In the aftermath of last week's cryptocurrency market crash, the Huobi exchange has launched a liquidation mechanism that would pull the plug on trading should prices become too volatile.
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Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations
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The Singapore-based firm said Wednesday the new mechanism, integrated into its crypto derivatives marketplace, would halt all liquidations – where a trader's position is automatically closed – during periods when volatility starts to present a real risk for traders. Huobi's new feature comes a week after several crypto derivatives exchanges reported record liquidations following a sudden collapse in the bitcoin price. BitMEX registered more than $700 million in just 15 minutes last Thursday as bitcoin (BTC) plummeted through its support levels.
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