• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Thursday, June 8, 2023
SLC Online News
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Crytpocurrency

Crypto Futures See $300M In Losses After Spot Market Drops – CoinDesk

crypto-futures-see-$300m-in-losses-after-spot-market-drops-–-coindesk
Share on FacebookShare on Twitter

A drop in crypto markets from Monday evening (UTC) prompted almost $300 million in liquidations across several crypto futures, data from analytics tool Coinglass showed. More than 109,000 traders’ positions were liquidated in the past 24 hours.

Bitcoin prices rose above $52,000 on Monday before tumbling as much as $3,000 early Tuesday, causing over $94 million in liquidations. Such figures were last seen earlier this month after bitcoin fell as low as $41,000 from highs around $69,000 in November. Losses due to liquidations exceeded $435 million at the time.

W57WMFCAKZGFXH4DIHGCRJ4MJE

Bitcoin prices fell nearly $3,000 since Monday before seeing a brief uptrend to $49,500. (TradingView)

Liquidations occur when an exchange forcefully closes a trader’s leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin. They happen primarily in futures trading, which only tracks asset prices, as opposed to spot trading, where traders own the actual assets.

Nearly 80% of the $300 million in liquidations occurred on long positions, that is those belonging to traders betting on a price rise. Crypto exchange Binance saw $119 million in liquidations, the most among major exchanges, while traders on FTX took on $78 million in losses.

Futures on ether, the native currency of Ethereum, saw over $57 million in liquidations. Losses on altcoin futures were lower, with Solana (SOL) and Terra (LUNA) traders taking on slightly over $9 million in losses. The relatively smaller liquidation figures for altcoins, as compared with bitcoin, imply recent price surges for SOL and LUNA were mainly spot-driven.

TN6V6IZRFJHBBGLHGQJBWHNVZA

Bitcoin saw over $94 million in liquidations on Tuesday. (Coinglass)

Open interest – the total number of unsettled futures or derivatives – for bitcoin dropped 0.2% despite the losses, implying little money flowed out of the market despite the drop.

Data from Coinglass show $19 billion worth of futures positions on bitcoin remain open in the last week of 2021, and $11 billion worth on ether futures. The figures are several times higher than those for altcoins, with only solana futures carrying an open interest of over $1 billion into 2022 among large-cap cryptos.

UPDATE (Dec. 28, 13:27 UTC): Adds missing space in first paragraph.

8ba9bdd5 0fa0 4f4f 864f 0da5c290a777

Shaurya is an analyst/editor for CoinDesk’s markets team in Asia.


Subscribe to Crypto Long & Short, our weekly newsletter on investing.

By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy.

SLC Online News

© 2021 SLC Online News

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 SLC Online News

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT