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"March 12th" - Crypto Black Thursday, Records Set on That Day (Continuously Updating)

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"March 12th" - Crypto Black Thursday, Records Set on That Day (Continuously Updating)

Since March 12th, the cryptocurrency market has witnessed many astonishing records.

Table of Contents

Spot Market:
■ Major cryptocurrencies plummeted over 40% in 24 hours

Update at 11:45 am on March 13th, almost all major cryptocurrencies saw a drop of nearly 40%, with LEO becoming the tenth largest by market capitalization.

■ Total market capitalization evaporated over $80 billion in a single day (3/12), returning to February levels from last year

■ USDT market capitalization hits a historic high of $4.723 billion


■ Coinbase sees Bitcoin historical trading volume spike, with 113,500 bitcoins traded at $4,857 (the highest was 165,543 bitcoins traded at $444 on December 14, 2015)


■ Least stablecoin against USD drop - UNUS SED LEO (Bitfinex platform token) -3.39%
■ Highest drop against USD - Synthetix Network Token SNX -58.81%

Derivatives Market:
■ BitMEX Bitcoin futures liquidation amount is the second highest in a year (highest was in September last year)


■ BitMEX Bitcoin futures liquidation amount exceeded $500 million within an hour on 3/12


■ Top three Bitcoin futures exchanges OKEX, BitMEX, and Huobi traded volumes of 13 billion, 11 billion, and 9.3 billion respectively
■ Total trading volume of all Bitcoin futures exchanges on 3/12 reached a daily high since May last year


■ Binance Bitcoin futures trading funding rate reached as high as -0.3%
■ Deribit, the world's largest Bitcoin options exchange, saw its insurance fund balance drop from 392 bitcoins to 211 (only 44 left on 3/13)

Bitcoin Network:
■ Bitcoin hash rate reaches 110.631 Ehash/s, up 4.65% in the past 24 hours
■ No blocks were mined on the Bitcoin network from 7:50PM to 8:50PM

Ethereum Gas Fee:
■ Ethereum gas fee averaged 77.9 Gwei on 3/12, previously averaging around 12 Gwei

DeFi:
■ Top three DeFi project liquidation assets hit a record high of $24 million, triple the previous high

(Continuous updates)

Related Reading:

  • Real-time: US stocks plummeted in the evening of the 12th, triggering circuit breakers, Bitcoin dropped by 22%
  • Trump announces travel ban between Europe and the US, leading to a widespread drop in US stocks and Bitcoin

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