Latest news with #CoinGlass
Yahoo
13 hours ago
- Business
- Yahoo
Ether, XRP Traders Book Bigger Losses Than Bitcoin as Crypto Bulls See $630M in Liquidations
A sharp pullback across crypto markets on Tuesday triggered nearly $735 million in liquidations with bulls bearing the brunt. Ether (ETH) and XRP (XRP) tracked futures bets booked larger losses than bitcoin in an unusual move, indicative of the higher interest toward altcoin traders in the past week. CoinGlass data shows ETH traders lost $152.78 million, the largest for any asset, followed by $88.58 million in liquidations for XRP. Bitcoin (BTC) came in third at $65.29 million, despite its larger market cap and deeper liquidity. While price action across the majors was mostly down by only a few percentage points, the high leverage used by retail traders in altcoins likely amplified their losses. In total, $625.5 million of the liquidations were on long positions, suggesting the selloff caught many bulls off guard after weeks of upward momentum. Other heavily hit tokens included Solana's SOL at $41 million, dogecoin (DOGE) at $40 million, and smaller DeFi tokens like SPK and PUMP seeing over $10 million in positions wiped. The absence of a clear catalyst and profit-taking near key resistance levels may have exacerbated the selloff. Ether had recently flirted with the $4,000 mark while Bitcoin traded above $118,000 — levels that had already prompted profit booking from larger wallets. As of writing, ETH is down roughly 3.6% on the day to trade near $3,540, while XRP fell 6% to $3.25, extending its weekly loss to over 12%. Bitcoin fared better, slipping just under 2% to hover around $116,800. Crypto liquidations occur when leveraged positions are forcibly closed due to a price move beyond a trader's margin threshold. This typically results in major losses and can trigger cascade effects during volatile moves. Traders use liquidation data to gauge market sentiment and positioning. Large long liquidations often signal panic bottoms, while short liquidations may precede a squeeze. Spikes in liquidations also help identify overcrowded trades and potential reversals. When paired with open interest and funding rate data, liquidation metrics can offer strategic entry or exit points, especially in overleveraged markets prone to sudden flushes or rallies. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 hours ago
- Business
- Yahoo
Ether, XRP Traders Book Bigger Losses Than Bitcoin as Crypto Bulls See $630M in Liquidations
A sharp pullback across crypto markets on Tuesday triggered nearly $735 million in liquidations with bulls bearing the brunt. Ether (ETH) and XRP (XRP) tracked futures bets booked larger losses than bitcoin in an unusual move, indicative of the higher interest toward altcoin traders in the past week. CoinGlass data shows ETH traders lost $152.78 million, the largest for any asset, followed by $88.58 million in liquidations for XRP. Bitcoin (BTC) came in third at $65.29 million, despite its larger market cap and deeper liquidity. While price action across the majors was mostly down by only a few percentage points, the high leverage used by retail traders in altcoins likely amplified their losses. In total, $625.5 million of the liquidations were on long positions, suggesting the selloff caught many bulls off guard after weeks of upward momentum. Other heavily hit tokens included Solana's SOL at $41 million, dogecoin (DOGE) at $40 million, and smaller DeFi tokens like SPK and PUMP seeing over $10 million in positions wiped. The absence of a clear catalyst and profit-taking near key resistance levels may have exacerbated the selloff. Ether had recently flirted with the $4,000 mark while Bitcoin traded above $118,000 — levels that had already prompted profit booking from larger wallets. As of writing, ETH is down roughly 3.6% on the day to trade near $3,540, while XRP fell 6% to $3.25, extending its weekly loss to over 12%. Bitcoin fared better, slipping just under 2% to hover around $116,800. Crypto liquidations occur when leveraged positions are forcibly closed due to a price move beyond a trader's margin threshold. This typically results in major losses and can trigger cascade effects during volatile moves. Traders use liquidation data to gauge market sentiment and positioning. Large long liquidations often signal panic bottoms, while short liquidations may precede a squeeze. Spikes in liquidations also help identify overcrowded trades and potential reversals. When paired with open interest and funding rate data, liquidation metrics can offer strategic entry or exit points, especially in overleveraged markets prone to sudden flushes or rallies. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
2 days ago
- Business
- Yahoo
PEPE Dips Slightly as Market Cools, but Outperforms Broader Memecoin Sector
