Data shows the crypto futures market has seen liquidations of nearly $180 million during the past day as Bitcoin has surged toward $29,000. The “liquidation” of a futures contract happens when the holder accumulates losses equal to a specific percentage of the margin, leading to the derivative exchange with which the position is open to forcibly close the said contract. In the crypto sector, it’s not unusual to see a mass amount of liquidations happening at once because of the nature of the market. The benefit of taking on leverage is naturally that any profits earned will become more by the same factor as the leverage.
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