$1 Billion Crypto Liquidation Wave Hits Ether Longs Hardest

Leveraged ether positions were liquidated at roughly six times the rate of bitcoin during the latest market-wide unwind. Crypto derivatives markets absorbed a roughly $1 billion liquidation event, according to reporting from CoinDesk and CryptoBriefing. The bulk of the damage fell on traders holding leveraged ether positions rather than those exposed to bitcoin. Both outlets reported that ether longs were liquidated at approximately six times the rate seen in bitcoin during the same stretch. The disparity highlights how concentrated risk had become in ether derivatives ahead of the move.

Source: TheCoinrise