Binance ETH Long Liquidations Top $106 Million in One Hour, Highest in Six Months

According to CryptoQuant analyst Darkfost, hotter-than-expected U.S. inflation triggered more than $106 million in ETH long liquidations on Binance, the world's largest crypto exchange by trading volume, within one hour — the largest hourly liquidation of ETH longs on the platform in nearly six months. Darkfost noted that crypto futures trading volume is now roughly nine times spot volume, making highly leveraged markets more vulnerable to macroeconomic shocks. He added that expectations of another Federal Reserve rate hike have risen from 17% to nearly 30% in one week, intensifying pressure on derivatives markets. — link