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

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Tue, 01/12/2021 - 09:47
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Yuri Molchan
As per the recent data, a mammoth volume of Bitcoin futures was liquidated on Binance just as Bitcoin witnessed a 20-percent correction
$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.

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

BTC
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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.

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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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