Ethereum Hits Largest Single-Day Short Liquidations in 3  Years

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$666 Million in Ethereum short positions have been liquidated as traders betting against ETH rise are suffering losses as the cryptocurrency roughly surged by 6%.

Traders that took these short positions were betting against Ethereum's growth, and their leveraged trades were liquidated almost instantaneously, leading to substantial losses. This is the highest level in three years.

In just a few hours, the price of Ethereum has surged from $1,804 to $1,910. According to data, the number of wallets holding more than 32 ETH has risen to a 13-month high, reaching 111,353