Crypto Liquidations Near $1 Billion as Ether's Tally Tops Bitcoin's

Crypto positions worth $942.1 million were forcibly closed over the 24 hours through late Wednesday, as Ether (ETH) liquidations exceeded Bitcoin (BTC) during a broad market selloff. At 11:31 p.m. ET Wednesday, Oct. 14 (03:31 UTC Thursday, Oct. 15), the rolling 24-hour total stood at $942.1 million. Ether positions accounted for $283.1 million, including more than $261 million in long positions, while Bitcoin liquidations totaled $196 million. Long positions, which gain when prices rise, represented $863.3 million, or 91.6%, of all liquidations. Over the same 24 hours, Ether fell 5.31% to $2,373.87, while Bitcoin declined 2.54% to $81,328. Leverage lets traders control positions larger than their collateral. Exchanges automatically close positions when collateral falls too low; this forced close is known as a liquidation.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.