$80 Million Ether Worth of Liquidations Extend Ethereum’s Drop to $3,758
According to the date shared by Bybt analytics website, in the past hour a close to $215 million of total crypto positions has been liquidated.
BTC and ETH have fallen sharply. According to bybt, the total amount of liquidation in the past hour exceeded 215 million. pic.twitter.com/TzBGeWL84G— Wu Blockchain (@WuBlockchain) September 7, 2021
Around $80 million worth of Ether longs was liquidated. The amount of liquidated ETH shorts was $1.26 million in Ether.
The largest amount of ETH longs was liquidated on the Bybit exchange - $36.04 million. It is followed by OKEx and Huobi with $16.33 million and $12.48 million respectively.
This massive amount of long positions liquidated pushed the second largest crypto to the $3,758 level, taking another 4.5 percent away from its price. However, by now, Ethereum is recovering and at the time of writing the coin is changing hands at $3,918 on the Binance exchange.
It was followed by another $32.7 million worth of ETH liquidations.
ETHER EXTENDS LOSSES, DOWN 4.5% AT $3,758— *Walter Bloomberg (@DeItaone) September 7, 2021
It looks like that after seeing Ethereum revisit the $4,000 level, traders have started withdrawing profits.
Traders have also liquidated around $28.98 million worth of Bitcoin longs, according to Bybt.Source