Futures tracking ether saw over $230 million in losses in the past 24 hours as buying pressure built up on the world’s second-largest crypto by market capitalization ahead of an essential catalyst in September. By shauryamalwa
Futures tracking ether saw over $230 million in losses in the past 24 hours as buying pressure built up on the world’s second-largest crypto by market capitalization ahead of an essential catalyst in September.
Some $137 million in shorts and $93 million in longs were liquidated. Liquidation is when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader cannot meet the margin requirements for a leveraged position . Ether was trading at just over $1,000 last Thursday. The upward movement since then has caused losses of over $337 million in short liquidations, data from Coinglass shows. Saturday saw over $174 million in shorts liquidated, followed by $33 million on Sunday and $125 million on Monday as of writing time.
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