As the prices of Bitcoin BTC/USD and Ethereum ETH/USD shot up in the early hours of Tuesday, $1.65 million worth of cryptocurrency shorts were liquidated.
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What Happened: BTC and ETH moved up 3.1% and 4.3%, respectively, over 24 hours at 1:44 a.m. EDT.
At the same time, $975,710 worth of Ethereum and $309,920 worth of Bitcoin were liquidated in just the span of one hour. Ethereum dominated the liquidations at the time of writing.
Other notable coins that saw heavy liquidations included XRP and Ethereum Classic (ETC).
The exchange that saw the most shorts liquidated was OkEx — where liquidations worth $893,220 took place.
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