Hong Kong-based cryptocurrency exchange BitMEX has liquidated positions worth more than $700M.
Larry Cermak, analyst at The Block, has said on his official Twitter account that BitMEX has liquidated bitcoin positions worth $643M, ethereum positions worth $53M and EOS and XRP positions worth $14M.
Nearly $710 million was liquidated on BitMEX in the last 24 hours ($643M in BTC and $53M in ETH, $14M in EOS and XRP). Traded volume spiked a bit to $1.95B but still way lower than volume BitMEX saw in June and July. pic.twitter.com/b68k2kvum7
— Larry Cermak (@lawmaster) September 25, 2019
Although the exchange's trading volume has risen to $1.95B, it has not exceeded the level reached in summer.
At the same time, the crypto market is experiencing a sharp decline, with bitcoin trading at 8,423.04 $ (-13.57%) at press time.
iHodl has reported earlier today that bitcoin has lost more than $1,000 over the last 24 hours.
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