Ethereum (ETH) Shorts Liquidations Witness All-Time High as Ether Price Surpasses $3,500

Today, on May 4th, 2021, Ethereum (ETH) routinely printed another all-time high. While the Ether price smashes the $3,500 level, shorts liquidations set a new record.

Disaster for Ethereum (ETH) bears

According to analytical dashboard Cryptoquant, Ethereum (ETH) shorts liquidations printed a new all-time high. A total of $50 million in Ether short positions were erased in no time.

Thus, according to the Documenting Ethereum account, Ethereum (ETH) liquidations across all exchanges witnessed a fresh record.

The previous record was registered in January while the Ethereum (ETH) price surpassed $2,000 for the first time in its six-year history.

During the last 24 hours, the net USD equivalent of liquidations for top derivatives contracts exceeded the eye-watering level of $1,900,000,000, as seen by ByBit liquidations dashboard.

Ethereum (ETH) flips Bitcoin (BTC) in trading volume

This dashboard also indicated a monstrous $74.49 million Ethereum (ETH) liquidation on Huobi, a top-notch Asian exchange.

Also, on the majority of exchanges, Ethereum (ETH) trading volume has surpassed that of the flagship cryptocurrency. This fact was registered by Cryptowatch cross-platform dashboard.

As covered by U.Today previously, the Ethereum (ETH) network sets a number of records that follow its expanding rally over $3,500.

Namely, on May 3, 2020, one Ethereum-based Defi, Uniswap, collected more fees than the entire Bitcoin (BTC) network.


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