The cryptocurrency BONK recorded significant network liquidations exceeding $7.42 million within a 24-hour period, positioning it as the second-largest asset by liquidation volume after Ethereum (ETH).
Market data reveals that long positions contributed $1.82 million to the total liquidations while shorts dominated with $5.6 million. Concurrently, BONK’s price surged 17.83% to $0.00002135, reflecting intense market volatility and heightened trading activity.
This liquidation volume milestone underscores BONK’s rapidly expanding influence in crypto derivatives markets. As the largest altcoin liquidation event behind only Ethereum, it signals growing institutional and retail attention to BONK’s price movements.
The phenomenon highlights BONK’s escalating significance for investors monitoring volatility patterns in alternative cryptocurrencies, with its derivatives market presence now being closely tracked alongside major digital assets.