Major cryptocurrencies rose on Monday evening as cryptocurrency shorts suffered liquidation in the past 24 hours.
What Happened: According to CoinGlass data, over $72.04 million in crypto shorts were liquidated within the last 24 hours. Notably, $28 million of this was from BTC shorts, with over $14 million stemming from Ethereum.
Furthermore, the past 24 hours witnessed the liquidation of 34,471 traders, resulting in a total liquidation value of $102.35 million. Of particular significance is the largest single liquidation order, which took place on Bybit, involving a BTC-USDT value of $2.17 million.
In other news, Invesco and Galaxy Asset Management announced on Monday that they will reduce the sponsor fee on their latest spot Bitcoin ETF. Despite being ranked sixth in trading volumes within the growing market, their product has seen over $280 million in buying and selling activity, with a similar amount of capital in assets under management.
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