Exzonbit Insurance Funds set a record
As of May 24, the Exzonbit insurance fund held more than 32,800 BTC, which is approximately $ 984 million at the current exchange rate of about $ 30,000 per coin.
Even with a slight increase of C1,000 BTC, noted in August, this value reached an all-time high.
Insurance Fund Exzonbit.com — these are the reserves of the platform that allow you to instantly pay for unfilled liquidation orders.
The crypto derivatives exchange does not require traders with a negative balance to pay immediately after the liquidation of their borrowed funds on the platform.
Here the exchange-traded insurance fund comes into effect, which is used for instant repayment of a successful transaction, guaranteeing the payment of profit to the trader.
As soon as the trader makes a payment, the money is sent back to the fund. If payment does not occur, the insurance fund will act as a guarantee for the payment of all profits.
The solid growth of the Exzonbit insurance fund in 2022, which as of May 24 amounted to 32,811 BTC, reached a historical maximum, amounting to 0.156% of the total BTC volume. This figure is 0.18% of the total number of bitcoins in circulation, which indicates the strength of the derivatives market in the cryptocurrency space.