$1.7 billion liquidated as crypto markets dumps after ‘petcoin’ frenzy

2021-5-11 13:00

Over $1.74 billion worth of cryptocurrencies were ‘liquidated’ yesterday as the market saw a deep pullback, data from multiple sources shows.

Interestingly, the dump came right after pet coins like Shiba Inu (SHIB), Hokkaido Inu (HOKK), Akita Inu (AKITA), and others pumped by several hundred percent in a single week.

Liquidations, liquidations

As per markets tool Bybt, over 246,000 traders were liquidated in the past day with the single largest single liquidation order occurring on crypto exchange Huobi—a Polkadot (DOT) value to the tune of $8.51 million.

Polkadot fell to as low as $32 on Huobi. Image: DOT/USD via TradingView.

‘Liquidations’ occur when traders borrow excess capital from brokerages/exchanges (i.e., ‘margin’ or trading futures) to place bigger bets on the assets they trade. They pay a fixed fee for doing so, while exchanges close out these positions at a predetermined price—when the trader’s collateral is equal to the loss on that position. Such a trade is then said to be liquidated.

Last weekend, traders likely borrowed in excess of what their books would have allowed and contributed to what became an overleveraged market. Yesterday, when prices dropped, the liquidation levels of other traders had likely triggered, leading to a cascading effect.

Inside the frenzy

Of the $1.74 billion, $1.3 billion came from ‘long’ positions (those betting on higher prices), while the remaining came from ‘shorts’ (those betting on lower prices; they were likely liquidated due to higher leverage even as price moved downward).

Over $439.87 million worth of Bitcoin (BTC) trades were liquidated, a similar amount in Ethereum (ETH) was liquidated, $137.36 million in XRP was liquidated,  $95.49 million of Dogecoin (DOGE) was liquidated, and $71.23 million in EOS was liquidated.

Image: Bybt

Of all exchanges, Huobi saw the largest chunk of liquidations with $453 million, followed by Bybit and Binance at $298 million and $263 million respectively.

Meanwhile, the market even saw $40.19 million worth of SHIB trades—whose futures launched just yesterday on FTX and Binance—get liquidated.

Other petcoins like HOKK, AKITA, HUSKY, and BDOG fell by several percent in the hours after they pumped, likely by traders taking profits on the meme tokens.

The post $1.7 billion liquidated as crypto markets dumps after ‘petcoin’ frenzy appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

billion liquidated frenzy petcoin markets crypto dumps

Источник: cryptoslate.com

billion liquidated → Результатов: 42


Bitcoin Takes A Dive & Altcoins’ Drop Hard, But People Are Still ‘HODLing and Not Selling’

BTC price goes down to about $55,600 and Ether as low as $1,930 as 366,073 traders get liquidated for $2.02 billion. But the crypto market is already recovering the losses. The post Bitcoin Takes A Dive & Altcoins’ Drop Hard, But People Are Still ‘HODLing and Not Selling’ first appeared on BitcoinExchangeGuide.

2021-4-8 17:47


Фото:

$1.62 Billion Long Positions Liquidated in 24 Hours as BTC Dips Below $55k

Bitcoin’s recent dip below $55k has led to heavy losses of crypto investors’ funds, with $1.62 billion long crypto positions liquidated within 24hours. In the early hours of the day, Bitcoin’s price, as well as that of many altcoins, went on a rollercoaster—yet again—resulting in massive liquidation volumes across the board.  BTC went from $57,800Read More

2021-3-24 07:00


Фото:

$800m Liquidated: Bitcoin’s Rally to All-Time Highs Leaves Trail of Bear Blood

Bitcoin saw some potent price action yesterday, with bulls sending it rallying from the mid-$20,000 region to highs of $23,700 The selling pressure here proved to be quite significant and slowed its growth, but the cryptocurrency does appear to be poised to see further upside One analytics firm explained in a recent tweet that a massive onslaught of short-sided liquidations fueled this movement Over the past few days, over $1 billion in short positions have […]

2020-12-18 21:00


Фото:

This Level Marked Bitcoin’s $3,000 Bottom. Now, It’s Marking the Local Top

Bitcoin’s price seemingly moves without rhyme or rhythm. As a result, day-to-day, no one has been able to accurately predict the movements of the cryptocurrency, accentuated by the fact that some $1 billion+ worth of long positions (and short positions) were liquidated on BitMEX and other trading platforms during March 12th’s flash crash to $3,700.

2020-4-20 04:00


Advanced botnet attack caused $1.2bn in Bitcoin longs liquidation on BitMEX

Bitcoin’s price struggle was further exacerbated last week when the coin plunged to $3,700 on BitMEX and caused almost $1. 2 billion in long contracts to be liquidated on the platform. Now, the exchange’s CTO has revealed that the liquidations were caused by sophisticated botnet attacks that have been probing the platform for days and were […] The post Advanced botnet attack caused $1.

2020-3-17 22:34


За год на BitMEX ликвидировали позиции на $20 млрд

В 2019 году на бирже биткоин-деривативов BitMEX были ликвидированы позиции трейдеров на $20 млрд. Это почти на 20% больше, чем в предыдущем году. Through the course of the year, ~$20 billion got liquidated on @BitMEXdotcom, a ~20% increase since last year.

2019-12-30 17:14


Фото:

$6 Billion in Fiat is Sitting in Crypto: $10,000 Bitcoin is Possible Without New Money

It isn’t a secret that millions, if not billions of dollars fled the crypto asset markets in 2018. Blockchain projects liquidated hundreds of millions worth of Ethereum (ETH) from the initial coin offerings, while common Joes and Jills, many of who caught FOMO in late-2018, liquidated their Bitcoin (BTC) holdings in search for greener pastures.

2019-2-19 15:01


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru