CryptonomistOctober 22, 20262 min read
Crypto perpetual futures evolved
On March 12, 2020, BitMEX had just $20 million in buy orders against $200 million in pending liquidation sales. Its shutdown interrupted a liquidation cascade threatening the BTC derivatives market.
On March 12, 2020, BitMEX had just $20 million in buy orders against $200 million in pending liquidation sales. Its shutdown interrupted a liquidation cascade threatening the BTC derivatives market. That imbalance captures a recurring pattern in the evolution of crypto perpetual futures: crises drove changes to collateral, liquidation systems and the rules linking contracts […]
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