
Nearly $160 Million Liquidated in Crypto as Market Continues to Crash
The biggest liquidation order took place on Bybit, where a BTC/USDT trader lost $1.6 million.
The biggest liquidation order took place on Bybit, where a BTC/USDT trader lost $1.6 million.
HTX removes PI token, converting user balances to USDT ahead of Pi Network’s mainnet launch, as speculation and exchange listings grow.
Crypto exchange trading volume reached $18.83 trillion in 2024, rising 134% from 2023, with Binance leading and Crypto.com growing rapidly.
Traders betting on a market rebound were caught off guard as volatility spiked, leading to heavy losses, especially on Binance, OKX, and Bybit.
The current wave of liquidations has sent shockwaves through the entire crypto community, with many traders reassessing their risk management strategies.
The recent Ethereum price crash to $2,197 has attracted significant attention from long-term buyers seeking to buy at discounted rates.
Bitcoin price slip comes as spot Bitcoin ETFs recorded another major net outflow.
Christopher Hui, Secretary for Financial Services and the Treasury, emphasized the need for adaptable regulations. He assured that the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) will review requirements for virtual asset.
While the exchange grapples with these security challenges, Binance, the leading global crypto exchange, has seen a net inflow of $1.364 billion over the past seven days.
Liquidations across centralized exchanges accounted for the entire $159 million loss. Binance, the world’s largest crypto exchange, suffered the most.
Hong Kong’s SFC has decided to inspect crypto service providers, increasing the requirements expected of these companies.
One significant point in Zhao’s favor is his extraordinary acceptance of responsibility. According to the court document, the Probation Office has recognized his conduct as “remarkable” and “exceptional”.
HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the blockchain sector.
Sun has also sparked curiosity in the crypto community by exploring the possibility of launching a TRX-based ETF in the future.
Hong Kong’s crypto licensing regime began in June 2023 to set the tone for the way exchanges would offer retail trading services.