Crypto Trading Platforms Liquidate $873M in Positions as BTC Price Crashes

According to CoinGlass analysts, the collapse of Bitcoin and other digital currencies has triggered a major liquidation of positions in the futures market.

As a result, cryptocurrency exchanges have canceled positions worth up to $873 million in the past 24 hours.

The largest closing was on long-term positions, which has amounted to $615.12 million.

Cryptocurrency exchanges Binance and FTX lead the rating of trading platforms in terms of the size of canceled contracts, with $287.51 million and $196.34 million, respectively.

The total liquidation of BTC and ETH positions per day amounted to $280.8 million and $233.32 million.