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Traders Lost Over $400 Million Betting Against Ethereum & Bitcoin

According to the bybt service, 54,700 crypto traders have been liquidated for more than $ 454 million in the last 24 hours. The greatest loss per trade occurred on the Huobi crypto platform when partnered with Ethereum, totaling $ 6.15 million.

 

Traders who traded Ethereum suffered the most loss — $ 252 million. Bitcoin comes in second position in this metric, with daily liquidations of $ 155 million. Eighty percent of the trades that have been forcibly closed on the last day are short. This suggests that they were opened in expectation of a drop in quotations.

Ethereum’s price has risen by 5% in the last day, to $ 3.7 thousand. The bitcoin rate also jumped by 5%, and it briefly surpassed $ 50 thousand before reverting to its current level of $ 49.8 thousand.