The ETH contract liquidation storm is changing, and dark currents are surging in the crypto world.
This ETH contract liquidation chart directly exposes the brutal truth of the crypto market — the dual liquidation of longs and shorts has become the norm! At the beginning of May and the end of July, the peak of liquidations saw a single-day liquidation amount soar to $326.9 million, equivalent to evaporating 20 'small targets' overnight. Even more ruthless, the ETH price plummeted by 20% at the end of July, directly collapsing leveraged players, with the short liquidation volume doubling in an instant, leaving the retail investors with no time to even cry.
Behind the surge in liquidation volume is the strategy of the market makers! For example, the crash in July was clearly the result of whales dumping + contract liquidation. Coinglass data shows that at that time, the open interest in ETH reached a new high for the year, indicating that a large number of retail investors were leveraging at high positions, only to be precisely targeted.
A certain influencer live-streamed and shouted, 'ETH breaks 5000', and fans fully loaded on contracts, only to see the price spike to 2500, turning the live stream into a rights protection group in seconds.
Explosive insider information: Exchanges are the biggest winners! The more intense the liquidation, the more they earn in fees. Data leaked from a certain platform shows that in July alone, contract revenue exceeded $500 million, three times more than spot trading. No wonder there are always 'mysterious large orders' laid out in advance before major fluctuations — you get liquidated, they count money; this is the perpetual motion machine of the crypto world.
When will the next peak of liquidations occur? Before the ETH 2.0 upgrade, will the whales wash the contract market again?
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