Massive Losses for Ethereum Short Sellers as Ethereum Surges on Expectations of Ethereum Futures ETF Launch

[뉴욕 = 장도선 특파원] CoinDesk reported on the 29th (local time) that it was revealed that investors who had bet on the decline of Ethereum suffered massive losses as the price of Ethereum surged due to expectations surrounding the launch of the Ethereum futures ETF.

According to Coinglass data, as Ethereum soared the previous day, about $11 million in Ethereum futures short positions were liquidated. This accounts for nearly 85% of all cryptocurrency positions liquidated the previous day.

Ethereum rose 3.23% from 24 hours ago to $1,674 on CoinMarketCap at 8:58 a.m. on the 29th, New York time.

Before Ethereum began its rally mid-week, many analysts were negative about Ethereum’s short-term outlook and expected further declines. The main background for the negative evaluation was that Ethereum’s network sales were decreasing and token burns were decreasing due to sluggish network activity, leading to a net increase in the overall supply of Ethereum.

However, some have raised the opinion that the good news of the launch of the Ethereum futures ETF is being underestimated. In fact, Ethereum is receiving upward momentum as a Bloomberg analyst reported that trading in the Ethereum futures ETF will begin as early as next week.

Valkyrie’s Bitcoin and Ethereum futures hybrid ETF has received approval for trading, and Van Eck announced that it is preparing to launch an Ethereum futures ETF.

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