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After the price of Ethereum fell below the $1600 level… Ethereum positions were liquidated by more than $230 million in one day

After the price of Ethereum fell below the $1600 level… Ethereum positions were liquidated by more than $230 million in one day

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Answer After the price of Ethereum fell below the $1600 level… Ethereum positions were liquidated by more than $230 million in one day

The Ethereum currency is among the most affected losers on a daily scale, as the price of the currency fell to its lowest level in more than a year, which we previously mentioned in the Arab Bitcoin through this Article.

Naturally, this caused collective pain for some traders, as Ethereum liquidated positions exceeded $200 million in 24 hours.

After a relatively positive trading week, Bitcoin and the rest of the market headed south strongly yesterday, possibly driven by record US inflation figures which posted an 8.6% year-over-year increase.

Read:Dogecoin project aims to provide Dogecoin transactions offline…Details here

Bitcoin went from over $30,000 to under $29,000 very quickly, and as usual altcoins suffered the most.

Solana, Avalanche, Polkadot and MATIC lost nearly 10% in one day.

Also, Dogecoin, Shiba Inu, Ripple and Cardano fell, and most of them fell by more than 3%.

All of this contributed to a decline in the total market capitalization by more than $80 billion per day, to reach below $1.15 trillion.

Ethereum lost more than 5% on a daily basis.

The second largest cryptocurrency fell below $1,600, which is its lowest price since March 2021.

As expected, the large fluctuation in the price of Ethereum made the liquidation operations rise remarkably.

In the last 24 hours, about $230 million worth of Ethereum positions were liquidated.

approaching Total liquidations of $400 million, which means that those related to Ethereum positions represent more than half of the total liquidated.

Read:The Swiss National Bank opposes the idea of ​​using Bitcoin as a reserve currency

In the last 24 hours, more than 100,000 traders suffered from the destruction of their positions.

Read also:

Bloomberg expands its cryptocurrency coverage list to the top 50 digital currencies

MoneyGram launches crypto-to-cash service in partnership with Stellar


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