The drop in the cryptocurrency market last night negatively affected traders who traded with leverage. It turned out that an investor trading on the Binance exchange lost $ 55 million from just a single Ethereum (ETH) transaction. The investor, who traded in the ETH/BUSD futures parity, held 38,986 ETH positions.
In the minutes when the altcoin unit dropped around $1,550 overnight, the Binance investor lost all the tokens he was carrying. The positive news about Ethereum after the claims from SpaceX caused the price to rise again. Sources claimed that SpaceX sold $370 million worth of BTC assets. Speaking to Bloomberg, an official stated that the SEC will soon give the green light to Ethereum funds.
The price of the leading altcoin has now risen again to the level of $ 1,680. However, the money lost by the trader trading in the leveraged market will not come back.
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