective to his work. His analytical skills and passion for cryptocurrencies made him a critical writer nurturing the world of NFTs, DeFi, and Web3 developments. Accuracy and enthusiasm to understand the crypto market sets his value for each informative content.

    Read more about Samik Ghoshal