A Binance Investor Liquidated At $55.9 Million In Largest Order Of The Day

During a sharp drop in the market, an investor in Binance’s ETH/BUSD contract was liquidated at $1,434.37 for $55.9211 million, making it the largest liquidation order of the day. According to Wu Blockchain, this could potentially be a market maker who hedges on other exchanges.

During today’s sharp drop, an investor in Binance’s ETHBUSD contract was liquidated at $1,434.37 for $55.9211 million, which was the largest liquidation order today. This could be a market maker, which may hedge on other exchanges. In the same minute, a Binance BTCUSDT contract…

— Wu Blockchain (@WuBlockchain) August 18, 2023

At the same time, a Binance BTCUSDT contract with nearly $10 million was also liquidated. CoinGlass reports that the total amount of liquidation of ETH today is $308.49 million, with the aforementioned investor’s liquidation accounting for almost 20% of the total ETH liquidation.

As of this writing, BTC liquidation reached $500 million. In the past 24 hours, crypto traders have experienced liquidations worth over $1.04 billion due to market volatility.

During this period, OKX recorded the most significant liquidations, with almost $308 million in long positions liquidated, followed closely by Binance, which saw $189 million in positions held by bulls being wiped out, according to CoinGlass.

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Source: ethereum.today