PEPE fell around 2% in the last 24-hour period as part of a broader 5% sell-off that started amid a crypto market slowdown and a wave of high-volume selling. The price slid from $0.000014268 to $0.000013568 during the session, with 349 billion tokens offloaded during the move, according to CoinDesk Research's technical analysis data model. The meme-inspired cryptocurrency briefly rallied to a session high of $0.000014713, supported by 11.7 trillion tokens traded in a single surge. But the attempt fizzled, encountering stiff resistance and triggering a swift reversal. The sharp move led to more than $4 million in liquidations, per CoinGlass data. That session high now stands as a firm technical ceiling, reinforcing trader doubts about near-term upside. Relative post volume on social media is up more than 23% compared to its 24-hour average, according to data from TheTie, suggesting growing interest. Support came in near $0.000013618, where buyers showed interest during earlier dips. While the token briefly moved below that level, it has since recovered to surpass it. Meanwhile, Nansen data shows that even as the top 100 addresses holding PEPE on Ethereum have increased their holdings by 0.11%, exchange wallets added 0.24% in the last 24 hours, showing a growing supply on the market. Despite the drop, PEPE is slightly outperforming the wider memecoin space. The CoinDesk Memecoin Index (CDMEME) saw a 2.4% drop in the last 24 hours, compared to PEPE's near 2% drop. Over the past month, PEPE is up nearly 55% compared to CDMEME's 41.7% rise. The frog-themed token has been outperforming after forming a golden cross pattern earlier this month. Crypto analyst Lark Davis on social media flagged a potential breakout target at $0.0000155. Technical Analysis Overview Trading volume spiked to 11.72 trillion tokens during a breakout attempt, signaling widespread market participation. Strong rejection at $0.000014713 now serves as a critical ceiling for further upside. Consistent buyer activity formed a key support near $0.000013618 A sharp deterioration began with 230.19 billion tokens sold in a concentrated period. Massive offloading occurred in successive waves of 237.67 billion, 329.19 billion, and finally 349.11 billion tokens. Activity dwindled to near-zero then, signaling trader fatigue and lack of conviction for recovery. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
ETH's ‘Most Hated' Rally Could Trigger $331M in Liquidations Near $4K, Says Analyst
Ether's summer surge has ignited fierce debate among market analysts, with many pointing to mounting short positions and shifting capital flows as key drivers behind the rally. The world's second-largest cryptocurrency is now trading near $3,755, up nearly 5.7% in the past 24 hours and more than 25% over the past week, according to CoinDesk Data. ETH holders have welcomed the rally, and some analysts believe it could accelerate further if a short squeeze forces bearish traders to close their positions. '$ETH is the most hated rally right now,' posted Crypto Banter on X, referring to the unusually high level of bearish positioning in the market. According to the CoinGlass data cited by the analyst, approximately $331 million worth of short positions could be liquidated if ether hits the psychologically significant $4,000 level. That liquidation cascade would likely accelerate price momentum in a classic feedback loop. Others see ether's outperformance as a clear sign of shifting market dynamics. Pentoshi, a well-followed trader on X, pointed to the steepest weekly drop in BTC dominance in four years as evidence of capital rotating into ETH. 'Enjoy the next few weeks,' the pseudonymous analyst wrote, adding that ether's current trajectory resembles a 'melt up' — a term used to describe rapid price increases driven more by fear of missing out (FOMO) than fundamentals. Pentoshi also noted a new structural tailwind: the emergence of ETH treasury strategy companies, which are aggressively accumulating ether on their balance sheets. 'Now we have ETH treasury companies that are only a month old and into buying, competing to get 1% of the supply each,' he said. While not naming names, this likely refers to publicly traded firms like Bitmine Immersion Technologies and SharpLink Gaming, whose large-scale ETH acquisitions have drawn increasing attention. Adding to the chorus, crypto analyst Benjamin Cowen highlighted that altcoins continue to underperform relative to ether. 'Alt/BTC pairs go up but they are lagging ETH/BTC,' he posted, suggesting that ether is capturing a disproportionate share of market flows. Cowen argued that ETH now carries lower relative risk than other altcoins and is behaving similarly to how Bitcoin did during previous cycles.
Yahoo
4 days ago
- Business
- Yahoo
Ethena's ENA Soars 20% as Protocol Sees $750M Inflow Amid Rising Crypto Funding Rates
Ethena's token ENA (ENA) surged on Sunday to its highest price in four months, as the decentralized finance (DeFi) protocol behind the token saw a fresh wave of inflows amid a broader crypto rally. The token, which serves as the governance token for Ethena, advanced roughly 20% during the day to over $0.50, topping that level for the first time since early February, according to CoinDesk data. Ethena is benefiting from the recent surge in crypto prices, generating higher yields for investors. The protocol issues the dollar-pegged USDe, marketed as a "synthetic dollar" with its price anchored at $1. It uses bitcoin (BTC), ether (ETH) and Solana's SOL (SOL)as backing assets, pairing them with an equal value of short perpetual futures positions on exchanges. The strategy generates revenue on its backing derivative assets when the perpetual funding rates are positive and passes on some of the income as yield to investors. Funding rates rose over the past few days after a long spell of near-neutral levels, CoinGlass data shows. The protocol's strategy now pays out almost 10% annualize yield to investors, more than double what money market funds pay out as a risk-free rate. Amid higher yields, the protocol's USDe attracted over $750 million in fresh inflows through the last few days, per DefiLlama data. At $6.09 billion supply, USDe is just shy below its February record supply of $6.1 billion, the project's dashboard shows.
