Ethereum Classic (CRYPTO: ETC) rallied to an intra-day high of $42.29 on Thursday, liquidating $9 million worth of short positions.
What Happened: ETC surged 10% over 24 hours, reclaiming a one-month high, according to data from Benzinga Pro. ETC was up 9.31% against Bitcoin (CRYPTO: BTC) and 6.85% against Ethereum (CRYPTO: ETH).
Data from CoinGlass shows that it was the fourth most liquidated asset over 24 hours at the time of writing.
Over 12 hours, more than $9 million worth of ETC shorts were liquidated while just $3.8 million longs were liquidated over the same period.
The overall crypto market saw a total of $260 million in liquidations on Thursday. Bitcoin led with $106 million in liquidations, followed by Ethereum which saw $72 million in liquidations.
Unlike ETC, the majority of liquidations on BTC and ETH trading pairs were seen by traders in long positions.
Decentralized web3 infrastructure provider Ankr (CRYPTO: ANKR) saw an unusually high $21 million worth of liquidations as its price surged 50% over the last day.
Altcoins like Solana (CRYPTO: SOL), Optimism (CRYPTO: OP) and Dogecoin (CRYPTO: OP) saw $3 million, $2.21 million and $1.53 million worth of liquidations, respectively.
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