{"id":398992,"date":"2024-06-13T05:30:58","date_gmt":"2024-06-13T00:00:58","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=398992"},"modified":"2024-06-12T13:51:19","modified_gmt":"2024-06-12T08:21:19","slug":"why-ethereum-saw-long-liquidations-worth-62m-in-24-hours","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-ethereum-saw-long-liquidations-worth-62m-in-24-hours\/","title":{"rendered":"Why Ethereum saw long liquidations worth $62M in 24 hours"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">ETH\u2019s long traders have witnessed significant liquidations in the past 24 hours.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">The coin\u2019s options volume and Open Interest have also declined.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\">Ethereum [ETH]<\/a> witnessed a spike in long liquidations on the 11th of June, according to <a href=\"https:\/\/www.coinglass.com\/currencies\/ETH\" target=\"_blank\" rel=\"noopener\">Coinglass<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Information from the derivatives market data provider showed that the altcoin\u2019s long liquidations on that day represented its highest since the 23rd of May.\u00a0<\/span><\/p>\n<figure id=\"attachment_399002\" aria-describedby=\"caption-attachment-399002\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45.png\"><img decoding=\"async\" class=\"size-full wp-image-399002\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45.png\" alt=\"ETH Total Liquidations Chart\" width=\"2560\" height=\"702\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45-300x82.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45-1024x281.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45-768x210.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45-1536x421.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45-2048x561.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.43.45-1200x329.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-399002\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In an asset\u2019s derivatives market, liquidations happen when a trader\u2019s position is forcefully closed due to insufficient funds to maintain it. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Long liquidations happen when an asset\u2019s value drops unexpectedly, forcing traders with open positions in favor of a price rally to exit.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the 11th of June, ETH long liquidations totaled $62 million, while short liquidations amounted to $7.3 million.\u00a0<\/span><\/p>\n<h2><b>Decline in ETH\u2019s derivatives market<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The past 24 hours have been marked by a decline in ETH\u2019s derivatives market activity. For example, the total volume of trades executed in the altcoin&#8217;s options market has dropped by 52%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">During that period, options trading volume totaled $321 million.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A decline in an options trading volume suggests fewer participants are buying or selling options.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whenever fewer trades are completed in an asset\u2019s options market, it becomes less liquid. This often results in wider bid-ask spreads, making it potentially more difficult for participants to execute trades at desired prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, the coin\u2019s Open Interest has also dropped. At $15.73 billion at press time, it has fallen by 2% during the period under review.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An asset\u2019s Open Interest measures the total number of outstanding contracts or positions that have not been closed or settled. When it declines, more traders exit their positions without opening new ones.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, despite ETH\u2019s price decline in the past 24 hours, the ensuing long liquidations, and a drop in options volume and Open Interest, its Funding Rate across cryptocurrency exchanges has remained positive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, the coin\u2019s Funding Rate was 0.0069%. For context, the last time ETH\u2019s Funding Rate was negative was on the 3rd of May.<\/span><\/p>\n<figure id=\"attachment_399003\" aria-describedby=\"caption-attachment-399003\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32.png\"><img decoding=\"async\" class=\"size-full wp-image-399003\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32.png\" alt=\"ETH Funding Rate\" width=\"2560\" height=\"702\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32-300x82.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32-1024x281.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32-768x210.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32-1536x421.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32-2048x561.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-12-at-08.45.32-1200x329.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-399003\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Funding Rates are used in perpetual futures contracts to ensure the contract price stays close to the spot price.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ethereum\u2019s [ETH] Price Prediction<\/a>\u00a02024-25<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">When an asset\u2019s Funding Rate is positive, it suggests a strong demand for long positions. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This means more traders are buying the coin expecting to sell it at a higher price than those purchasing it in anticipation of a price decline.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the drop in ETH\u2019s price, options volume, and Open Interest, its Funding Rate has remained positive.\u00a0<\/p>\n","protected":false},"author":64,"featured_media":399004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[6427],"class_list":["post-398992","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Ethereum saw long liquidations worth $62M in 24 hours - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Ethereum [ETH] witnessed a spike in long liquidations on 11 June, according to Coinglass. 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