[Blockchain Today Reporter Ji-eun Lee] It is reported that a liquidation order worth $500 million was issued in 60 minutes due to the bitcoin adjustment.
According to Cointelegraph reports, on the 15th (local time), major cryptocurrency exchanges failed to maintain the $60,000 price point as a $500 million worth of bitcoin liquidation orders were recorded in 60 minutes.
Glassnode founders Jan & Yann said on Twitter that more than half of the futures contracts before margin call were borrowed at least 20x, highlighting a record-breaking hourly bitcoin liquidation order.
However, according to Bybt’s data, $800 million worth of liquidation orders were processed in just 15 minutes.
According to Datamish, a cryptocurrency market data aggregator, 292 positions on the derivatives exchange BitMEX were liquidated for $94.5 million over the past 24 hours. In the case of Bifinex, 488 positions were liquidated for about $100 million over the same period.
The second daily liquidation order was on February 22nd. At the time, BTC had plunged from a record high of 58300 dollars to 47,000 dollars. Cointelegraph reported that at the time of the crash, a futures contract worth $5.9 billion was liquidated.
Bitcoin was revised by 12.3% in Asian transactions on Tuesday, March 16, to $53,500, after its high on March 14th reached $61,000.
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