Ethereum Faces Massive $58 Million Long Position Liquidation
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Ethereum has always been a favorite cryptocurrency of investors, and for good reason. The second-largest cryptocurrency by market capitalization has delivered impressive results over the past few months. However, the recent flash crash in Ethereum prices has resulted in the largest liquidation of ETH long positions in over a month.
Ethereum Records 1-Month High Liquidation
According to Coinglass data, over $58 million worth of ETH long positions have been liquidated as a result of the sudden drop in prices. This has undoubtedly caused some panic among investors, especially since this is not the first time we’ve seen such an incident. On March 22, over $31 million worth of long positions were forcefully closed, indicating a similar incident occurred in the past.
Volatility in the crypto market is nothing new, but it is essential to understand how it affects the prices of assets such as ETH. The magnitude of long or short liquidations can be used to measure the general volatility in the market. This, in turn, indicates how fast or slow an asset’s price moves within a given period.
The current market volatility highlights the importance of keeping up with market trends and understanding the risks associated with trading crypto assets. Derivatives exchanges like OKX and Binance, where the majority of ETH long positions were liquidated, can be risky for investors who are not familiar with the platform’s intricacies.
It is crucial to remember that the crypto market is highly unpredictable, making it challenging to anticipate price movements accurately. However, staying informed about market trends and being aware of the risks involved can help investors make informed decisions.
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