One trader just lost $220 million as ETH plunged 10%
One trader lost more than $220 million on an ether position as a fresh wave of forced liquidations swept through crypto markets, pushing total losses over the past 24 hours to nearly $2.6 billion.
The largest single liquidation occurred on decentralized derivatives exchange Hyperliquid, where an ETH-USD position worth $222.65 million was wiped out, according to CoinGlass data.
The event came as ether slid as much as 17% in the past 24 hours, sharply alongside bitcoin and other major tokens during a period of thin liquidity.
In total, 434,945 traders were liquidated over the past day, with long positions accounting for the vast majority of losses. Roughly $2.42 billion of the $2.58 billion total came from bullish bets, while shorts made up…
