Ether Liquidations Hit $356 Million in $1 Billion Crypto Wipeout
Ether accounted for about $356 million in liquidations over 24 hours, exceeding bitcoin’s total despite its much smaller market value.
A wave of crypto liquidations totaling roughly $1 billion included about $356 million in ether positions over a 24-hour period, according to CoinDesk.
Ether’s liquidation total exceeded bitcoin’s, even though its market capitalization was less than one-fifth the size of bitcoin’s.
Relative to market value, ether positions were liquidated at roughly six times bitcoin’s rate, highlighting the disproportionate impact on ETH traders during the period.
Source: CoinDesk
