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$80 Million Ether Worth of Liquidations Extend Ethereum’s Drop to $3,758

News
Tue, 09/07/2021 - 09:57
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Yuri Molchan
Almost $215 million in crypto positions have been liquidated in the past hour; $80 million of that were liquidated in Ether, but the ETH price is recovering
$80 Million Ether Worth of Liquidations Extend Ethereum’s Drop to $3,758
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According to data shared by the Bybt analytics website, in the past hour, close to $215 million in total crypto positions have been liquidated.

Around $80 million worth of Ether longs were 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% away from its price. However, by now, Ethereum is recovering and, at press time, the coin is changing hands at $3,918 on the Binance exchange.

It was followed by another $32.7 million worth of ETH liquidations.

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Image via Bybt

It looks like, after seeing Ethereum revisit the $4,000 level, traders have started withdrawing profits.

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Traders have also liquidated around $28.98 million worth of Bitcoin longs, according to Bybt.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.