Valkyrie ETH ETF Futures Approval Brings $11M In Liquidated Ethereum Shorts


The first Ethereum exchange-traded fund (ETF) has been launched by Valkyrie Investments.

There were $13.78 million worth of liquidations over this time period, the vast majority of which were Ethereum shorts.

Liquidations are the process of selling off holdings in a portfolio when their value falls below a specified threshold. When the price of a cryptocurrency rises, traders who have bet on a decline are forced to close their short positions, and when the price falls, traders who have speculated on an increase are forced to close their long positions.

There was a total of $4.58 million worth of ETH liquidated on the OKX exchange. Of this total, bullish holdings accounted for $1.07 million and short ones for $3.52 million. Seventy-seven percent or thereabouts of the liquidations on OKX were short bets.

The total of $3.76 million was liquidated via the Binance exchange. This total included $718.98K from long holdings and $3.04M from short ones. Approximately 81% of all liquidations on Binance were short holdings.

Within the last day, liquidation occurrences affected more than 23,596 traders, with a total liquidation value of $71.12 million. Notably, a $2,000,000 liquidation order was placed on the Bybit market.

Also Read: According to CEO Brad Garlinghouse, the Ripple company will no longer buy Fortress Trust

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