Short-term investors sell $375 million a day as Ethereum’s best hits


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[Blockchain Today Reporter Park Yohan] It is known that the recent Ethereum price surged to an all-time high of $3,450, causing significant losses for long-term investors. This was reported by Cryptopotato.

According to on-chain data, derivatives exchanges resulted in record short-term sales of over $375 million in one day. Ethereum, the second-largest cryptocurrency, has increased by about 350% since the beginning of the year, and its rapid increase is accelerating further as it enters May.

Ethereum, which traded for $2,750, surpassed $3,000 for the first time in 48 hours, then steadily soared to the latest record of $3450.

Analytical firm CryptoQuant recently highlighted the pain that ETH prices have caused long-term investors. Short-term sales across all derivatives exchanges hit an all-time high, according to the analyst firm. According to Bybt, sales over the past 24 hours have surpassed $520 million, the majority of which have been short-term investors.

It is worth noting that Cryptoquant’s data only shows results from two permanent pre-contract pairs: ETH/USD and ETH/USDT.

BuyBit shows that the volatility of most assets is high, and the sale has been made across the cryptocurrency market. In the end, more than 140,000 traders have sold off in the last 24 hours, totaling close to $1.5 billion.

According to additional data from Skew, investors are trading more Ethereum than Bitcoin. Ethereum’s option trading volume surpassed BTC for the first time.

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