Traders lost almost $1,000,000,000 per day due to the collapse of the crypto market

Another collapse of the cryptocurrency market left traders poorer by about $1,000,000,000.

What is known

We

wrote that the Bitcoin rate fell for the first time ina year and a half below $25,000. At the time of writing this note, the price of the cryptocurrency had already broken through the $24,000 mark. Because of this, traders lost $400,000,000 in just one day.

Ethereum is now worth just over $1,200, but during the day the rate dropped to $1,100 for the first time since January last year. Transactions with this cryptocurrency accounted for slightly less losses – $358,000,000.

As you understand, traders only trade ETH and BTC for 24hours lost about $758,000,000. Total losses amounted to $945,000,000. In total, 253,000 positions were forcibly closed within 24 hours. Liquidation on Bybit hit a record high – $4,000,000 paired with Bitcoin.

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