Key Notes

Mass liquidations totaling $499.27 million erased leveraged positions across 142,000 traders in a single day.

Memecoin sector dropped 5.6% to $46.18 billion as traders rushed to exit high-risk positions before the weekend.

The largest single liquidation occurred on Hyperliquid's BTC-USD market at $8.5 million amid fragile liquidity.

Crypto markets faced intense turbulence on Dec. 5 as liquidations surged above $500 million, reigniting concerns about recurring weekend volatility and increasingly fragile market depth.

According to Coinglass’ real-time data , a total of $499.27 million in positions was wiped out over 24 hours, with $419.19 million in longs and $80.08 million in shorts liquidated, with more than 142,000 traders affected.

Crypto market liquidation hit $500 mill

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