The XRP course on BitMEX experienced an instant crash of up to $ 0.13. Users reported a loss of funds

Bitcoin's ongoing volatility may be getting most of the attention from traders, but it's alsointeresting events could be observed inThursday, February 13, in the XRP markets. So, on the BitMEX derivatives exchange, as a result of an instant collapse of the exchange rate, the token at some point fell in price by almost 60%, dropping to $ 0.13.

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During a sharp collapse, the price of the XRP index, whichformed on the data exchanges Bitstamp, Coinbase and Kraken, deviated by only a few points. Nevertheless, some traders reported that the stop loss system on BitMEX did not work, because of which the positions were liquidated, and they themselves lost all funds.

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In the comments on the record of the injured trader, his statements, however, were called into question - for many other users, stop-loss worked in normal mode.

The alleged cause of the incident is the low liquidity of the XRPUSD market, which BitMEX launched last week.

As noted by NewsBTC, in order to avoid unexpectedBitMEX uses the so-called “fair pricing” of liquidations, when in cases of price manipulation, low liquidity or high volatility, the “fair price” is used instead of the last price.

No comments have been received from BitMEX representatives at this point, the XRP price has risen to around $ 0.325.

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