On this day, Bybit experienced the highest total liquidations at $322.60M, representing 41.68% of the overall market, with $280.14M in long liquidations and $42.46M in short liquidations, followed by Binance with $134.55M total liquidations (17.38%), and OKX with $103.59M (13.38%), demonstrating significant market volatility and a disproportionate impact on Bybit traders.$BTC
The Pump.fun X account was compromised on Feb. 26 to promote a fake governance token called "PUMP," in the latest cybersecurity incident to impact the crypto industry.
Online sleuth ZackXBT warned users to stay away from the page and not to interact with any links posted by the compromised social media account.
"The official Pump.fun governance token, where democracy has never been this degen. We will also be rewarding our OG degens," the hacker wrote in a message advertising the fake token.
There is many tips from experts in trading to avoid massive loss and I would like to share 3 important tips in future trade with bonus tips
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1. Understand Leverage and Risk Management:
- Leverage allows to control a large position with a relatively small amount of capital. However, it also amplifies potential losses. Always use leverage cautiously and never invest more than you can afford to lose.
- Implement strict risk management strategies, such as setting stop-loss orders to limit potential losses and taking profits at predetermined levels.
2. Stay Informed and Adapt to Market Trends:
- The crypto market is highly volatile and influenced by various factors, including regulatory news, technological advancements, and market sentiment. Stay updated with the latest news and trends to make informed trading decisions.
- Regularly evaluate and adjust your trading strategies based on market conditions and performance analysis.
3. Practice with Paper Trading and Backtesting :
- Back to oldskool way committing real capital, use paper trading to simulate trades and test your strategies in a risk-free environment. This helps you understand market dynamics and refine your approach without financial risk.
- Backtesting your strategies against historical data can provide insights into their potential effectiveness and help you optimize them for better performance.