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The crypto market has witnessed a massive outbreak in just a day, with liquidation data showing hundreds of thousands of traders have been liquidated and the market cap shrunk. 
According to the&nbsp;<a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="nofollow">data</a>&nbsp;from CoinGlass on Dec. 10, market traders have seen major liquidations in a year, with $1.7 billion wiped out in just a day of trading. At the time of writing, over $1.53 billion was spent in long positions, and $155 million was spent in short positions. 
Small-cap crypto is leading the liquidations with $564 million in 24 hours, which is dominated by long positions of $543 million and short positions of only $21 million. Half of a million traders have lost today. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="599" src="https://crypto.news/app/uploads/2024/12/Screenshot-2024-12-10-053901-1024x599.png" alt="Small-cap crypto lead $1.7 billion liquidation, market cap falls 6% - 24" class="wp-image-14317804">
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 Crypto liquidations data in the past 24 hours | Source: <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="nofollow">CoinGlass</a>
 </figcaption>
</figure> 
Ethereum (<a rel="" href="https://crypto.news/price/ethereum/">ETH</a>) is the next token that saw major liquidation with $235 million – $214 million longs and $21 million shorts. The token dropped 7% from the highest level of the day to $3,686. 
Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) community has also seen $182 million in liquidation, with $140 million in longs and $42 million in shorts. Bitcoin has shrunk under the $100,000 psychological level, around $96,652 in a day. 
Data shows that Binance has recorded giant liquidations with over $739 million, followed by OKX and Bybit with $422 million and $369 million, respectively. Ethereum-USDT in Binance accounts for the biggest single liquidations with $19.69 million. 
Moreover, the market cap fell by 6.62% to $3.44 trillion, while the market volume increased 113% to $313 billion in a day of trading. 
 You might also like: <a rel="" href="https://crypto.news/small-cap-altcoin-liquidations-dominate-market-cap-falls-2-3/"> Small-cap altcoin liquidations dominate, market cap falls 2.3% </a> 
<h2 class="wp-block-heading" id="massive-crypto-liquidations-in-a-year">Massive crypto liquidations in a year</h2> 
Today’s crypto liquidations are marked as the highest in the past year or become the largest liquidations since 2021, after the market have seen a skyrocketing increase in a few tokens, from BTC to <a rel="" href="https://crypto.news/price/xrp/">XRP</a>. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="312" src="https://crypto.news/app/uploads/2024/12/Screenshot-2024-12-10-060049-1024x312.png" alt="Small-cap crypto lead $1.7 billion liquidation, market cap falls 6% - 25" class="wp-image-14317807">
 <figcaption class="wp-element-caption">
 Crypto liquidations chart in the past 6 months | Source: <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="nofollow">CoinGlass</a>
 </figcaption>
</figure> 
Last month, traders also saw a massive outbreak of around $500 million in several days, which indicates that crypto newcomers have entered the market. It has seen an increasing trend of liquidations over the year. 
 Read more: <a rel="" href="https://crypto.news/traders-seen-553-million-crypto-liquidations-as-bitcoin-dropped-92k/"> Traders seen $553 million crypto liquidations as Bitcoin dropped $92k </a>

Small-cap crypto lead $1.7 billion liquidation, market cap falls 6%

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