Crypto traders endured the largest daily liquidation of long positions in at least 3 months, according to coinglass_com, as the market fell after an SECGov lawsuit against binance erased those betting on prices to rise. sndr_krisztian reports
Some $289 million of long positions – traders who bet on prices to rise – were wiped out during the day, marking the largest level of long liquidations in at least three months, per Coinglass.
Crypto markets nosedived Monday following the SEC suit accusing Binance, the world’s largest crypto exchange by trading volume, and its chief executive, Changpeng “CZ” Zhao, of offering unregistered securities, commingling user deposits and inflating trading volumes.
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