In the past 24 hours, the total net liquidation across all platforms was $665 million, triggering a long and short squeeze.
March 24: Per Coinglass data, total crypto liquidations over the past 24 hours hit $665 million, with $296 million in long position liquidations and $369 million in short position liquidations.
Globally, 127,000 traders were liquidated in the same window. The single largest liquidation was a $16.275 million ETHUSDT_UMCBL position on Bitget.
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World Gold Council: Driven by Geopolitical Risks, More Central Banks Will Increase Gold Holdings
**March 24 (FX678) — Shaokai Fan, Global Central Bank Director at the World Gold Council, said Tuesday that gold—positioned as a hedge against de-dollarization and geopolitical risks—could drive previously inactive central banks to buy the precious metal this year.**
Recent months have seen central banks from Guatemala, Indonesia and Malaysia begin gold purchases, with these institutions either re-entering the market after a long hiatus or making their first-ever gold buys. “Over the past few months, some new central banks—either long inactive or absent from the gold market—are entering the space. I expect this trend to continue through 2026,” Fan noted.
He added that some central banks are also purchasing gold from domestic small-scale producers to support local industries and prevent these reserves from flowing to “non-regular participants.” During last October’s gold sell-off, central banks seized the opportunity to boost holdings, but it’s still too early to tell if a similar
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Hong Kong Woman Scammed in Online Romance, Loses Over 5.5 Million Hong Kong Dollars to Cryptocurrency Investment Scam
Hong Kong police announced on the social media platform "Protector" on March 24 that over the past few months, a 39-year-old local woman connected with a scammer on a mobile dating app—someone claiming to be an employee of a new energy company. The pair then shifted their conversation to WhatsApp, where they developed an online romantic relationship.
The scammer later recommended a fake trading platform, telling the victim she could earn high returns by investing in cryptocurrencies. Over just two months, the woman followed instructions from the platform’s customer service and transferred more than HK$5.5 million to multiple unknown personal accounts via the Faster Payment System. When the scammer vanished, the victim realized she’d been scammed.
Police are warning the public to exercise caution when making friends online, noting that scammers frequently pitch investments in precious metals and cryptocurrencies. In the past week alone, there have been 15 online romance scam cases
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Hyperliquid Crude Oil Contract 24-hour Total Trading Volume Surpasses $2.2 Billion, Second Only to Bitcoin
As of March 24th, HyperInsight data shows the 24-hour total trading volume of Hyperliquid Crude Oil Perpetual Contracts exceeded $2.2 billion—second only to the $2.22 billion recorded on March 9th.
Key breakdowns:
- CL (WTI Crude Oil Perpetual Contract) trading volume on Hyperliquid topped $1.25 billion, trailing only BTC ($3.78 billion) and ETH ($1.54 billion).
- BRENTOIL (Brent Crude Oil Perpetual Contract) volume exceeded $960 million.
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Polymarket has announced that its referral bonus program is expanding from the beta phase to all traders with over $10,000 in volume.
On March 24, Polymarket announced it’s expanding its referral reward program from beta to all traders with over $10,000 in trading volume.
Users can now earn corresponding rewards based on the trading volume of newly referred users. Additionally, nearly all newly launched Polymarket markets will be included in the market maker rebate program—this move aims to incentivize market makers and boost liquidity for new markets.
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A whale's long position in crude oil has been fully liquidated, resulting in a loss of $3.08 million
On March 24, per Onchain Lens data, a whale’s Brent crude oil long position was fully liquidated amid a sudden price drop, resulting in a $3.08 million loss. The whale’s cumulative losses have topped $4.4 million.
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