BitMEx

The market crash that happened in mid-March and popularly called “Black Thursday” was serious such that it has prompted a far-reaching shift in dynamics among Bitcoin investors. The day was unforgettable for cryptocurrency investors as the market incurred a serious selloff triggered by liquidations on BitMEX platform. A remarkable change initiated by the event is the dip in Bitcoin balance on exchanges. According to data, the amount of Bitcoin removed from exchanges after the crash was more than 310,000. Perhaps…

How is trading cryptocurrencies different from other assets like fiat currency, stocks, or bonds? There are quite a few distinctions, but the main difference is that cryptocurrencies have their trading exchanges, either centralized or decentralized. In recent years, cryptocurrencies have grown in popularity and adoption. They offer cheap, borderless ways of sending and receiving money and new investment opportunities. Additionally, many people migrate to cryptocurrencies as stores of value to protect their wealth from individual and collective government inflation. This…

A few hours ago, Bitcoin attempted another rally to $10k, in which it attained $9,950 following the close of its candle on May 17. It could not attain the key $10k price point, since its correction to $9.9k. This move is yet to prompt a remarkable reaction from the derivatives market, possibly due to sellers’ deleveraging of their positions as they anticipated the current rally. According to the data provided by Skew.com, only $5 million was liquidated while the upsurge lasted…

The cryptocurrency futures market has been experiencing a shakeup since the cryptocurrency market crash which happened on March 12. The market crash led to the decision by BitMEX to lose some of its futures marketplace to Binance, says the cryptocurrency intelligence company Coin Metrics. Reports have it that BitMEX experienced two distributed denial-of-service (DDoS) attacks during the market crash last month. The attacks led to late processing of market orders and 156 accounts sustained losses. Since then, BitMex has lost market volume…

Perpetual contracts trading makes up a significant percentage of overall exchange-traded cryptocurrency volumes. Investors looking to bet on the price developments of BTC and other crypto assets are often not too concerned about holding actual tokens but are instead interested in trading highly liquid cryptocurrency derivatives such as perpetual futures contracts. Perpetual futures contracts on cryptocurrencies are financial derivatives enabling traders to bet on the price movements of crypto assets using leverage without owning the underlying digital asset.  A futures…

Many stock markets across the world may likely close due to the recent pandemic. BTC could save the financial world after the current crisis comes to an end. It has survived any shutdowns caused by the Coronavirus. The cryptocurrency market runs throughout, setting it apart from any other financial market. Famous crypto trader Dan Hedi revealed via a tweet that Bitcoin could be one of the last assets still trading despite growing market turmoil caused by Coronavirus. News media worldwide…

Bitcoin's continued decline is sending ripples through the crypto market. Yesterday, the coin registered its largest single-day crash in over ten months. The trading frenzy that ensued resulted in the crushing of BitMEX, the most profitable crypto-derivatives exchange.    BTC shed nearly 50% of its value to close at about $3,800, a decline that proved too much for the exchange's handling. Skew markets reports that BitMEX experienced liquidations of up to $863 million. Additionally, the platform saw the liquidation of…

Recently, Ethereum dropped by 10.54% from $240.47 to $215.13 in three hours. During the collapse, there were liquidations valued at millions of dollars on the BitMEX platform. According to data by Skew, massive liquidations occurred between the 26th of February and early on the 27th of February. Initial liquidations happened at about 16:00 UTC when Ethereum valued at $3 million (longs) liquidated on BitMEX. Seven hours later, liquidation worth $2.5 million occurred. The aggregated sell and buy liquidations recorded were…

Bitcoin prices have declined from the $10k mark to just about $9.8k, leading to severe liquidations of BTC longs at the BitMex platform, amounting to $57.8 million.  The possible reason for the declining price is the fast rise of the number of BTC futures open interests and contracts surpassing $1 billion but hitting more than $1.5 billion. This fast-rising led to a hike in the number of aggregated open interest in the top crypto exchanges like Bitmex to over $4…