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Long positions made up 92.1% of the total at 1:31 a.m. ET Thursday (05:31 UTC), while Ether was down 6.2% over 24 hours.
ETH went through an hour of rapid liquidations, wiping out over $157M of positions from Binance. Over 92% of all liquidations were on the long side.
VanEck has asked the SEC to withdraw the Form S-1 for its Lido Staked Ethereum ETF, a stETH product that never sold a share. The SEC has not yet consented.
VanEck asked the SEC to withdraw its proposed Lido stETH ETF registration. The fund never launched, so no investor redemptions or forced sales follow.
More than $106 million in Ethereum (ETH) long positions were liquidated on Binance within one hour following hotter-than-expected U.S. inflation data, marking the largest hourly liquidation of ETH longs on the exchange in nearly six months, according to CryptoQuant analyst Darkfost.
Crypto futures trading volume was about nine times spot volume, while expectations for another Federal Reserve rate increase climbed from 17% to nearly 30% during the week.
Almost $270 million worth of ETH longs were wrecked in the past 24 hours.
Ether loses 5.41 percent over 24 hours and falls to a daily low of $2,332.43. Our own count of the 25 largest cryptocurrencies shows how broadly the sell-off really carries.
The September U.S. inflation rate reached 3.7% year over year, above the 3.6% economists had expected.
U.S. spot Ether ETFs posted $129.51 million in daily net outflows, led by BlackRock's ETHA. Total net assets stood at $15.2 billion.
ETH ranged from $2,320.55 to $2,526.07 in the 24 hours ending at 1:43 a.m. ET Thursday.