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- The decline in crypto markets since Monday evening (UTC) has caused nearly $ 300 million in all future crypto contracts, data from the Coinglass analytics tool has shown.
More than 109,000 merchant positions were closed in the last 24 hours.
Bitcoin prices rose more than $ 52,000 on Monday before falling sharply to $ 3,000 earlier on Tuesday, resulting in a total loss of more than $ 94 million.
Such figures last appeared earlier this month after bitcoin dropped as low as $ 41,000 from a high around $ 69,000 in November. Losses due to the closure of property exceeded $ 435 million at the time.
Termination occurs when the exchange severely closes the trader’s position as a means of security due to the partial or complete loss of the trader’s first gene. They occur mainly in futures trading, which only tracks property prices, as opposed to spot trades, where sellers do not own real assets.
About 80% of the $ 300 million in deductions occur in long positions, which are futures contracts in which traders bet on inflation. Crypto exchange Binance saw $ 119 million in liquidity, most among major exchanges, while traders on FTX took $ 78 million in losses.
Futures in ether, the native Ethereum network fund, saw more than $ 57 million in completion. The loss of futcoin futures was low, with traders Solana (SOL) and Terra (LUNA) taking just over $ 9 million in losses.
The small figures for the elimination of altcoins compared to bitcoin suggest that the recent rise in prices for SOL and LUNA was mainly driven by spot trading.
Open interest rates - the total amount of uncorrected futures or derivatives - bitcoin fell by 0.2% despite losses, meaning that less money came out of the market despite the decline.
Data from Coinglass shows futures positions worth $ 19 billion in bitcoin remain open last week of 2021 and a total of $ 11 billion in the future of ether.
The figures are several times higher than those of altcoins, with a solana future only with open interest rates of more than $ 1 billion by 2022 between major cryptos.
