Ethereum increased by 16 percent while the volatility in the cryptocurrency markets continued; The rising Ethereum has upset the investors who opened long transactions. So much so that the US Federal Reserve (Fed) increased interest rates by 75 basis points, as expected, and the crypto markets have been on the rise in the last 24 hours. Bitcoin rose 10 percent at one point after the Fed announcement, while Ethereum rose as much as 16 percent. At this point, the purges began to show themselves.
Ethereum (ETH) Rises, Long transactions Liquidated
According to CoinGecko data, as of July 28, the total cryptocurrency market cap has increased by 7 percent to over $1,052 trillion. The biggest impact on this rise was undoubtedly made by Bitcoin (BTC) and Ethereum (ETH). So much so that while Bitcoin (BTC) increased by 8 percent in 24 hours, Ethereum (ETH) increased by 11 percent. At this point, the amount of liquidation that took place in 24 hours exceeded 388 million dollars as of the writing of our news.
The biggest liquidations were in Ethereum with $170 million. While over 92,000 investors were liquidated in total, 51 percent of the liquidations were carried out at Okex.
64.96 percent of the liquidations realized were in the long position.
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