PHA rode the roller coaster all the way today: it was up 36% at noon, then down 24% by evening. It was dumped from a peak of 0.0664 back to 0.045. In the afternoon, it even dipped to a low of 0.0429—lower than the starting point of this rally.
On the CoinEx exchange alone, its futures volume was nearly $200 million. Among the coins that dropped more than 20%, its volume ranked first. Both sides of leverage got cut: last night, shorts were liquidated first at 0.061 and 0.062. Today around 1:48 pm, three of the largest long orders were liquidated in quick succession within about three minutes between 0.045 and 0.049.
In 24 hours, total liquidation added up to $13.7 million, with longs accounting for $8.4 hundred thousand. Total open interest across the entire network is only $10.82 million; compared with $200 million in trading volume, this round of ups and downs was basically driven by spot, while leverage was just along for the ride.
Do you think 0.045 can hold its ground?
Check in real time: https://www.coinboss.com/gainers-losers