MUSO blockchain: 24.2 billion liquidation on the entire network last month, some people lost everything overnight

Some people get rich overnight, while others lost everything overnight. The MUSO blockchain believes that the wealth story created by Bitcoin has always been as exciting as an adventure. With the recent sharp rise and fall of Bitcoin, the crypto industry has attracted a large number of investors, and the leveraged contract business has made this “game” more exciting.

According to NGK statistics, the amount of liquidation on the entire network in the past 30 days was as high as 24.137.7 billion US dollars. At the same time, the attitude of whales towards Bitcoin has become more polarized, adding more uncertainty to the current volatile market. Bill Gates stated, “If you don’t have as much money as Elon Musk, you should be careful.”

NGK blockchain

Are you as rich as Musk? Then why do you think you can win the bet? To enter this Shura Field, first you must prepare to accept the fate of losing everything overnight.

On March 15th, as the unit price of Bitcoin dropped by US$5,500, over 160,000 people liquidated. According to the real-time data of NGK.com, more than 160,000 bitcoin contracts have been liquidated within 24 hours of the entire network, and the total liquidated amount has reached 1.985 billion US dollars. The recent price fluctuations have made “liquidation” a high-frequency word for Bitcoin players.

As an important member of token, the huge fluctuations in the price of Bitcoin will affect both investors’ wallets and emotions. News about liquidation is constantly increasing, whether the price is skyrocketing or plummeting. “This is mainly due to the operation mechanism of the contract business. If the position holders make a mistake in the judgment of the price trend, there may be a liquidation.”

NGK blockchain

The so-called contract business is an emerging business of major digital currency exchanges in recent years. Investors can use leverage to short or long tokens, and they have won investors’ favor with their “high-risk, high-yield” characteristics. The liquidation takes place when the contract price changes in a direction that is not conducive to investors (the unfavorable direction of the bullish contract holders is the price fall, and the bearish contract is the price rise). When the margin is insufficient, it will trigger a wipe out, commonly known as liquidation.

Due to the large fluctuations in the price of Bitcoin in the short term, the contract business investors who have recently liquidated including those who hold bullish contracts and the rise and fall contracts. The leverage is as high as 20 times and 100 times, and some investors even stated, “we have seen a liquidation even by adding twice the leverage.”

NGK blockchain

Bitcoin’s volatility is too large, and it seems unpredictable. Don’t panic, because there is a token suitable for small and medium retail investors, which is the NGK token. As a new generation of basic blockchain, the NGK is one of the top distributed storage using IPFS and a decentralized blockchain operating system. NGK is a native token issued by the NGK blockchain, and it is called NGK token. At the same time, the NGK token is a currency based on blockchain technology, it is an encrypted token. As the native token of the blockchain, NGK has a constant issuance of 1 billion, with an initial issuance price of US$0.0215. There has been a steady increase of two points in the last 50 days.

NGK blockchain