ETH 4,000-Long Wiped $9.67M: 83% of $339M Liq Is Longs
One order, $9.67M gone
Binance just cleared a 4,000 ETH long at $2,416.80, worth $9.67M. That single fill is the second-largest liquidation on the network right now, behind only a 152.8 BTC long at $11.8M. The position was opened near the highs and got caught when price slid toward $2,412, the low end of the past day. In the same sweep, a second 2,731-coin long was wiped at $2,408, adding another $6.6M in losses.
The 24h picture: longs are the ones paying
Over the last 24 hours, $339M in positions were liquidated across major exchanges. Longs absorbed $281.9M, or 83% of the total, while shorts lost just $56.9M. The split flipped in the last hour too: $24.7M of longs were cleared versus $3.4M of shorts, so the pressure is still on the buy side at this moment. This is the opposite of the short squeeze seen on August 24-25, when shorts were paying for most of the damage as BTC pushed through $80K.
The second-biggest casualty
BTC tops the liquidation board with $112.3M in 24h, and the second-biggest coin follows at $88.5M, of which $74.8M was long. XRP comes next at $27.8M, almost entirely longs at $26.1M. By exchange, Binance handled $154.6M of the total, with $127.8M from longs, while OKX cleared $65.3M and Hyperliquid $37.7M, where longs paid $36.1M of that. Every major venue in the top eight shows the same long-heavy skew.
Open interest barely moved, down 0.2% to $24.7B, which suggests this flush was driven by leveraged longs closing out rather than a broad unwind. Funding on Binance and OKX is still positive at 0.0086% and 0.01%, meaning traders are paying to hold long positions into a falling market.
What this tells you
A concentrated $9.67M single-order liquidation is a marker of crowded leverage, not a fundamental break. The liquidation map shows most of today's long entries clustered around $2,450-2,480, so a bounce into that zone will face sellers from trapped positions. Watch whether price reclaims that range on the next attempt. If it keeps sliding below $2,400, expect another layer of long stops to trigger, and the next support test would be the $2,380 area seen earlier in the day.
Data as of 21:35 Beijing time on August 26, covering Binance, OKX, Bybit, Hyperliquid, Gate and Bitget among other major exchanges.