Ether Drops to $3.8K As Over $12.5M Futures Liquidated

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Coinglass analytics confirmed $11.89 million value of liquidations originated from ‘long’ merchants, or these borrowing from exchanges to guess on larger ether costs. 92% of all merchants had been lengthy ether Monday morning, and 50% of the liquidations befell on crypto change OKEx, which accounted for over $4.93 million in liquidations.