According to statistics from CryptoQuant and Coinglass, $666 million worth of Ethereum short positions were liquidated earlier today as the price of the second largest cryptocurrency rose roughly 6% today, with numerous straight green hourly candles on the chart.
A CryptoQuant chart was shared by Moskovski Capital CIO on his Twitter page.
The traders who took these short positions were betting against Ethereum’s growth, and their leveraged trades were instantly liquidated, resulting in significant losses. This is a three-year high, according to CryptoQuant. According to another tweet in the conversation, Bitfinex had the most trades liquidated.
Meanwhile, mid- and large-scale Ethereum investors continue to pour into the ecosystem. According to Glassnode, the number of wallets holding more than 32 ETH has risen to a 13-month high, reaching 111,353.
The number of wallets holding 1,000 or more ETH has increased to 6,269, a one-month high.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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