Over $11M In Ethereum Shorts Liquidated As Valkyrie ETH ETF Futures Gain Approval
Portfolio Pulse from Mehab Qureshi
Valkyrie Investments has secured approval from the SEC for the first-ever ETF featuring Ethereum futures. This news led to a surge in Ethereum prices, resulting in the liquidation of over $11 million worth of Ethereum short positions within the past 24 hours. The total value of liquidations during this period amounted to $13.78 million, with Ethereum shorts comprising the majority.
September 29, 2023 | 3:16 am
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The approval of Valkyrie Investments' Ethereum futures ETF led to a surge in Ethereum prices, causing a significant liquidation of Ethereum short positions.
The news of the approval of Valkyrie Investments' Ethereum futures ETF has led to increased demand for Ethereum, causing its price to surge. This price increase has forced traders who had bet on a price decrease (short positions) to close their positions, resulting in a significant liquidation of Ethereum shorts. This indicates a positive short-term impact on Ethereum's price.
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