As a result of the collapse of the cryptocurrency market quotes, traders lost more than $ 808 million due to the mass liquidation of positions. The largest loss per trade occurred on the Binance crypto exchange paired with Litecoin and amounted to $ 10.37 million
The price of bitcoin for the first time since October 28 fell to the level of $ 58.5 thousand. During the day, the cryptocurrency fell by more than 10%. Bitcoin capitalization fell to $ 1.12 trillion. At 13:45, the first cryptocurrency is trading at $ 59.8K.
The decline in quotations may be due to the introduction of new reporting rules for crypto brokers and operators in the United States. On November 16, US President Joe Biden signed into law a law requiring digital asset organizations to report transactions over $ 10,000 to the IRS.
As a result of the collapse of quotations over the past 24 hours, positions of 203.9 thousand crypto traders worth more than $ 808 million were liquidated, according to the Coinglass service. The largest loss per trade occurred on the Binance crypto exchange paired with Litecoin and amounted to $ 10.37 million.
Bitcoin traders were hit hardest (almost $ 70 million in loss). Ethereum traders took the second place by this indicator, having lost $ 34.2 million. The third place with $ 17.2 million was taken by traders who traded Litecoin.
During the day, the price of Ethereum decreased by 11%, to $ 4.23 thousand, the cost of Binance Coin fell by 9%, to $ 589, and Solana also fell by 9%, to $ 221.