In the past 4 hours, Binance futures liquidations totaled about $13.38 million, with long positions accounting for 87.6%. The largest liquidation was $ETH ($3.54 million).
At first, the liquidation figures looked alarming to me. Later, I realized these amounts are based on the notional value of positions, not actual losses. Also, Binance sends snapshots, with at most one update per trading pair per second, so the actual scale may be larger.
Unusually high readings often signal greater volatility. At times like these, it’s wiser to reduce your position rather than increase it.
#ETH
At first, the liquidation figures looked alarming to me. Later, I realized these amounts are based on the notional value of positions, not actual losses. Also, Binance sends snapshots, with at most one update per trading pair per second, so the actual scale may be larger.
Unusually high readings often signal greater volatility. At times like these, it’s wiser to reduce your position rather than increase it.
#ETH