It’s been a wild ride on Ethereum markets over the past 24 hours as the cryptocurrency went through considerable volatility.
This caused a wave of liquidations across leveraged ETH positions, amounting to over $100 million in the past day.
Data from Coinglass reveals that the past 24 hours saw almost $200 million in total liquidations.
Over $110 million came from leveraged ETH positions, although the largest single liquidation order that took place on Bybit was a BTCUSD perpetual with a face value of $2 million.
All in all, over the same period, about 75% of the total liquidations were of short positions, where most of them took place on OKEx, closely followed by Binance.
ETH’s price underwent serious volatility over the past couple of days, having dropped towards $1.5K.
The bulls were relatively quick to recoup the losses, though, and pushed the price back above $1,600, charting a 7% daily increase in the process.
It’s worth noting that volatility is likely to pick up, especially as we approach the date of the Merge, scheduled for next week.
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