Liquidations of perpetual futures positions reached a staggering $19 billion on Friday, marking a potential record for the industry, according to Coinglass. This significant event has impacted the market, with open interest for altcoin futures on Binance, the largest perpetual futures exchange, plummeting by 40% since Thursday. The sharp decline in open interest highlights the volatility and rapid shifts within the cryptocurrency futures market.
Perpetual Futures Liquidations Hit $19 Billion, Binance Open Interest Drops 40%
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