Data compiled by Woofun AI shows that total network liquidations surged to $421 million within the last 24-hour period. Short positions bore the brunt of the volatility, accounting for $235 million of the total, compared to $186 million in long position liquidations.

Ethereum shorts led the specific asset breakdown with $74.16 million wiped out, followed by Ethereum longs at $50.41 million. Bitcoin longs and shorts recorded $47.49 million and $45.90 million respectively. Globally, 100,914 traders were liquidated, highlighted by a single massive ETHUSDT position on Binance valued at $9.0893 million.