As concerns about the global economic recession and the ignition of war in the Middle East gradually increase in the investment market, everything from the stock market to the currency market has been bloodbathed today. The liquidation amount of the centralized exchange (CEX) reached as high as 1.06 billion U.S. dollars, and the total amount of various DeFi protocols also More than $350 million in loan and leverage liquidations occurred.
(Is war in the Middle East about to break out? Stock market massacre, Bitcoin fell to 52K)
CEX liquidates $1 billion in a single day, and bulls suffer heavy losses
CoinGlass data shows that CEX has seen more than $1.06 billion in futures liquidations in the past 24 hours, with about $900 million in long positions and only $153 million in short positions.
It is reported that Bitcoin and Ethereum traders, as the main liquidation targets, endured more than 700 million US dollars in liquidations, and the largest liquidation occurred in Huobi HTX’s BTC-USD contract, worth 27 million US dollars.
DeFi protocol liquidation amount hits annual high
In addition, on-chain analysis team Parsec Finance also pointed out that the total liquidation amount of DeFi protocols in the past 24 hours exceeded $350 million, setting a new yearly high.
It is reported that the liquidation mainly comes from the collateral liquidation of lending agreements and focuses on the following three assets:
ETH: $244 million liquidated
wstETH: Liquidation 106 million USD
wBTC: $69.8 million liquidated
Bitcoin dominance surges
With growing tensions in the Middle East, potential global economic recession, and potential concerns about a hard landing of U.S. monetary policy, the Asian stock markets that opened first this morning and the 24-hour crypto market were the first to experience widespread massacres, including the Nikkei 225 Index and South Korea. The composite stock price index KOSPI once plunged more than 8%.
In addition, Bitcoin has so far fallen below US$52,800, and Ethereum has reached a six-month low of around US$2,300.
(The Nikkei Index fell 7%, the Asia-Pacific market continued to sell off, and Japan’s micro-strategy Metaplanet fell more than 50% in five days)
At this point, the increase in global safe-haven demand has also occurred in the crypto market, with Bitcoin’s market share (dominance) rising sharply this morning, reaching a new annual high of 57.2%.
Bitcoin spot ETF sees largest net outflow in three months
In addition, the U.S. Bitcoin spot ETF market also faced its largest net outflow in three months on Friday, amounting to $237 million.
SoSoValue data shows that despite the surge in single-day outflows, the total transaction volume is not much different from usual times.
However, with bad news and market sentiment turning gloomy, the opening of U.S. stocks tonight may also see a larger flight of ETF funds.
This article Bloodbath in the Currency Market｜Exchanges liquidated more than US$1 billion in a single day, and DeFi liquidated US$350 million, a new annual high. It first appeared in Chain News ABMedia.
