The growth of the insurance fund of BitMEX slowed down in March, and it was just about a 100 BTC. It fell down from the figures of 1250 in February,  459 January and 484 in December.

BitMEX faced a lot of flak when bitcoin's price crashed on the 12-13th of March. The exchange went for a temporary shutdown for half an hour. The BitMEX exchange came out in its defence and stated that the insurance funds are not meant for reimbursing losses and are only to avoid its customers who are in profit from auto-deleveraging.

The insurance fund went up and down drastically on the days of the market meltdown. It went down heavily on 12th March and increasing by quite a much on the very next day. It continues to drop gradually even during the period of high volatility that followed, which showcases that contrary to the popular belief, volatility and liquidation is not always good news for exchanges like BitMEX.

A report by<a href="https://datamish.com/btcusd"> datamish</a> has suggested that $571 million and $2.6 billion in shorts and longs were liquidated in the last 30 days, respectively. Probably the most interesting development is even during such a meltdown, the insurance funds of BitMEX has increased, slightly.
<h2>Hard Times For BitMEX</h2>
BitMEX's woes of last month also included the slippage of XRP contract in the market. The exchange stated that the criticism is uncalled for as these things are part of the market.

Crypto trader XC leapt to its defence and when others were criticizing the exchange stating that there's enough data to suggest that BitMEX isn't the only one as this sort of slippage was experienced on other platforms as well, and gave the example of ByBit telegram and in the cartel of having a $50-100 slip up.


Articles You May Read.
<ul>
 	<li><a href="https://www.cryptoknowmics.com/news/corona-coin-vs-bitcoin-which-of-these-two-will-prevail-ultimately/">Corona Coin vs Bitcoin: Which of These Two Will Prevail Ultimately?</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/donations-in-bitcoin-helping-italy-in-fighting-corona/">Donations in Bitcoin Helping Italy in Fighting Corona</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/coronavirus-and-the-crypto-world/">Will CoronaVirus And The Crypto World Shape A New World Order?</a></li>
</ul>

Insurance Funds of BitMEX Slowed Down in March

The growth of the insurance funds of BitMEX went down significantly during the market meltdown in March and stood at around 100 BTC.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Insurance Funds of BitMEX Slowed Down in March

Top Picks