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.
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.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.