The volume of stops excecuting, coudpled with a lack of liquidity on the orderbook caused the price to run quickly. BitMEX employs a fair price marking system for this type of situation, which prevented a number of unnecessary liquidations in this case.We understand that price movements like this can be frustrating at times, however, there will be no rollbacks or refunds in this case.
The community cannot find a common consensus on whether the exchange or the traders have made a mistake, as such situations have often occurred in the past when a liquidation shortage occurred. Nevertheless, a sudden price drop of more than 50% in the 30 minute chart is very unusual for cryptocurrencies, despite a higher than average volatility compared to other financial trading systems.
Author : Collin Brown