$500M liquidated from the crypto market in the past 24 hours

Re:$500M liquidated from the crypto market in the past 24 hours by 1270018080 on Sunday June 12, 2022 @11:31PM (#31720747)

So, how can they know the crypto is getting liquidated into fiat currencies?

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Re:$500M liquidated from the crypto market in the past 24 hours by searealist on Monday June 13, 2022 @12:13AM (#31721019)

Because it would be reflected in the price of the crypto-currency it fled to. What crypto-currency is up in the last 24 hours?

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Re:$500M liquidated from the crypto market in the past 24 hours by tatertots1234 on Monday June 13, 2022 @03:10AM (#31722228)

Users can migrate to USDC and other stablecoins rather than only fiat.

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Re:$500M liquidated from the crypto market in the past 24 hours by searealist on Monday June 13, 2022 @04:02AM (#31722564)

same thing

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Re:$500M liquidated from the crypto market in the past 24 hours by tatertots1234 on Monday June 13, 2022 @04:44AM (#31722811)

Not really.

“Everybody is exiting crypto for another type of crypto” wouldn’t be much of a headline.

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Re:$500M liquidated from the crypto market in the past 24 hours by searealist on Monday June 13, 2022 @12:49PM (#31728105)

USDC is a essentially fiat.

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Re:$500M liquidated from the crypto market in the past 24 hours by 0des on Sunday June 12, 2022 @11:56PM (#31720900)

Excuse me but I'm trying to confirm some self reinforcing biases here; if you don't mind pausing the critical thought for a moment that'd help me a lot.

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Re:$500M liquidated from the crypto market in the past 24 hours by peyton on Monday June 13, 2022 @02:36AM (#31722003)

It’s coinglass 24hr rekt. https://www.coinglass.com/LiquidationData

These are leveraged positions getting liquidated, not spot trades for fiat.

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