Silvergate’s Bankruptcy Brings Liquidation Domino
After the announcement of bankruptcy for Silvergate Bank, cryptos were under attack and many positions were liquidated in the market.
In Thursday 9 March and Wednesday 10 March, traders move more than $300 million from the market while the losses in Binance reached $104 million, in OKX $79 million and in Huobi $45 million.
The largest losses were evident in Bitcoin and Ethereum as the first one was trying really hard to stand above the $20,000 frontier, something that can’t happen at this moment.
We expect that more moves will happen in the sector that will bring new ups and downs in the market and will give the motive to new investors to get in the market and find their position in it.