Crypto traders are looking for answers after a massive flash crash that caused the price of XRP to drop 58% in an instant on the crypto exchange BitMEX.
As the price plunged from $0.34 to $0.14, a number of traders say their stop losses were not triggered and their positions were immediately liquidated.
https://twitter.com/JacobCanfield/status/1227958454343675908
https://twitter.com/Koning_Marc/status/1227956733571584000
So far, BitMEX has not commented on exactly what caused the crash or if the exchange plans to roll back the clock for traders hit with liquidations.
The collapse has triggered a debate on who, if anyone, is to blame.
Well there wasn't liquidity. Again, not Bitmex's fault. People should know the products/markets they're trading. Does it suck? Sure. Is it still their fault? Yes
Not to mention Marc has a seriously long history of not managing risk properly and getting massively rekt.
— Akado ????? (@AkadoSang) February 13, 2020
XRP is now trading at $0.3249 on BitMEX, which is close to the figure reported by the crypto price aggregator CoinMarketCap, which currently lists XRP at $0.3266.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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