Futures Market Liquidation Amount Records 251 Billion Won in a Day
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According to on-chain analysis platform CoinGlass's data on the 12th, Ethereum's liquidation amount in the futures market recorded approximately 180 million dollars (about 251 billion won).
Ethereum had surged about 38% in a week following the Pectra upgrade last week. However, it subsequently dropped by about 9% on the 11th due to large-scale liquidations in the futures market.
The cause is speculative fervor in the futures market due to Ethereum's sharp rise.
According to data released by CoinGlass, as of the 12th, Ethereum's long and short betting liquidation amounts were approximately 99.87 million dollars (about 139.3 billion won) and 79.95 million dollars (about 111.5 billion won), respectively. This significantly exceeds Bitcoin's futures market liquidation amount of 74.25 million dollars (about 103.6 billion won).
As of 10 AM on the 12th, Ethereum was trading at around 2,544 dollars on CoinMarketCap.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
