At 12 o'clock in the past, the total amount of liquidation on the entire network rose to 19.1 billion US dollars, and the number of liquidation exceeded 1.62 million, breaking the historical record again.

[Cryptocurrency Market Experiences Severe Volatility, Liquidations Reach $19 Billion in 12 Hours]

According to the latest data from Coinglass, as of October 11th, the cryptocurrency market experienced massive contract liquidations in the previous 12 hours, totaling $19.037 billion across the network. Long contract liquidations were particularly severe, reaching $16.633 billion, while short contract liquidations totaled $2.405 billion, demonstrating the market's extreme volatility in a short period of time.

Among major cryptocurrencies, Bitcoin (BTC) experienced a total of $5.304 billion in liquidations, followed closely by Ethereum (ETH) at $4.361 billion. Together, these two currencies accounted for nearly half of the total liquidations, reflecting the significant impact of major asset fluctuations on the overall market.

Looking further ahead, over the past 24 hours, over 1.62 million individuals worldwide experienced liquidations, totaling $19.141 billion. Of particular note, the largest single liquidation occurred on the Hyperliquid platform's ETH-USDT trading pair, with a total loss of $203 million, making it one of the most prominent cases in this round of market cleansing.

This large-scale liquidation incident once again highlights the high-risk nature of cryptocurrency contract trading. Investors participating in high-leverage trading should closely monitor market fluctuations and manage their positions appropriately to prepare for possible extreme market conditions.