Ethereum classic ETC/USD surged to an intraday high of $42.29 on Thursday, liquidating $9 million worth of short positions.

What happened: ETC is up 10% in 24 hours to hit a monthly high, according to data Gasoline Pro. ETC, on the other hand, rose 9.31% Bitcoin BTC/USD and 6.85% against ether ETH/USD.

Data from CoinGlass reveals that it was the fourth most liquidated asset over 24 hours at the time of writing.

In 12 hours, over $9 million worth of ETC shorts were liquidated, while only $3.8 million longs were liquidated in the same period.

A total of $260 million was liquidated across the crypto market as of Thursday. Bitcoin led with $106 million in liquidations, followed by Ethereum, which recorded $72 million in liquidations.

Unlike ETC, the majority of liquidations in BTC and ETH trading pairs have been seen by traders in long positions.

Decentralized Web3 infrastructure provider arrival ANKR/USD saw an unusually high $21 million in liquidations as its price went up 50% on the last day.

like altcoins Solana SOL/USD, optimism OP/USD and Dogecoins OP/USD saw liquidations worth $3 million, $2.21 million, and $1.53 million, respectively.