ETH Rally Wipes Out $173M in Shorts—Eric Trump Says it Puts a ‘Smile on My Face’
Main Idea
Eric Trump mocked traders who shorted Ethereum as its rally led to over $173 million in short contract losses, advising against betting against ETH and Bitcoin.
Key Points
1. Ethereum (ETH) rallied past $4,000 for the first time since December 2024, reaching approximately $4,240, wiping out over $173 million in short contracts.
2. Eric Trump, Trump Organization Vice President, publicly mocked short sellers on X, stating it put 'a smile on my face' and warned traders against betting against ETH and Bitcoin.
3. Coinglass data showed over 95,000 traders were liquidated, with total liquidations reaching $350.04 million, with ETH shorts accounting for over 60% of the losses.
4. A breakout above $4,250 was speculated to potentially push ETH toward $4,300 or even $4,500, with ETH trading just under $4,250 at the time of reporting.
Description
Eric Trump mocked traders who were shorting ethereum as the cryptocurrency’s rally led to over $173 million in short contract losses. ETH Rally Obliterates Short Contracts On Aug. 8, Trump Organization Vice President Eric Trump mocked traders who were shorting Ethereum ( ETH) after the digital asset’s rally obliterated more than $173 million in short
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