Over $129 Million in Futures Positions Liquidated on Major Exchanges in the Past Hour
CryptoNewsTerminal Staff04 Aug, 2024
Over $129 Million in Futures Positions Liquidated on Major Exchanges in the Past Hour
Over $129 million worth of futures positions have been liquidated on major exchanges in the past hour, according to data from Coinglass. This brings the total amount of futures positions liquidated in the past 24 hours to over $471 million. The majority of the liquidations occurred on Binance, where over $85 million worth of futures positions were liquidated in the past hour. This was followed by FTX, where over $26 million worth of futures positions were liquidated, and Bybit, where over $18 million worth of futures positions were liquidated. The liquidations come amid a sharp sell-off in the cryptocurrency market, with Bitcoin and Ether both falling by more than 10% in the past 24 hours. The sell-off is likely due to a combination of factors, including concerns about the regulatory crackdown on cryptocurrencies in China and the recent hack of the Poly Network.
