• Scale of losses: More than $19 billion (some sources report around $19.2 billion) was liquidated in just 24 hours.
• Number of affected accounts: Around 1.6 million accounts worldwide were wiped out to zero.
• Root cause: The market had previously overheated, fueled by excessively high financial leverage, while macroeconomic shocks and unexpected policy announcements from the real world triggered a cascade of mass automatic liquidations.
• What happened: Bitcoin and many other coins plunged after previously reaching record highs, wiping out long positions on a massive scale.
I was holding $NEAR at the time too 😅
• Number of affected accounts: Around 1.6 million accounts worldwide were wiped out to zero.
• Root cause: The market had previously overheated, fueled by excessively high financial leverage, while macroeconomic shocks and unexpected policy announcements from the real world triggered a cascade of mass automatic liquidations.
• What happened: Bitcoin and many other coins plunged after previously reaching record highs, wiping out long positions on a massive scale.
I was holding $NEAR at the time too 😅