Ether Long Liquidations Total $37.8 Million in One Hour Price Decline
Ether (ETH) saw a sharp decline on September 23, leading to significant long liquidations. Over the course of one hour, ending at 10:24 a.m. ET (14:24 UTC), ETH's price fell by 1.49% from $2,713 to $2,672. This downward trend resulted in a total of $37.81 million in Ether long liquidations.
Total Ether liquidations reached $38.47 million during the same period. The majority of these forced position closures were on the long side, with short liquidations accounting for just $660,000. The figures are based on publicly available data collected from Binance, Bybit, and OKX exchanges.
The decline in Ether's price has been a concern for investors and traders alike. However, it is essential to note that these figures only reflect the three mentioned exchanges and may not represent the entire market.