$590M In Futures Positions Liquidated In Last Hour
CryptoNewsTerminal Staff11 Jun, 2024
$590M In Futures Positions Liquidated In Last Hour
Major exchanges liquidated $590 million worth of futures positions in the past hour. This adds to the $1.53 billion worth of futures positions that were liquidated in the past 24 hours. The liquidations come as the cryptocurrency market experiences a sharp sell-off. The total market capitalization for cryptocurrencies has now dropped to $2.1 trillion. Cryptocurrency exchanges such as Binance and FTX have liquidated a substantial amount of futures positions in the last 24 hours. Binance liquidated approximately $1.2 billion worth of futures positions. The liquidations come as Bitcoin's price has dropped by more than 10% in the past 24 hours. Other cryptocurrencies have also experienced significant losses, with Ethereum dropping by more than 15%. The liquidations are likely to continue as the cryptocurrency market continues to experience volatility.
