500 Million in Futures Positions Vaporized in an Hour as Volatility Surges

IconCryptoNewsTerminal Staff11 Jun, 2024

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500 Million in Futures Positions Vaporized in an Hour as Volatility Surges

Major exchanges liquidated $500 million worth of futures positions in the last hour alone. This is on top of the $256 million worth of futures positions that were liquidated over the past 24 hours. The liquidations come as volatility in the cryptocurrency market continues to surge, with prices swinging wildly in both directions. The largest single liquidation order in the past hour was for $20 million worth of Bitcoin futures on Binance. This was followed by a $15 million liquidation order for Ethereum futures on OKEx. The liquidations are a sign of the growing risk in the cryptocurrency market. As prices continue to fluctuate, more and more traders are being forced to liquidate their positions to avoid losing their entire investment.

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