Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ETHEREUM NEWS»The sale of the Ethereum ETF resulted in a cryptocurrency long flush worth $300 million.
ETHEREUM NEWS

The sale of the Ethereum ETF resulted in a cryptocurrency long flush worth $300 million.

By Crypto FlexsMay 24, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The sale of the Ethereum ETF resulted in a cryptocurrency long flush worth 0 million.
Share
Facebook Twitter LinkedIn Pinterest Email

Data shows that exchanges have seen a lot of long-term liquidations pile up following the approval of the Ethereum ETF, which was a news selling event.

Ethereum price falls after spot ETF approval

Yesterday, the U.S. Securities and Exchange Commission (SEC) finally gave approval to all eight Ethereum spot exchange-traded funds (ETFs) that were awaiting approval.

A spot ETF is essentially an investment vehicle that provides a way to gain indirect exposure to the price fluctuations of ETH without actually owning the tokens.

ETFs are available through vehicles that traditional investors will be familiar with, so those who don’t want to bother with cryptocurrency exchanges and wallets can decide to invest in the asset through them.

The market was anticipating this event as well as the approval of the Bitcoin spot ETF last January. In the case of BTC, inflows through ETFs eventually triggered a rally towards a new all-time high (ATH).

However, when the Bitcoin ETF was approved, investors initially reacted by selling, resulting in a significant decline for the cryptocurrency.

The Ethereum spot ETF approval also appears to have seen some selling so far, as coins in the sector have been in the red over the past 24 hours. Ethereum itself fell more than 5%.

The price of the asset appears to have shot up over the last few days | Source: ETHUSD on TradingView

Despite the downturn, Ethereum investors will still be holding on to notable gains. This is because the coin, at its current price of $3,700, has risen more than 23% in the past week as well.

The approvals and subsequent selling appear to have caught the market off guard, as the derivatives side registered some large liquidations in the last 24 hours.

$384 million worth of cryptocurrency contracts liquidated in the past day

According to data from CoinGlass, the cryptocurrency derivatives market has observed massive flushes over the past day. The table below shows what the numbers look like.

Ethereum and cryptocurrency liquidation

The data for the cryptocurrency-related liquidations over the last 24 hours | Source: CoinGlass

As seen, over $384 million worth of cryptocurrency contracts were forced to terminate during this period. More than $297 million of these liquidations involved long-term holders.

This means that investors betting on an optimistic outcome accounted for 77% of the flushes. This is a natural coincidence, as overall price volatility over the past day has been trending downward.

As can be seen in the heatmap below, it is not surprising that Ethereum, which has been the focus of attention recently, has accounted for the lion’s share of this liquidation pressure.

Ethereum and other cryptocurrencies

Looks like ETH liquidations have been more than double that of BTC's | Source: CoinGlass

With over $150 million in liquidations, Ethereum significantly outperformed Bitcoin, resulting in $74 million worth of contracts being liquidated.

Kanchanara from Unsplash.com, featured image from CoinGlass.com, chart from TradingView.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

Bitcoin is more than $ 104K as the merchant’s eyes move from H2 to $ 145,000.

June 20, 2025

Can Etherrium price return to $ 4,000? Analysts say that ETH should go beyond this support.

June 16, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

The Real Story of the SEC’s Lawsuit Against Kraken and Why Kraken Wants to Dismiss the Lawsuit

February 23, 2024

BONK hit the brakes during the rally. What’s next?

January 14, 2024

Bitcoin hit a new all-time high the following week, but Ethereum held it back.

June 7, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.