FTX: The overall crypto market pump has liquidated around $1B worth of shorts. But about 82% of that amount has been liquidated from the FTX exchange.
Bitcoin has crossed the $20,000 level. Due to this price increase, more than $750 million worth of shorts have been pulled out of the market, according to data from Coinglass.
At the time of writing, FTX accounted for 81.76% of the liquidations, amounting to over $618.39 million. Of this, $101 million in longs and $516.94 million in shorts have been liquidated. The liquidation amount is the largest ever recorded on the exchange since its inception in 2019.
Binance Exchange is the runner-up in exchange liquidation. This accounts for 5.9% of the liquidations. This amounted to $44.6 million, which is nowhere near liquidation in FTX.
Binance Derivatives Volume Dominance Over 50%, While FTX Dominates 8.8%, It is quite amusing that SBF dominates in lead exchange liquidations, even though its dominance in derivatives trading volume is quite low.
TeaWicked actor in that industry?
Centralized exchanges have data about the price range that most trades will be liquidated. Traders have repeatedly accused certain exchanges of front-running liquidation.
Popular crypto YouTuber Ben Armstrong has taken another dig at FTX exchange and Sam Bankman-Fried. He tweeted, “There is a rogue actor in this field who thinks they are untouchables.”
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