Ether Liquidations Surge as Long Positions Lose $13.51 Million
Ether (ETH) experienced a significant drop in long positions on October 7, with $13.51 million in liquidations occurring within a single hour. The liquidations took place between 10:57 a.m. ET (14:57 UTC) and the end of that hour, coinciding with a 0.96% decline in Ether's price.
The data, compiled from Binance, Bybit, and OKX, revealed that long positions were entirely responsible for the liquidations, totaling $13.51 million, while short positions remained at $0. During the same period, Ether's price fell from $2,697 to $2,671.
Ether, the native cryptocurrency of the Ethereum network, is the second-largest digital asset by market capitalization. The liquidation data reflects public records from the three exchanges but does not represent a market-wide figure.