Ether Long Liquidations Reach $10.02 Million in One Hour

Ether (ETH) liquidations reached $10.02 million in the hour ending at 1:46 p.m. ET (17:46 UTC) on Oct. 7, with long positions accounting for nearly all of the forced closures as the token declined.

Long liquidations totaled $10 million, while short liquidations came to $10,000. Ether fell from $2,568 to $2,549 during the same hour, a 0.76% drop.

The figures reflect public liquidation data collected and aggregated from Binance, Bybit and OKX. They cover those three exchanges only and do not represent liquidations across the entire market.

Liquidations occur when exchanges forcibly close leveraged positions after traders’ collateral no longer meets required levels.