Mass liquidations reported on BitMEX

Posted 25 September, 2019

According to The Block analyst Larry Cermak the BitMEX exchange liquidated totaling $710 million. The trading volume under Bitcoin contracts amounted to about $1.5 billion, this is the largest value since the beginning of the year. At the same time, the average daily amount of transactions on the site in September is $1.35 billion, which is 37% lower than in June.

"Nearly $710 million was liquidated on BitMEX in the last 24 hours ($643million in BTC and $53M in ETH, $14million in EOS and XRP). Traded volume spiked a bit to $1.95B but still way lower than volume BitMEX saw in June and July," the expert noted.


This happened against the backdrop of bitcon price slump. The price stands now near $8,351, by 14.4% d-o-d. At the same time, the market capitalization of digital money dropped to $217.8 billion.

It is worth noting that this is not happening on the exchange for the first time. 

At the same time, the daily trading volume of bitcoin futures on the BitMEX platform on September 23 amounted to 270,000 BTC ($2.6 billion), while on the Bakkt platform this figure was only at 71 BTC ($690,000).

It is also worth recalling that in July, more than half a billion dollars was withdrawn from BitMEX wallets.

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25 September, 2019 16:50

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