Liquidation of more than 160 million dollars after the price of Bitcoin rose above 22 thousand dollars
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Answer Liquidation of more than 160 million dollars after the price of Bitcoin rose above 22 thousand dollars
The cryptocurrency market continues to recover.
Over the past few days, the total market capitalization of the cryptocurrency market has gained a total of $150 billion, now exceeding $1 trillion.
Bitcoin price is currently trading at $22,000, which means an increase of 8% in the past seven days and 4% in the past 24 hours.
Ethereum, on the other hand, is the most prominent leader of altcoins in terms of price performance over the past days, after recording an increase of 30% in the week and 10% in the past day.
This resulted in a total market value of $180 million.Read:Australian senator calls for urgent regulation of stablecoins and digital yuan
The rise in the price of Ethereum led to the liquidation of positions that were betting on a decline in its price, as more than $160 million of short positions were liquidated.
According to the dataCoingLassThe largest single liquidation order occurred on the FTX trading platform, and was a perpetual contract with a face value of $2.83 million.
Ethereum is also on top in terms of total liquidated positions over the past four hours.
In total, 64% of positions were liquidated short across the most prominent trading platforms, with the largest liquidation volume on the OKX trading platform.Read:US Senator Warren warns and calls on the head of the SEC to regulate the crypto market
Why did the price of Ethereum (ETH) go up by almost 50% in 6 days?
Ethereum is testing the $1,500 level, and Bitcoin is hitting a new monthly high
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