7% price rally during the intraday trading session on 3 May caused short liquidations on its derivatives market to rally to a two-month high, according to
Short liquidations occur when the value of an asset suddenly rises, and traders who have open positions in favor of a price decline are forced to exit their positions.data, the altcoin closed on 3 May above $3000 after trading below that price level since the beginning of the month.Still extending its gains at press time, ETH’s price was up by over 5% in the last 24 hours. At the time of writing, the market-leading altcoin was valued at $3,104.
Similarly, the coin’s Futures open interest recorded a minor 3% hike over the same period. ETH’s Futures open interest was $10.68 billion at press time.Options trading grants participants the right to buy or sell an asset at a specified date.