Over $150 Million Liquidated as ETH Price Skyrockets to a Monthly High

The price of ETH has exploded in the past couple of hours, reaching an intraday high at around $1420. This happens a day after developers confirmed that the ETH 2.0 merge is on track to happen in September.

According to data from Coinglass, the past four hours saw over $150 million in liquidated ETH positions.
The largest single liquidation order happened on FTX, and it carried a face value of $2.81 million.
Needless to say, the majority of the liquidated positions were short.
This happened on the back of ETH exploding by 7% in a single hourly candle, charting a high of $1422 on Binance.
Source: TradingView

 

The volume on that candle has been over $300 million.
The last time ETH was trading at these prices was back on June 13th, meaning that the cryptocurrency charted a monthly high.
Ethereum is up over 10% in the past 24 hours and a whopping 40% in the past 48 hours.
It’s worth noting that the increase comes a day after developers confirmed that the ETH 2.0 merge is on track to happen in September.

Read More?

Post is imported from RSS feed, by one of our guest editors. G6 does not edit or moderate the content. G6 is not responsible for your actions. No rights owned by G6. To remove the post, please email us at [email protected]

No Comments

Sorry, the comment form is closed at this time.