65 cryptocurrency derivative exchanges have recorded a trading volume totaling $171 billion in the last 24 hours. This is a 21.85% increase over the previous day. The trading volume as well as open interest in bitcoin futures increased to $791 billion. Binance accounted for $468 billion.

The total open interest in bitcoin futures reached $9.73 billion on February 21, 2023. However, it has fallen to $9.06 trillion by March 2. BTC had been above $23,000 for seven days prior to March 2.

On Thursday, however, the price fell to $22,259 per piece. There were many long positions before the drop. According to statistics of Coinglass, 78.116 traders were liquidated at 8 p.m. Eastern Time. With the largest liquidation taking place on Okx, the total amount of liquidations since the price changes has reached $237.97 millions.

There were $206 million in liquidations on March 2, with 90% of those positions being long. A BTC/USD Swap on Okx was valued at $4.16 million, according to Coinglass. Binance, Bybit and Okx had the highest number of liquidations over the last 24 hours. Huobi, Coinex and Deribit were close behind.

There were $9.2million in short positions bet against BTC‘s rising value on March 2. The March 2 liquidations were almost as high as those that took place on February 8, when $254 million worth of long positions was wiped out. More closely, the March 2 liquidations were similar to those of Jan. 17, when $190 million was liquidated in long positions.