Volatility in APE tokens ahead of a metaverse land sale on BoredApeYC caused million of dollars in losses to traders. By shauryamalwa
Liquidations in the crypto market occur when a trader has insufficient funds to fund a margin call, which is when an exchange asks for extra collateral to keep the trading position funded.
APE prices jumped to more than $27.50 on Thursday evening from $19 on Wednesday, before profit-taking saw the tokens decline to as low as $20.48 in Asian morning hours on Friday. Such movement occurred in an otherwise little-changed crypto market, with bitcoin and ether moving just 2% in the past 24 hours.APE has more than doubled from mid-April's levels around $11, with the volatility leading to an increase in trading volume on the token's futures.
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