JUST IN: $920,000,000,000 liquidated from the cryptocurrency market in the past 24 hours.

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I believe it’s leverage trading, people/businesses/whatever were liquidated so the funds go to the exchanges. It’s like betting with more money than you have, you can “long” a token and bet that the price will go up and gamble using borrowed funds, and if that price point hits you gain exponentially more than just buying the coin and seeing the number go up. But if the number goes down, bye bye to your money that you were betting with

Those who earn are those who lend? the rest are in debt!

It's something I would never have the courage to do. I actually have no money left

Ya like if I have $100 and wanna bet on eth going up I can essentially borrow, for example, another $200 so I’m gambling $300 that eth will go up to a certain point, if it goes down (to a certain level) I lose that money. Much different than just buying $100 of eth and hoping the price goes up and I earn an additional few bucks if it does, but only losing a few bucks if it doesn’t go up. So if I’m making this gamble on oh idk Binance, then Binance takes all my money since the price of eth dropped. Higher risk, higher reward, but most people who try to do this lose in the long run lol