Advertising revenue keep this site going. We do not actively endorse ads served to us.
Please use your due diligence while on this site.
We also do not get information from our visitors.
cryptocurrency April 6, 2020

Ethereum kickstarted 6 April with a strong green candle; by the eleventh hour, ETH had managed to acquire 8.38% of its value and marked a daily peak at $155.78. The second-largest cryptocurrency was able to hold this price and was being traded at $155.79, at press time.

Source: ETH/USD on Trading View

Source: ETH/USD on Trading View

As the price started to appreciate, heavy liquidations were noted in the Ethereum Futures market. According to data provider, Skew, BitMEX ETHUSD liquidations amounted to $1.2 million within the last 24-hours. The highest liquidation was worth $685k on 6 April at 0900 UTC, with the buyers shorting the price of the digital asset. The highest hourly liquidation through a single transaction was worth $208k.

Source: Skew

Out of the total liquidations that took place on BitMEX, the majority were Buy Liquidations. Despite a rising price, the daily volume of Etheruem futures still appeared to be restricted.

Source: Skew

Source: Skew

On 12 March, the volume had topped at approximately $8 billion, as the price of ETH collapsed. However, as days progressed, the volume shrunk and on 6 April, the volume was close to $854 million. A similar trend was also noted in the Bitcoin futures market, where the volume had been hovering around $8 billion. Since 12 March, the aggregated daily volume was close to $50 billion.

Even though ETH futures market failed to note a drastic rise in the Open Interest [OI] on other derivatives exchanges, ETH futures on BitMEX was showing an upwards spike.

Source: Skew

The ETHUSD OI had fallen on BitMEX on 12 March from $76 million to $17 million and moving sideways. However, on 6 April, the market rally hinted at the possible interest from traders on BitMEX to report a spike from $44 million to $65 million within hours.

English简体中文日本語한국어DeutschEspañolPortuguêsFrançaisРусскийไทยNederlands