Information from the derivatives market data provider showed that the altcoin’s long liquidations on that day represented its highest since the 23rd of May.In an asset’s derivatives market, liquidations happen when a trader’s position is forcefully closed due to insufficient funds to maintain it.
Whenever fewer trades are completed in an asset’s options market, it becomes less liquid. This often results in wider bid-ask spreads, making it potentially more difficult for participants to execute trades at desired prices. An asset’s Open Interest measures the total number of outstanding contracts or positions that have not been closed or settled. When it declines, more traders exit their positions without opening new ones.
Source: News Formal (newsformal.com)
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