The cryptocurrency market has experienced a notable selloff over the past two days, which has led to a surge in liquidations.

Bitcoin, the largest crypto by market cap, was down 3.5% over the past 24 hours to $67,275, according to The Block’s bitcoin price data, while Ethereum was down 4.6% to $3,495.

The selloff has led to the liquidation of about $270.4 million in leveraged positions over the past 24 hours, according to CoinGlass. A significant portion, $238 million, were long positions.

As was the case in the broader market, ether led the way with $70.5 million in liquidations, of which $64.6 million were long. This was followed closely by bitcoin at $68.88 million. The top exchange to experience liquidations was Binance, with $99.7 million at publication time.

The GMCI 30, …