# Magma Finance

Type: Token (MAGMA)

Source: Crypto Intelligence Brief — https://getcryptobrief.com/entity/magma-finance
Canonical HTML page: https://getcryptobrief.com/entity/magma-finance

## Timeline

- **2026-07-03T22:20:00-04:00**: End-of-day crypto prices recorded — BTC $61,460.31, ETH $1,708.41, XRP $1.09, SOL $81.33, DOGE $0.07466; open interest at $46.22B, derivatives traders trim long positions.
- **2026-07-03**: Weak June U.S. jobs report released — Nonfarm payrolls gain only 57,000 (implied), far below expectations, signaling a sharp slowdown in the labor market and slashing rate-hike odds.
- **2026-07-03**: U.S. stock indexes rally to records — The Dow closes at 52,900.07, up 594.83 points (1.14%); S&P 500 posts narrow gain, Nasdaq dips 0.8% on rotation out of high-multiple tech.
- **2026-07-03**: Crypto surges as shorts liquidated — Bitcoin briefly breaks $62,000, Ethereum crosses $1,700; $460 million in short liquidations across the crypto market triggers a squeeze.

## Recent coverage (1 stories)

### ETH Outpaces BTC with 5.67% Surge as $460M Shorts Get Liquidated
2026-07-03 18:25:39 · Sentiment: Very Bullish · Impact: 7/10 · Sources: 2

Ethereum rallied 5.67% to $1,708, leading a crypto upswing after a dismal U.S. jobs report sapped rate-hike fears. Nearly $460 million in short liquidations fueled the pump, with Bitcoin clearing $62,000 briefly. Yet derivatives traders on Binance trimmed longs, signaling caution.
Full story: https://getcryptobrief.com/story/ethereum-leads-crypto-rally-short-squeeze

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