Ethereum Sees $20M Liquidated In 4 Hours

Ethereum (CRYPTO: ETH) traders saw high-value liquidations over a short time frame on Monday.

What Happened: According to data from CoinGlass, there was $20.23 worth of ETH liquidations over a four-hour trading window as the asset’s price fell 7% to $1,573.

More than $17.7 million longs were liquidated, while only $2.28 million shorts were liquidated over the four hours. 

Bitcoin (CRYPTO: BTC) saw $5 million worth of liquidations over the same period and Ethereum Classic (CRYPTO: ETC) saw $3 million liquidated.

Over the last 24 hours, more than 84,000 crypto traders were liquidated for a cumulative total of $196 million.

The single largest liquidation order took place on the crypto exchange ByBit on a BTC/USDT trading pair valued at $1.17 million.

Price Action: At press time, ETH was trading at $1,584, down 6.13% over the last 24 hours, as per data from Benzinga Pro. BTC was trading at$22,869, down 2% and ETC was trading at $33.45, down 9.3% over the same period.