Convex Finance’s active addresses hit near a ten-month high on Monday, up 42% on the day. Curve’s yield amplifier extended gains by 26% on Monday, touching a high of $4.660. Over $722,000 in shorts were liquidated as CVX sees a short squeeze in the past 24 hours. Convex Finance , the DeFi token, extends its rally to double-digit gains and raises 26% on Monday, as seen on Binance. Data from Coinglass shows large volume liquidation of short positions, to the tune of $722,000.
The spot trading volume of the CVX/USDT pair reached nearly $32 million, a new high for intraday trade volume in the pair on Binance, on Sunday. Data from derivatives tracker Coinglass shows that over $722,000 in short positions were liquidated in the past 24 hours. The massive liquidation of short positions is referred to as a “short squeeze” by Wu, in his recent tweet. Wu also reported that the trading volume of CVX/USDT perpetual contracts reached a high of $120 million on Bybit.
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