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Headline : Over 73k traders lose all amid uninspiring Ethereum Spot ETFs

Read more from the original article on here at nairametrics.com.






Tags : #over #73k #traders #lose #amid #uninspiring #ethereum #spot #etfs


No. of Paragraph 30

The lacklustre performance of the recently released ETH spot ETFs ignited a crypto bloodbath in the early hours of Thursday. The super altcoin fell to a multi-day low of $3.1K from approximately $3.5K earlier this week.

US exchange-traded funds that had invested in spot Ether saw a net outflow of $113.3 million on their second day of trading, primarily due to significant losses from Grayscale’s Ethereum Trust.

The initial rumours that the approvals might be a “sell-the-news” moment proved to be accurate, as the underlying asset’s price responded with a significant drop, falling by double digits in a single day.

A total of 73,704 traders were liquidated for the day, resulting in a total liquidation value of $292.25 million. On Binance, the largest liquidation order ever occurred, with a BTCUSDT value of $11.78 million.

Read more from the original article on here at nairametrics.com.


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