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$410 Million in Bitcoin Futures Liquidated on Binance – Largest Daily Value to Date

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Tue, 12/01/2021 - 9:47
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$410 Million in Bitcoin Futures Liquidated on Binance – Largest Daily Value to Date
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Recent analytics data shared by Glassnode states that, on Monday, Jan. 11, an eye-popping $410 million worth of Bitcoin long positions in futures contracts was liquidated on the Binance exchange.

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Glassnode points out that this amount was the biggest daily value to date.

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As a reminder, Bitcoin began correcting on Jan. 10 and continued the following day, losing over 20 percent overall and dropping from the $41,000 level down to $31,153.

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By now, however, the flagship crypto has recovered to the $35,800 area, according to data from CoinMarketCap.

Earlier this year, on Jan. 4, a whopping $190 million worth of Bitcoin in futures contracts was also liquidated on Binance in merely 10 minutes, causing Bitcoin to roll back from the $34,000 zone back to $30,000.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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