Type to search

Bitcoin blockchain industry cryptocurrency rate News

Traders Lost $800 million due to the Rise of Bitcoin to $ 18.500

Share
Rise of Bitcoin

Traders lost $ 800 million due to the rise in bitcoin price to $ 18.5 thousand

During the day, positions of 73 thousand crypto-exchange users were liquidated. The largest loss was almost $ 5 million.

Rise of Bitcoin

Over the past day, traders’ positions for $ 793 million were liquidated on the cryptocurrency market, according to bybt.com. In total, 73 thousand users’ positions were closed, the largest liquidation occurred on the BitMEX exchange in a trading pair with Bitcoin. The loss was $ 5 million.

With a large rise in prices, the exchanges begin to forcibly close the contracts of those who were short. This is a standard mechanism of exchanges – in order not to lose money, they liquidate short positions of clients and take the funds left on security for themselves.

Most of the positions were closed on the Binance crypto exchange – for $ 285 million. Huobi is in second place with $ 198 million, OKEx is in third place with $ 107 million.

What are the reasons for the mass liquidation of positions?

Rise of Bitcoin

Mass liquidations took place against the background of the growth of the bitcoin rate to a new maximum since December 2017 at $ 18.5 thousand. Over the past day, the cryptocurrency has risen in price by 7%, since the beginning of this year – by 146%. Now the price of bitcoin is $ 17.8 thousand.

Read actual crypto news every day on news.bitxmi.com

Join Bitxmi Exchange

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

Leave a Comment

Your email address will not be published. Required fields are marked *

WP2Social Auto Publish Powered By : XYZScripts.com
bitcoin
Bitcoin (BTC) $ 19,112.76 0.69%
ethereum
Ethereum (ETH) $ 593.28 0.76%
ripple
XRP (XRP) $ 0.585936 1.96%
tether
Tether (USDT) $ 1.00 0.07%
litecoin
Litecoin (LTC) $ 82.90 0.78%
bitcoin-cash
Bitcoin Cash (BCH) $ 284.88 0.92%
chainlink
Chainlink (LINK) $ 13.24 0.34%
cardano
Cardano (ADA) $ 0.159049 2.69%
polkadot
Polkadot (DOT) $ 5.12 1.45%
binancecoin
Binance Coin (BNB) $ 29.64 0.24%
stellar
Stellar (XLM) $ 0.173047 1.15%
bitcoin-cash-sv
Bitcoin SV (BSV) $ 178.88 3.14%
usd-coin
USD Coin (USDC) $ 0.999584 0.03%
eos
EOS (EOS) $ 2.94 1.83%
nem
NEM (XEM) $ 0.262051 0.86%
monero
Monero (XMR) $ 131.92 0.43%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 19,114.99 0.65%
tron
TRON (TRX) $ 0.030503 0.78%
tezos
Tezos (XTZ) $ 2.32 0.35%
cdai
cDAI (CDAI) $ 0.020912 0.09%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.064096 0.25%
okb
OKB (OKB) $ 5.12 0.12%
filecoin
Filecoin (FIL) $ 29.99 1.31%
leo-token
LEO Token (LEO) $ 1.36 0.01%
neo
NEO (NEO) $ 17.89 0.22%
cosmos
Cosmos (ATOM) $ 5.28 0.47%
vechain
VeChain (VET) $ 0.017621 7.10%
aave
Aave (AAVE) $ 89.72 5.49%
dai
Dai (DAI) $ 1.01 0.04%
dash
Dash (DASH) $ 102.81 0.28%
iota
IOTA (MIOTA) $ 0.341181 3.61%
huobi-token
Huobi Token (HT) $ 3.91 0.02%
celsius-degree-token
Celsius Network (CEL) $ 2.32 1.61%
yearn-finance
yearn.finance (YFI) $ 28,250.00 0.24%
uniswap
Uniswap (UNI) $ 3.62 1.41%
zcash
Zcash (ZEC) $ 71.98 0.90%
waves
Waves (WAVES) $ 7.56 0.83%
theta-token
Theta Network (THETA) $ 0.728820 5.60%
havven
Synthetix Network Token (SNX) $ 5.33 1.59%
ethereum-classic
Ethereum Classic (ETC) $ 6.15 1.64%
binance-usd
Binance USD (BUSD) $ 1.00 0.01%
compound-ether
cETH (CETH) $ 11.91 0.96%
compound-governance-token
Compound (COMP) $ 142.38 0.34%
omisego
OMG Network (OMG) $ 3.68 2.06%
kusama
Kusama (KSM) $ 55.16 6.36%
compound-usd-coin
cUSDC (CUSDC) $ 0.021304 0.01%
maker
Maker (MKR) $ 527.63 2.32%
ontology
Ontology (ONT) $ 0.554292 1.65%
uma
UMA (UMA) $ 7.81 0.97%
dogecoin
Dogecoin (DOGE) $ 0.003407 1.31%