Data from various sources shows that over $1.74 billion worth of Cryptocurrencies were 'liquidated' yesterday as the market experienced a deep pullback. Traders borrow excess capital from brokerages/exchanges to position larger bets on the assets they sell, which is known as a 'liquidation. Huobi had the most liquidations of all the exchanges, with $453 million, followed by Bybit and Binance with $298 million and $263 million, respectively.