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[Crypto Market Sell-off Erases Billions; Bitcoin Plunges] A Crypto Market Sell-off On Friday Led To Over $20 Billion Being Wiped Out And Approximately $65 Billion In Open Interest Erased, According To Jonathan Man. Bitcoin Experienced A 13% Drop Within An Hour, While Other Tokens Saw Steeper Declines, With ATOM Briefly Falling To Near Zero On Some Platforms. Man Observed That Auto-deleveraging Mechanisms Were Activated On Certain Venues To Manage Imbalances. Defi Liquidations Remained Contained Due To The Use Of Blue-chip Collateral And Stablecoin Price Limitations. Centralized Exchanges, However, Exhibited Significant Dislocations And Wide Price Disparities.
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