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Ether surged 20%, leading a broad crypto rally and triggering over $750 million in short liquidations, the highest since 2023.
Major altcoins like DOGE and Cardano's ADA rose more than 10%, while Solana's SOL, BNB, and XRP increased by at least 7%.
The rally was fueled by bullish sentiment and a trade deal between the U.S. and the UK, with Binance and OKX accounting for over $500 million in liquidations.
A broad crypto rally led by ether’s (ETH) 20% surge triggered more than $750 million in short liquidations in the past 24 hours, the highest single-day total since 2023 for bearish trades.
Data from CoinGlass shows that over 84% of the total liquidations came from shorts, with major altcoins jumping 10%–20% in the span of a few hours starting late Thursday.
