Ethereum Liquidates Over 100 Million As The Price Crosses $1600 Mark

The general crypto market has seen some positive price rally in 24 hours. Many of the coins are trading in greens, including Ethereum with its 7.86% gains and Bitcoin with a 2.89% surge. Other altcoins such as PancakeSwap CAKE, SHIB, Ethereum Classic ETC, and Tether USDT are also in the greens. For instance, CAKE gained 3.6%, SHIB soared by 1.56%, while ETC recorded a good 8.38 price growth. Related Reading: Central Bank Chairs Push Bitcoin Price To The Downside, Will BTC Bounce Again? Currently, the ETH price is at $1,635 while the BTC price stands at $19304. Before the close of the market today, September 8, we might see more bullish support for the top cryptos and the altcoins too. But the recent price increase in Ether has spiked liquidations. Ethereum Price Growth Increases Liquidations Due to the price increase seen in ETH price, many of its leveraged positions are being liquidated. According to Coinglass, the total liquidations have reached close to $200 million in 24 hours. ETH positions were more than $110 million out of the total liquidated positions. Notably, the largest order was a BTCUSD perpetual position worth $2 million. This liquidation took place on Bybit. Other exchanges with high liquidations figures include OKEx, Binance, ByBit, FTX, CoinEX, Huobi, Bitmex, etc. OKEX recorded up to 75% short positions liquidations amounting to $4.28 million, while Binance followed closely with $3.36 million in total liquida...