Over the last 12 hours or so, long positions worth more than $270 million have been liquidated, according to CoinGlass. In addition, the crypto market collapse saw the liquidation of $24.8 million in short bets.
A total of 116,630 traders were destroyed in the last day, and nearly $300 million worth of liquidations were made. Binance has only seen $2.89 million in liquidations, but it tops the list for centralized exchange derivatives liquidations.
Arthur Hayes, the former CEO of BitMEX, wasn’t unconcerned, stating that the TGA (U.S. Treasury General Account) filling, not the Binance FUD, was what had risk markets on edge.
According to Glassnode, Binance has yet to see major outflows, with around 10,000 BTC leaving the exchange. This equates to around a 1.5% decline in Binance’s balance, according to the analytics provider.