Traders lost $1.2 Billion Amid the Growth of ETH above $1100

Kataryna Habeliia January 4, 2021

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Traders lost $ 1.2 billion in a day amid the growth of Ethereum above $ 1.1 thousand.

The altcoin price climbed to $ 1135, but then rapidly fell below $ 1000. Due to such fluctuations, exchanges liquidated the positions of more than $ 120 thousand of users trading with borrowed funds. The loss of one of them exceeded $ 12 million.

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Over the past 24 hours, leveraged ether traders have lost $ 1.2 billion. This happened due to sharp market fluctuations. Today, January 4, the price of Ethereum rose 60% to $ 1135, but then plummeted below $ 1000. At the same time, the bitcoin rate reached $ 33.5 thousand, then decreased to $ 31.5 thousand.

Amid market fluctuations, exchanges liquidated the positions of 126,000 traders, according to bybt.com. One of the users lost over $ 12 million on a failed trade.

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The largest volume of liquidations occurred on the Binance exchange. During the day, its users trading with borrowed funds lost more than $ 450 million. The second and third places in this indicator were taken by the Huobi and Bybit trading platforms, the losses of their users amounted to $ 275 million and $ 240 million, respectively.

One of the largest liquidations happened in March. Then the bitcoin rate fell from $ 8 thousand to $ 3.8 thousand during the day. Against this background, 235,000 leveraged users lost a total of $ 5.8 billion.

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