Hundreds of thousands of crypto traders are getting their positions liquidated as Ethereum (ETH) and the rest of the digital asset markets witness another large sell-off event.
Data from cryptocurrency futures trading and information site Coinglass shows that more than $521 million worth of crypto positions have been obliterated in the last 24 hours.
Traders who were betting on a relief rally suffered the brunt of the sell-off as over $443 million worth of long positions were wiped out over the past day. The volatility also didn’t spare traders who were expecting further downside as $86 million worth of short positions were decimated in the same timeframe.
As bears take control of the crypto markets, Coinglass reveals that Ethereum traders witnessed heavy losses between June 11th and June 12th to the tune of 168,000 ETH worth nearly $245 million.
At time of writing, Ethereum is changing hands for $1,459, down over 12% in the last 24 hours. Ethereum nosedived to $1,425 today, marking a 14th-month low for the leading smart contract platform.
At the heels of ETH is Bitcoin (BTC). Data from Coinglass shows that Bitcoin traders lost over 4,100 BTC worth $112.47 million in the past day.
BTC is trading for $27,486 at time of writing, down over 6% in a 24-hour timeframe.
All in all, Coinglass reports that 180,389 crypto traders were liquidated in just 24 hours.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mia Stendal/Tomasz Makowski
The post Over $521,000,000 in Crypto Liquidated in Just 24 Hours As Ethereum (ETH) Plummets to 14-Month Low appeared first on The Daily Hodl.
