Ether Futures Lead $1.2B in Liquidations, Crypto Market Cap Drops 16% Overnight

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Ether (ETH) futures led liquidation losses in the past 24 hours as crypto markets lost over 16% of their overall capitalization. shauryamalwa reports.

Liquidations in the crypto market happen when a trader has insufficient funds to fund a margin call – or a call for extra collateral demanded by the exchange to keep the trading position funded. They’re especially common in high-risk trading due to the high volatility of assets. It occurs in both margins and futures trading.

Traders of ether futures lost $333 million to liquidations as the asset lost 22% to drop under the $1,900 level. This was the highest among all cryptos, with bitcoin futures seeing $330 million in losses and futures tracking Terra’s LUNA racking up $130 million in losses.Losses exceeded $1.2 billion in the past 24 hours, the highest so far this year. They came as major cryptocurrencies saw steep drops: Bitcoin fell 11%, BNB Chain’s BNB lost 26%, and Solana’s SOL lost 37%.

Crypto exchange OKX saw $393 million in liquidations, the highest among all crypto exchanges, followed by Binance at $389 million and Bybit at $155 million. Data shows 83% of all futures were long, or betting on higher prices, despite weakness in the overall market earlier this week. Much of the

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

shauryamalwa They have lost a huge amount of usdt, terrible

shauryamalwa Does anybody know where this liquidation money goes ? Who takes them

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines