Nearly $4 billion in long perpetuals were liquidated over the last 24 hours across the top centralized exchanges.
Huobi saw the most liquidations with close to $1.2bn, followed by $950m on Bybit and $440m on OKEx.
Select DeFi blue chips have posited a strong rebound after yesterday’s market downturn.
ETH, which has led the market in recent weeks, has struggled to keep up.
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