The tweet was deleted by the author.
But we saved everything 🙂.
Jordan Kerridge reports that over $1 billion in crypto positions were liquidated in the past 24 hours.
The tweet points out that this is one of the largest liquidation events since a similar occurrence almost a year ago. Kerridge raises the question of whether this marks a repeating cycle in crypto markets or if more significant losses may follow.
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Kerridge recently reported that Chinese stocks lost $1.295 trillion in value as the SSE Composite Index fell 2% and oil reached a 112-day high, raising inflation concerns. Earlier, he covered the addition of XRP to the Paxos Crypto Brokerage platform, allowing partners to offer XRP transactions and custody features to customers. The latest liquidation event adds to a series of notable market developments tracked by Kerridge.