The Block researcher: dYdX Insurance Fund lost $8 million due to high-profit trading strategies that led to a large number of YFI liquidations
The Block researcher Steven posted on X platform that it appears dYdX's insurance fund lost $8 million due to high-profit trading strategies, which caused a large amount of YFI liquidation a few hours ago. Earlier, blockchain data analysis platform Arkham stated on X platform that as YFI plummeted, about $50 million of open positions on dYdX were closed. Prior to this, nearly half of YFI's open positions were opened on dYdX. Arkham added that YFI's trading volume on dYdX is usually very low, but the skyrocketing price of the token in the past few days has led to a peak of open contracts of about $60 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
[Important] Bitget announcement: Delisting of XTERUSDT for futures trading and futures trading bots
New spot margin trading pair — S/USDT!
Will Ethereum Bulls Guide ETH to a Surprising 23% Price Surge?
Analyzing Potential Market Trends for a Significant Ethereum Price Jump

Exploring the Diminishing Crypto Speculation Amidst Slump in Futures Open Interest
Exploring the Decline in Open Interest and Reduced Market Enthusiasm for Major Cryptocurrencies and Memecoins

Trending news
MoreCrypto prices
More








