Happycoin.club - Over the past 24 hours, traders have increased their short positions in ether amid information that Grayscale Investments has abandoned plans to launch an Ethereum futures ETF.
The rate of the second largest cryptocurrency by capitalization over the past 24 hours dropped by 1.96% to $3,006.
The liquidation maps show that traders are more confident that the price of Ether will decline in the near term - $345 million worth of short positions will be liquidated if the price rises by 3%. On the other hand, a 3% drop in ETH to $2,920 or below would only result in a loss of $237 million in long positions.
Ether trading activity became especially noticeable after Grayscale's decision to withdraw its application for ETH-ETF futures just three weeks before the US Securities and Exchange Commission (SEC) decision.
Let us recall that the federal regulator several times postponed the deadline for consideration of the application that Grayscale Investments submitted on September 19, 2023. The review date was originally scheduled for November 15, but was later changed to December 18, March 22 and finally May 30.
As the final deadline approaches, experts have increasingly expressed doubt that an ether-based futures fund will receive Commission approval.
