
Benson Sun|Oct 12, 2025 06:59
This liquidation amount is definitely more than 19 billion. If HL alone is 7 billion, Binance is at least 3 times that.
Since 5/19, some top exchanges have modified the liquidation data output from their APIs, so the current CEX liquidation data we see has been 'beautified.'
The epicenter of this crash is Binance, and Binance also has the highest open interest. Is it possible for their liquidation volume to only rank third?
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