Traders lost almost $520 million in 12 hours amid the collapse of cryptocurrencies

Crypto-traders' positions worth about $519 million were liquidated in 12 hours amid a sharp drop in cryptocurrency rates on August 19. The value of bitcoin fell below $21.8 thousand, and Ethereum showed a decline to $1.73 thousand. The total amount of liquidations for the day amounted to $554 million, according to Coinglass.

The fall of cryptocurrencies

The first cryptocurrency by capitalization leads in the number of liquidations - for the last 12 hours there were forced to close positions on 9.29 thousand VTC - amounting to about $200 million. Ethereum is in second place - 73 thousand ETH, or $127 million. Most of the liquidated positions were long - 91%. The largest losses were recorded on the Okex and Binance exchanges - $234 million and $121 million respectively. The third place is occupied by FTX, on which about $54 million worth of positions were closed.

Cryptocurrency exchange rate on August 21

According to Pythagoras news interactive table, the value of the first cryptocurrency is $21,138 as of August 21. The second most capitalized cryptocurrency Ethereum is trading at $1,571.