$ETH

A cryptocurrency trader suffered significant losses after their short position against Ethereum (ETH) was automatically liquidated by the system on the Binance platform. The loss was recorded at US$8.05 million or around Rp133 billion (at an exchange rate of Rp16,500 per dollar), becoming one of the largest liquidations in the last 24 hours, Wednesday (5/7).

The increase in Ethereum prices by 1.6% to reach US$1,827 was the main trigger for this liquidation. Not just one trader, a total of 134,577 other traders were also affected by the liquidation with a total value reaching US$310 million (approximately Rp5.1 trillion).🙆🏻🙆🏻