Nearly $6 billion: Crypto futures market saw the highest amount of liquidations in its history on Monday

advertisement

The crypto futures market saw the highest amount of liquidations in its history on Monday.

In the last 24 hours, the market saw $5.77 billion worth of liquidations, according to tracker Bybt, a development triggered by a broad decline in the price of bitcoin and other cryptocurrencies.

By comparison, March 2020's so-called "Black Thursday" saw a total of $4.1 billion worth of liquidations, according to data provided to The Block by Bybt.

Source: Bybt, The Block Research

 

During the Black Thursday event, bitcoin's price fell about 50% and led to significant liquidations at the time. Compared to that percentage, the latest bitcoin fall is relatively lower at around 17%, despite higher liquidations.

The maturity of the crypto market could be one reason for the relatively lower price decline. Several crypto exchanges now offer futures trading, compared to a period when BitMEX dominated the market. The level of open interest today is also significantly higher than it was last March.


Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Crypto futures are transforming market infrastructure

Despite the current market volatility institutional demand for crypto has not lessened although historically, access has been difficult. Crypto futures are set to transform capital markets infrastructure and can offer frictionless, regulated and round-the-clock trading.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More