Crypto Futures Liquidation Event Wipes Out $606 Million

A recent seismic event in the cryptocurrency market saw a staggering $606 million worth of crypto futures contracts liquidated in just one hour. This dramatic flash crash left many traders reeling and highlighted the inherent volatility of digital asset markets, with total figures reaching an astonishing $1,123 million within 24 hours. Experts attribute this surge to expanding decentralized finance (DeFi) applications and growing institutional investment.