Ethereum Shorts Rekt as ETH Price Keeps Climbing
The post Ethereum Shorts Rekt as ETH Price Keeps Climbing appeared on BitcoinEthereumNews.com. In brief More than $152 million worth of Ethereum short contracts were liquidated as ETH surged 9% to over $3,330, accounting for over half of all crypto liquidations in the past day. Ethereum trading volume jumped 15% to $132 billion, surpassing, while futures volume grew 27% and open interest increased 8.73%. Fresh positioning without excessive leverage suggests healthy market dynamics, with BitMEX founder Arthur Hayes declaring this “ETH szn” and planning DeFi investments. More than $152 million worth of Ethereum short contracts were liquidated as the price of ETH kept climbing on Wednesday. At $152 million, the liquidated Ethereum shorts account for more than half of the $251 million worth of crypto shorts that have been rekt in the past day. ETH traders are going bust at a faster clip than Bitcoin derivatives traders, too. Over the past day, Bitcoin’s more conservative 1.6% gain has left only $34 million worth of liquidated shorts in its wake. Ethereum was recently up nearly 9% over the past 24 hours to change hands at more than $3,330, according to crypto markets data provider CoinGecko. The price of the second largest digital asset by market capitalization has risen as two companies added significantly to their Ethereum treasuries and amid increased optimism about the underlying network’s usefulness. Patrick Gruhn, the former head of FTX Europe and now founder of crypto derivatives platform Perpetuals.com, said the ETH price has been particularly sensitive to and unpredictable due to recent regulatory news. “This unpredictability has likely contributed to volatility in the crypto markets, evidently primarily for Ethereum—possibly because it’s role as the largest smart contract-enabled blockchain, for which much of this legislation was drafted,” he told Decrypt, “whereas regulatory clarity on Bitcoin was more evident even before the legislation.” He noted that the Crypto GENIUS Act, Clairty…
The post Ethereum Shorts Rekt as ETH Price Keeps Climbing appeared on BitcoinEthereumNews.com.
In brief More than $152 million worth of Ethereum short contracts were liquidated as ETH surged 9% to over $3,330, accounting for over half of all crypto liquidations in the past day. Ethereum trading volume jumped 15% to $132 billion, surpassing, while futures volume grew 27% and open interest increased 8.73%. Fresh positioning without excessive leverage suggests healthy market dynamics, with BitMEX founder Arthur Hayes declaring this “ETH szn” and planning DeFi investments. More than $152 million worth of Ethereum short contracts were liquidated as the price of ETH kept climbing on Wednesday. At $152 million, the liquidated Ethereum shorts account for more than half of the $251 million worth of crypto shorts that have been rekt in the past day. ETH traders are going bust at a faster clip than Bitcoin derivatives traders, too. Over the past day, Bitcoin’s more conservative 1.6% gain has left only $34 million worth of liquidated shorts in its wake. Ethereum was recently up nearly 9% over the past 24 hours to change hands at more than $3,330, according to crypto markets data provider CoinGecko. The price of the second largest digital asset by market capitalization has risen as two companies added significantly to their Ethereum treasuries and amid increased optimism about the underlying network’s usefulness. Patrick Gruhn, the former head of FTX Europe and now founder of crypto derivatives platform Perpetuals.com, said the ETH price has been particularly sensitive to and unpredictable due to recent regulatory news. “This unpredictability has likely contributed to volatility in the crypto markets, evidently primarily for Ethereum—possibly because it’s role as the largest smart contract-enabled blockchain, for which much of this legislation was drafted,” he told Decrypt, “whereas regulatory clarity on Bitcoin was more evident even before the legislation.” He noted that the Crypto GENIUS Act, Clairty…
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