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Ethereum (ETH) Shorts Liquidations Witness All-Time High as Ether Price Surpasses $3,500

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Tue, 05/04/2021 - 15:54
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Vladislav Sopov
May 4th, 2021, has been really painful for Ethereum (ETH) bears: liquidations go ballistic across all exchanges
Ethereum (ETH) Shorts Liquidations Witness All-Time High as Ether Price Surpasses $3,500
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Today, on May 4th, 2021, Ethereum (ETH) routinely printed another all-time high. While the Ether price smashes the $3,500 level, shorts liquidations set a new record.

Disaster for Ethereum (ETH) bears

According to analytical dashboard Cryptoquant, Ethereum (ETH) shorts liquidations printed a new all-time high. A total of $50 million in Ether short positions were erased in no time.

Ethereum (ETH) shorts witness evangelic liquidations
Image via Twitter

Thus, according to the Documenting Ethereum account, Ethereum (ETH) liquidations across all exchanges witnessed a fresh record.

The previous record was registered in January while the Ethereum (ETH) price surpassed $2,000 for the first time in its six-year history.

During the last 24 hours, the net USD equivalent of liquidations for top derivatives contracts exceeded the eye-watering level of $1,900,000,000, as seen by ByBit liquidations dashboard.

Ethereum (ETH) flips Bitcoin (BTC) in trading volume

This dashboard also indicated a monstrous $74.49 million Ethereum (ETH) liquidation on Huobi, a top-notch Asian exchange.

Also, on the majority of exchanges, Ethereum (ETH) trading volume has surpassed that of the flagship cryptocurrency. This fact was registered by Cryptowatch cross-platform dashboard.

Ethereum (ETH) surpasses Bitcoin (BTC) in 24 volume
Image via Twitter

As covered by U.Today previously, the Ethereum (ETH) network sets a number of records that follow its expanding rally over $3,500.

Related
Bitcoin (BTC) Flipped in Daily Fees by One Ethereum DeFi

Namely, on May 3, 2020, one Ethereum-based Defi, Uniswap, collected more fees than the entire Bitcoin (BTC) network.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)