Major Cryptocurrency Exchanges Liquidate $510 Million in Futures Positions:
CryptoNewsTerminal Staff20 May, 2024
Major Cryptocurrency Exchanges Liquidate $510 Million in Futures Positions:
Over the past hour, major cryptocurrency exchanges have liquidated a staggering $510 million worth of futures positions. This significant liquidation has occurred in the wake of a sharp drop in the prices of major cryptocurrencies such as Bitcoin and Ethereum. In the past 24 hours, over $173 million worth of futures positions have been liquidated, indicating a broader trend of deleveraging and risk aversion among traders. The liquidations have been concentrated on Binance, Huobi, and OKEx, which are some of the largest cryptocurrency exchanges in the world. The liquidations are likely due to a combination of factors, including the recent price drop, increased regulatory scrutiny, and concerns about the overall health of the cryptocurrency market. The liquidations are a reminder of the volatility and risk associated with cryptocurrency trading, and they underscore the importance of managing risk carefully.
