ethereum Ethereum/USD Traders have seen $128 million worth of liquidations in the last 24 hours.
What happened: Clearing data from coin glass It shows that both long and short ETH traders experienced the same amount of pain on Tuesday.
Approximately $62 million of ETH longs were liquidated, while short traders were liquidated with the equivalent of $65 million. Crypto exchanges OKX, FTX, and Binance saw the most liquidations.
A number of high value liquidations took place as the second largest cryptocurrency was particularly volatile on Tuesday.According to data from benzinga proETH traded between intraday lows of $1,480 and intraday highs of $1,600.
of #ethereum Distrust from traders is strong during a week of particularly volatile trading.the crowd #short, the largest ratio since June 2021, across exchanges. Historically, price increases are more common in these conditions. https://t.co/DpG1E1TI9Y pic.twitter.com/e6xAWOXeFM
Santiment (@santimentfeed) August 30, 2022
Analysts at blockchain market intelligence platform Santiment noted that ETH funding rates plummeted on August 28 and 29 and remain relatively low.
“Historically, price increases are more common in situations like this,” Santimento said on Twitter.
Related item: How to buy Ethereum (ETH)
Overall, the cryptocurrency market has seen $236 million worth of liquidations in the last 24 hours. Bitcoin Bitcoin/USD It was the second most liquidated asset after ETH, with $52 million worth of liquidations. ethereum classic Ethereum/USDwas the third most liquidated asset, with a relatively modest liquidation worth $6.29 million at the time of writing.
