The ORCA contract on a major CEX has reached the maximum negative fee rate, with the 4-hour contract liquidation volume surpassing that of Bitcoin.

BlockBeats News, March 21st, according to Coinglass data, the ORCA contract on mainstream CEXs has reached an extreme negative fee rate, including:

Binance: -2%; Gate.io: -2%; Bybit: -2%; Bitget: -1.5%;

Currently, the total trading volume of the ORCA contract across all platforms is reported to be $314 million in the last 24 hours, with a 7578% increase. The total open interest of the contract across all platforms has reached $50.94 million. In the past 4 hours, ORCA contract liquidations amounted to $4.48 million, surpassing Bitcoin's $3.58 million and Ethereum's $1.93 million in liquidations.

BlockBeats previously reported that Upbit will list ORCA KRW, BTC, and USDT trading pairs, with trading scheduled to open on March 21st at 16:00 Beijing time.