Data shows cryptocurrency derivatives exchanges have racked up liquidations as Bitcoin and other assets have gone through a price retrace.

Crypto Liquidations Have Crossed $500 Million During The Past Day

According to data from CoinGlass, a massive amount of liquidations have piled up on digital asset derivatives platforms following the latest market volatility. “Liquidation” refers to the forceful closure that any open contract undergoes after it has incurred a loss of a specific degree (as defined by the exchange).

Fast, violent moves tend to catch a large number of contracts off guard at once, so mass liquidation events tend to accompany them. The same has been the case with the volatility shown by Bitcoin and the company during the…