Longs absorb 99% of a $470M crypto wipeout in a single hour

Traders betting on higher prices got hit hard and fast. Between 4:51 p.m. and 5:51 p.m. ET on Nov. 8 — 21:51 to 22:51 UTC — Binance, Bybit and OKX liquidated $470.39 million worth of positions across 30,766 separate liquidations, according to a TokenPost tally built from the three exchanges' public data.

The split tells the story. Long liquidations accounted for $463.50 million, roughly 99% of the total, while shorts gave up just $6.90 million. That left a $456.60 million gap between the two sides.

Binance carried the heaviest load at $341.94 million, or about 72.7% of the combined figure. Bybit followed with $102.33 million (21.8%) and OKX with $26.12 million (5.6%).

Ether was the single most punished asset at $217.70 million in liquidations. Bitcoin came in at $135.40 million and Solana at $21.26 million. Together, ETH, BTC and SOL made up about 79.6% of everything liquidated in the hour.

One caveat worth keeping in mind: the tally draws on public liquidation data collected directly from those three exchanges. It counts Binance, Bybit and OKX only — not the wider market.