The regulator initiated 125 cryptocurrency-related enforcement actions totaling more than $6 billion in penalties under former Chairman Gary Gensler. U.S. Regulator Abandons Robinhood Crypto Probe Robinhood Crypto (RHC), a division of financial services firm Robinhood, announced on Monday that the U.S. Securities and Exchanges Commission (SEC) has shut down a securities violation investigation it was […]
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Key Takeaways: Wintermute withdrew $38 million worth of SOL from Binance. Another $2 billion worth of Solana tokens is expected to unlock, which could intensify selling pressure. Analysts are worried about the risk of big holders dumping unlocked tokens. The crypto community is on edge as market maker Wintermute recently withdrew a large amount of Solana…
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Data shows that the cryptocurrency derivatives sector has seen a high amount of liquidation during the past day as Ethereum and other altcoins plunged. Altcoins Have Just Witnessed Massive Long Liquidations According to data from CoinGlass, liquidations have piled up on the cryptocurrency futures market in the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has accumulated losses of a certain degree. Related Reading: Is It Time To Buy XRP? TD Sequential Says Yes When a large amount of liquidations occur at once, the event is popularly known as a squeeze. The chances of a squeeze taking place come down to two factors. The first is naturally the volatility, as a larger swing in the price would mean a wider span of contracts gets pushed into the red. The other factor is leverage, a loan amount that derivatives market traders can opt to take against their initial collateral. Leverage is often many times the position itself, so the benefit of having it is that any profits earned are multiplied by the same factor. But as this also applies to losses, it’s easier to get liquidated with leverage if the bet doesn’t work out. In the cryptocurrency sector, assets can often be volatile and positions tend to be overleveraged, so a squeeze can occur from time to time. During the past day, the market has once again seen a surge in volatility, which has led to yet another liquidation squeeze. Here is a table that breaks down the relevant numbers related to this event: As is visible above, the cryptocurrency derivatives sector has registered a total of $268 million in liquidations during the last 24 hours. Out of these, $217 million of the positions involved were bullish bets. The long contract holders taking the brunt of the liquidations is naturally down to the fact that the altcoins have gone through a price crash inside this window. Now, here is a heatmap that displays how the contribution to the squeeze has looked from the individual assets: Generally, Bitcoin (BTC) tops this list, but it would appear that the number one cryptocurrency has failed to make even the top two this time around. This is due to the fact that the coin has seen relatively flat movement during this crash of the altcoins. Related Reading: Dogecoin Open Interest Plunges 58%: How Do Shiba Inu & Pepe Compare? Ethereum (ETH), the largest among the altcoins, has provided the largest share of liquidations at $56 million. Solana (SOL), which has faced the worst decline among the top 10 digital assets of 6%, has come second at $33 million. ETH Price Ethereum made some recovery during the weekend, but it seems the coin has already retraced those gains to start the new week as its price has gone down 4%, dropping to $2,700. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
I set 3 limit orders at various prices points, 1.134, 1.138 and 1.142. The market price reached 1.14, and I saw a message saying "pending execution" for the first 2 orders, but they didn't happen. Why? For clarity, the actual "Fills at" prices were well below market price. This is my first time working with…
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OKX’s Aux Cayes FinTech Co. Ltd agreed to pay over $500 million worth of fines for operating an unlicensed money-transmitting business.
OKX’s Aux Cayes FinTech Co. Ltd agreed to pay over $500 million worth of fines for operating an unlicensed money-transmitting business.
Bitcoin currently hovers at $93,983, boasting a valuation of $1.86 trillion and a 24-hour trading volume of $35 billion. Its intraday movement oscillates between $93,607 and $96,480, resting 13.6% beneath its historic price peak. Bitcoin On the BTC/USD 1-hour chart, fleeting fragility persists as bitcoin carves successive troughs and wavers near the $93,607 support. Bears […]
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