Crypto Market Liquidations Exceeded $139 Million Following Ethereum's New ATH
Following Bitcoin and Ethereum's sudden price rally, numerous short positions on the market were liquidated. According to Coinglass, $139 million worth of positions has been liquidated in the last four hours.
Previously, U.Today reported that Ethereum reached the new all-time high of $4,480, which has led to the liquidation of numerous highly leveraged positions. Daily growth on Ethereum now remains at about 4% daily.
The highest number of liquidations is tracked on FTX exchange with $100 million. The second place, Binance exchange, provided a $23 million liquidated position. According to the service, 55% of liquidated positions on FTX are shorts. The rate is at 70% for Binance.
The largest liquidation volume is coming from Bitcoin with $84 million worth of positions liquidated. The second-largest symbol is Ethereum, with $40 million worth of positions forcibly closed.
Today's series of liquidations is the highest since Oct. 27. But since the trading day is not over, the market might see an increase in liquidated funds if a rally on Bitcoin or Ethereum continues.Source