{"id":16377,"date":"2023-01-12T12:44:41","date_gmt":"2023-01-12T12:44:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/crypto-short-traders-lose-200m-to-liquidations-as-ether-hits-a-two-month-high\/"},"modified":"2023-01-12T12:44:41","modified_gmt":"2023-01-12T12:44:41","slug":"crypto-short-traders-lose-200m-to-liquidations-as-ether-hits-a-two-month-high","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/crypto-short-traders-lose-200m-to-liquidations-as-ether-hits-a-two-month-high\/","title":{"rendered":"Crypto short traders lose $200M to liquidations as Ether hits a two-month high"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1673521074237-8fbf5889-64e1-484a-ad0c-ddb4d679d146-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1673521074237-8fbf5889-64e1-484a-ad0c-ddb4d679d146-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1673521074237-8fbf5889-64e1-484a-ad0c-ddb4d679d146-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1673521074237-8fbf5889-64e1-484a-ad0c-ddb4d679d146-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li>The cryptocurrency market capitalization has risen by about 3.18% in the past 24 hours.<\/li>\n<li>Ether has hit a two-month high trading at about $1400.<\/li>\n<li>The crypto market in general has risen against the cautious tone in the US stock market.<\/li>\n<\/ul>\n<p>Crypto traders who had bet on a market decline have been caught off-guard by the broad recovery in the crypto market. As a result, about $200 million worth of short trades against price rises has been liquidated in the past 24 hours.<\/p>\n<p>Another more than $150 million worth of short trades were also liquidated earlier this week as <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum <\/a>(ETH) and bitcoin (BTC) broke past key resistance levels according to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">data from CoinGlass<\/a>. Other major altcoins like XRP and Solana also registered gains of about 20%.<\/p>\n<p>Ether-tracked futures also saw liquidations worth about $110 million in both long and short positions. <a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin <\/a>saw liquidations worth about $77 million, while AVAX and GALA saw $4.5 million in liquidations.<\/p>\n<h2>Ethereum\u2019s strong performance<\/h2>\n<p>Despite the cautious tone around the US stock futures, Ethereum (ETH) has rallied to a two-month high, confirming that the crypto is well prepared for a recovery in 2023 if the bullish trend is sustained.<\/p>\n<p>Ethereum\u2019s bullish trend is further projected to gain momentum ahead of the scheduled March Shanghai upgrade, which is designed to de-risk staking by allowing people to withdraw ETH staked into the <a href=\"https:\/\/coinjournal.net\/glossary\/beacon-chain\/\">Beacon Chain<\/a>. There was some Ether that ware locked\/staked into the Beacon Chain in December 2020.<\/p>\n<p>The Shanghai upgrade is expected to boost staking demand causing a decrease in the circulation supply of ether, which the law of demand and supply dictates would result in a rise in ETH prices.<\/p>\n<p>According to Thielen, the upgrade:<\/p>\n<p><em>\u201cWill motivate many ETH holders to stake their ETH as only 14% of the ETH is being staked now, compared to 58% for other Layer 1 protocols. Hence, another $20 billion of ETH can be easily staked. More ETH staked means less ETH available to sell when negative news hits the market. Hence, this is bullish.\u201d<\/em><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/crypto-short-traders-lose-200m-to-liquidations-as-ether-hits-a-two-month-high\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) The cryptocurrency market capitalization has risen by about 3.18% in the past 24 hours. Ether has hit a two-month high trading at about $1400. The crypto market in general has risen against the cautious tone in the US stock market. Crypto traders who [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":16378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16377"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=16377"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16378"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}