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.
Glassnode points out that this amount was the biggest daily value to date.
Alex DovbnyaAs 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.
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.
Dan Burgin
Vladislav Sopov