Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Gains
as $20 Million
Worth of Shorts Get Liquidated
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Gains as $20 Million Worth of Shorts Get Liquidated
A total of $20 million worth of Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum short and $1.9 long contracts were
liquidated in the past 24 hours, according to Coinglass.
By Tarang Khaitan
Jul 1, 2024 Jul 1, 2024
2 min read
Image created by Decrypt using AI.
Create an account to save your articles.
We do the research, you get the alpha!
Get exclusive reports and access to key insights on airdrops, NFTs, and more!
Subscribe now to Alpha Reports and up your game!
Go to Alpha Reports
Decrypt’s Art, Fashion, and Entertainment Hub.
Discover SCENE
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, the leading smart contract layer-1 blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн, has gained 3.2% in
the past 24 hours. ETH touched its intraday high of $3,514 earlier today and
is currently trading for $3,488. Derivative traders getting liquidated appears
to be the key factor for this upswing in the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum price .
A total of $20.4 million worth of ETH shorts were liquidated in the past 24
hours, which far outweighs the $1.87 million worth of ETH longs were
liquidated during the same period, according to derivatives analytics platform
Coinglass.
A short is a derivative contract that traders use to be against the price of
an asset going up. And a long is what traders use to be that an underlying
asset’s price will increase.
Another key event that the market participants are closely watching is the
approval of U.S• Соединённые Штаты Америки (США). spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs.
AD
AD
The U.S. Securities and Exchange Commission (SEC) has asked spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETF
issuers to submit revised filings by July 8 , according to Eric Balchunas,
Senior ETF Analyst at Bloomberg• Объект бренды » Бренды на b » Bloomberg.
This implies that spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs are likely to start trading sometime
during mid-July. Initially, analysts estimated that Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum spot ETFs would
get approved by July 2—but that now seems very unlikely.
SEC Chair Gary Gensler had previously stated that spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs would get
approved sometime during summer . At the Bloomberg• Объект бренды » Бренды на b » Bloomberg Invest Summit, Gensler
stated that the process of approval is going smoothly .
In a bid to attract institutional investors, some ETF issuers—like VanEck and
Franklin Templeton—have already announced fee waivers for their spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum
funds.
AD
AD
ETH is not the only asset to have witnessed an uptick in its price. The total
cryptocurrency market capitalization has increased 3.6% in the past 24 hours
and is nearing the $2.5 trillion mark, according to CoinGecko.
This is likely due to $81 million worth of shorts getting liquidated across
all assets in the past 24 hours. That’s offset by only $17 million worth of
longs being liquidated during the same period.
LayerZero and Ethereum Name Service were the top gainers in the top 100 coins
by market cap, as they registered gains of 27% and 24%, respectively. On the
flip side, Kaspa was the only coin trading at a loss of more than 1%. Kaspa
saw a downtick of 4% in the past 24 hours.
Edited by Stacy Elliott .
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a
podcast, videos and more.
STARTTEXT
Your Email• Коммуникации » Интернет-коммуникации » Электронная почта
Get it!
Get it!
AD
Your gateway into the world of Web3
Partner
News
Deep Dives
University
Coins
Videos
Event Calendar
News Explorer
Bitcoin Halving
About
Team
Disclosures
Manifesto
Terms of Service
Code of Conduct
1000x Member Terms of Service
Privacy Policy
Contact
Careers
Jobs
Shop