Amidst rising tensions from the middle east, Ethereum investors recorded $98 million in liquidations.
Ethereum Funding rate remains positive, signaling a higher demand for long positions.
K33 Analyst David Zimmerman, highlights possibilities for ETH.
The cryptocurrency market has felt the impact of rising tensions in the Middle East. Market volatility spiked, triggering over $500 million in crypto liquidations.
Altcoin traders, including Ethereum traders, were hit hard, as the market saw significant liquidations on Monday. According to data from crypto data analysis platform Coinglass, ETH long traders saw a substantive $96 million in liquidations on Monday; this marked the highest single-day liquidations in over 57 days.
Cryptocurrency investors buy long positions expecting the crypto asset to rise in value. To capitalize on this upward movement, traders profit by selling that cryptocurrency at a higher price.
Despite the massive losses for Ethereum traders, a notable network signal suggests a continued bullish uptrend for Ethereum ETFs.
Read also: ETH Dump: Users Panic As Whale Sends 90K ETH to Binance in 24 Hours
The post Ethereum Liquidations Surge to $96M as Geopolitical Tensions Rattle Crypto Markets appeared first on Coin Edition.
