Ethereum Surge Leads to Over $750 Million in Short Liquidations in 24 Hours

Over the past 24 hours, short positions worth $750 million have been liquidated in the cryptocurrency market.

CoinDesk reported on the 9th (local time), citing on-chain analysis platform CoinGlass data, that the surge in Ethereum (ETH) prices has led the cryptocurrency market rally, triggering over $750 million in short position liquidations in the past 24 hours. CoinDesk stated, "The short positions liquidated in the past 24 hours are the largest daily amount since 2023," and added, "Ethereum alone saw liquidations worth $310 million."

Additionally, about 85% of the liquidated volume in the past 24 hours came from short positions. The cryptocurrency exchanges with the most liquidations were Binance and OKX. CoinDesk reported, "The liquidation volume from positions on Binance and OKX alone exceeds $500 million."