A wave of liquidations has engulfed the Ethereum network, resulting in a staggering US$126 million wiped out in the past 24 hours alone. The majority of these liquidations, a substantial US$100 million, have been attributed to short positions, while long positions have accounted for US$26.034 million.
This dramatic downturn in the market has sent shockwaves through the cryptocurrency community. The reasons behind this sudden surge in liquidations remain a subject of speculation and analysis. However, it is evident that the market is in a state of flux, and investors must exercise caution and remain vigilant.
