Traders lost $360 million per day

Traders lost about $361 million on crypto exchanges per day due to fluctuations in cryptocurrency rates. By data Coinglass, most of the losses – $ 195 million – occurred over the past 12 hours against the background of the collapse of the bitcoin rate and its subsequent recovery, writes RBC Crypto.

On the afternoon of April 26, the bitcoin rate exceeded $30,000. However, at 22:00 Moscow time, the value of the asset began to decline sharply and dropped to $27.6 thousand by 23:00. By the morning of April 27, the price of the asset recovered to $29,000. According to CoinGecko, at 10:50 Moscow time, BTC is trading at $28.8 thousand.

Within 24 hours, 80 thousand positions of traders were liquidated on crypto exchanges. According to Coinglass, 58% of them were long, 32% were short. Orders with bitcoin accounted for $178 million, with Ethereum – $72 million. The largest forced closing of a position occurred on the Bitmex exchange in the XBT/USD pair – for $5 million.

The crypto community linked the fall in the bitcoin rate with rumors about the sale of bitcoins by the US government and the bankrupt crypto exchange Mt.Gox. However, later the Arkham Intelligence analytics platform, which originally sent out such warnings, reportedthat these data were misinterpreted.

Arkham also said that their messages could not cause a panic in the market, since they were sent to a small number of users after bitcoin began to fall in price.

Stay in touch! Subscribe to at Telegram.

Comments (No)

Leave a Reply