Amr Taha2026-11-12

Ethereum Sees One of Its Largest Long-Liquidation Waves in Nearly Four Months as Binance Leads $377M Imbalance

Ethereum recorded a combined $376.75 million net long-liquidation imbalance across Binance, Bybit, OKX, and Gate on November 8 and 10, with Binance accounting for approximately 65% of the total as ETH extended its decline toward $2,000. On November 8, the four exchanges registered a combined $252.6 million imbalance in favor of long liquidations. Binance led with $176 million, followed by Bybit at $46 million, OKX at $17.9 million, and Gate at $12.7 million. On November 10, the combined figure reached another $124.15 million, including $69 million on Binance, $18.25 million on Bybit, $19.8 million on OKX, and Gate $17.1 million . Across both sessions, Binance accumulated $245 million in net long-liquidation imbalance, approximately 1.86 times the combined $131.75 million recorded by the other three exchanges. The liquidation imbalance coincided with Ethereum's broader decline from approximately $2,450 in early November to $2,053 on November 12, leaving ETH just 2.6% above the $2,000 psychological threshold. The figures reflect net long-versus-short liquidation differences rather than total liquidations.