These figures refer to the notional value of positions including leverage. Even after adjusting for this, the scale of losses remains substantial, highlighting the extreme risk profile of leveraged crypto trading.

The largest liquidation spike occurred during the market crash on October 10–11, when more than $19 billion in positions were wiped out in a single day. The data underscores how high leverage, thin liquidity, and rapid price moves continue to make crypto derivatives one of the most volatile and unforgiving segments of global financial markets.