Ethereum ETH/USD traders saw high-value liquidations over a short time frame on Monday.
What Happened: According to data from CoinGlass, there was $20.23 worth of ETH liquidations over a four-hour trading window as the asset’s price fell 7% to $1,573.
More than $17.7 million longs were liquidated, while only $2.28 million shorts were liquidated over the four hours.
Bitcoin BTC/USD saw $5 million worth of liquidations over the same period and Ethereum Classic ETC/USD saw $3 million liquidated.
Over the last 24 hours, more than 84,000 crypto traders were liquidated for a cumulative total of $196 million.
The single largest liquidation order took place on the crypto exchange ByBit on a BTC/USDT trading pair valued at $1.17 million.
Price Action: At press time, ETH was trading at $1,584, down 6.13% over the last 24 hours, as per data from Benzinga Pro. BTC was trading at$22,869, down 2% and ETC was trading at $33.45, down 9.3% over the same period.
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