XRP futures only began trading on BitMEX not long ago. However, a new development has dampened the general enthusiasm towards the market’s third-largest crypto asset, on BitMEX. Within one single candle on the trading platform, the asset’s price plummeted down to $0.14 from $0.32.

The price crash was a whopping 56% plunge, an unprecedented development. In response, BitMEX traders were very upset at the event. One trader claimed that all of his funds were completely liquidated. In a tweet from a Marc de Koning, he said:

“WTF. F*UCK YOU BITMEX. This is really not okay! My stop didn’t trigger and my entire bitmex account is f*cking gone. F*ck you!”

The immediate anger was palpable as traders began to call out the trading platform, with some writing it off as a scam. Some even began to threaten a boycott.

However, per a recent development, BitMEX does not intend to return the funds. A subsequent tweet from de Koning includes a screenshot of a message supposedly from BitMEX, responding to the accusation.

BitMEX said:

“Our team has investigated, and we have determined that our stops and systems generally have performed as designed. The volume of stops executing, coupled with a lack of liquidity on the orderbook caused the price to run quickly…We understand that price movements like this can be frustrating at times, however, there will be no rollbacks or refunds in this case.”

Image Credits: Pixabay

The post XRP Plunges 56% On BitMEX Infuriating Futures Traders appeared first on Latest Crypto News.



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