Volatile trading on futures tracking the tokens of Dogecoin (DOGE) and ApeCoin (APE) resulted in millions of dollars in losses to liquidations, data from tracking tools show. By shauryamalwa
APE futures saw $7.9 million in losses from short trades, representing 67% of the total. APE traded at the $17 level in European afternoon hours on Monday, rising to nearly $20 in early Asian hours today. Prices have since dropped back to the $17.88 level.
APE rose even as BAYC’s official Instagram handle was exploited late on Monday, resulting in some $3 million in losses, as. An unofficial"mint" link was sent out by the Instagram account to unsuspecting followers, with the wallets of those who clicked the link being compromised. The futures losses on APE and DOGE futures contributed to over $200 million in overall liquidations as the broader market rallied by some 3.2% in the past 24 hours. Bitcoin and ether regained previous support levels after dropping below them over the weekend, while Terra’s LUNA surged 10%.
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