FTX records largest short liquidation event in its history
Cryptocurrency exchange FTX hit a new record of over $936.24 million in short liquidations. This development, as reported, is the single largest liquidation event ever recorded by the exchange since its emergence in 2019. Notably, FTX edged past its contemporaries by a very wide margin. It is being trailed by Binance, which recorded $57.58 million, and OKX, with $46.72 million.
According to figures from the last 24 hours, the general crypto market recorded liquidations of about $1.1 billion on short trades, or stakes against price rises, reaching its highest since July 2021. Just on BTC, short liquidations were $280 million on Oct. 25 and a further $300 million of BTC shorts were liquidated on Oct. 26. Notably, these liquidations reportedly contributed to a short squeeze, as numerous tokens saw a rise in prices within the last 24 hours.
Source
https://t.me/InvestmentTradingUpdates
