Ethereum
Bitcoin, Dogecoin and Ethereum Volatility Generates $290 Million in Liquidations
Price volatility of Bitcoin, EthereumAnd Dogecoin Today, this didn’t affect most traders much, as each of the three cryptocurrencies ended up roughly where they started Monday evening. But the price surges appear to have sparked a wave of liquidations of cryptocurrencies, worth more than $290 million on the market.
Ethereum leads the pack, with approximately $58.9 million in liquidations triggered by ETH price action over the past 24 hours, according to data from CoinGlass. The majority of ETH-related positions liquidated on Monday were long positions.
While ETH only fell 2% Overall, the token briefly fell below $3,500 on Monday. Although this drop was minimal (ETH only fell $12 below $3,500 at its lowest point today) and the token quickly recovered, crossing this line may have triggered a wave of liquidations.
Dogecoin saw a similarly minor but significant decline today. The world’s most important coin only briefly fell below $0.13 today, before recovering within minutes. But this drop appears to have triggered a massive wave of long position liquidations for the token. Over $44 million in long DOGE positions have been liquidated in the last 12 hours alone.
DOGE is down 3.6% on the day as a whole.
Bitcoin, meanwhile, was the third largest cryptocurrency liquidation target today, with short positions making up a slight majority of liquidated positions.
Over the past 24 hours, some $21 million in short positions on BTC – and $19.86 million in long positions on the coin – were liquidated.
Although the price of the world’s leading cryptocurrency ended up, at the time of writing, almost exactly where it was a day ago, BTC briefly topped $67,000 on Monday afternoon, an unfortunate development for those betting on the token’s downward trajectory. BTC now sits, at the time of writing, at $66,376.
Edited by Andrew Hayward