The Block researcher: dYdX Insurance Fund lost $8 million due to high-profit trading strategies that led to a large number of YFI liquidations
The Block researcher Steven posted on X platform that it appears dYdX's insurance fund lost $8 million due to high-profit trading strategies, which caused a large amount of YFI liquidation a few hours ago. Earlier, blockchain data analysis platform Arkham stated on X platform that as YFI plummeted, about $50 million of open positions on dYdX were closed. Prior to this, nearly half of YFI's open positions were opened on dYdX. Arkham added that YFI's trading volume on dYdX is usually very low, but the skyrocketing price of the token in the past few days has led to a peak of open contracts of about $60 million.
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