• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Ethereum

Ethereum Traders Lose $115 Million As ETH Recovers Above $1,600

Best Owie
by Best Owie
3 years ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum had entered a period of reversal after hitting $2,000 following the announcement of the date for the Merge. Since then, the digital asset had trended around $1,400 to $1,500 for a while. However, in the last day, Ethereum has seen significant momentum and demand, which has sent the price of the digital asset soaring. It finally broke above $1,600, leaving a trail of blood for traders who had bet against the cryptocurrency.

Ethereum Traders Lose Millions

Traders had bet massively against the price of Ethereum due to the decline in price. This quickly changed when the price of the digital asset went on another recovery trend. This time around, Ethereum’s price had quickly broken above $1,600, and tens of thousands of short traders were liquidated.

Related Reading: How Bitcoin Beats Wind And Solar In Reducing Emissions

Data from Coinglass shows that thousands of traders were liquidated for more than 73,000 ETH in the last 24 hours alone. This came out to more than $115 million already liquidated in the last day. The vast majority of these liquidations came from short traders who had been betting against the market at a rate of 78.75%.

Ethereum also saw the largest single liquidation for the last 24 hours after a position of $1.98 million was liquidated on the ETH-USDT-SWAP on the Okex crypto exchange. The majority of ETH liquidations had also been recorded on the crypto exchange, with 59.35%. 

Ethereum price chart from TradingView.com

ETH price recovers above $1,600 | Source: ETHUSD on TradingView.com

In total, more than $88 million in Ethereum shorts were liquidated, while only $23.87 million were long liquidations. It had also spilled out into the perpetual contracts with futures and options, where around $300 million had been closed in the span of one hour.

Getting Better Ahead Of Merge

The interest in Ethereum has no doubt surged significantly since the announcement of the Merge date. The initial hype had been what pushed Ethereum to the $2,000 level before the drawdown. Now, as the Merge draws closer, interest is starting to build once more, and this has pushed it above $1,600.

Related Reading: Bitcoin On-Chain Activity Picks Up Despite Downtrend

One interesting push behind the price recovery has been the accumulation of coins to get the forked tokens. A small group of developers had announced that they were planning to fork the Ethereum blockchain and keep it running on the proof of work mechanism.

The tokens from the fork will be sent to all current holders of ETH, and given how the BCH and other hard forks had gone in the past, investors are looking forward to taking advantage of this opportunity. With this trend, the number of wallets with 1,000 ETH on their balance had hit a new 15-month high.

ETH is currently trending above $1,600. With established support just above $1,590, the digital asset looks ready for another bounce.

Featured image from Coin News, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Best Owie

Best Owie

Follow

Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

Full Profile

Related Posts

Ethereum

Ethereum On-Exchange Holdings Falls To Multi-Year Low – Here’s How Much ETH Is Left

2 hours ago
OTC Whale Buys 60,333 Ethereum For $238.7M Despite Market Selloff

OTC Whale Buys 60,333 Ethereum For $238.7M Despite Market Selloff

5 hours ago
Ethereum

ARK Invest Forecast Highlights $25 Trillion Crypto Market Cap, Here’s How Much Ethereum And XRP Will Be

16 hours ago
Ethereum

Ethereum’s Big Players In Retreat Mode, But Here’s Who Now Has More Market Share

21 hours ago
Ethereum news

Buterin Teases Most Radical Ethereum Shift Yet: ‘Fusaka Will Fix This’

1 day ago
Visa Ethereum

Ethereum Head & Shoulders Pattern Reveals New Target, A Crash Below $4,000 Is Coming

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    14 hours ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    3 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    3 days ago
  • Snorter надхвърли $4 милиона след...

    4 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.