Ethereum

Over $150 Million Liquidated As Ethereum Price Soars To Monthly Highs

Ethereum (ETH) spiked to monthly highs in a giant hourly candle, leaving over $150 million in liquidation.

ETH price has exploded over the past few hours, reaching an intraday high of around $1,420. This comes a day after the developers confirmed that The Merge Ethereum 2.0 is on track for September.

According to data from Coinglass, the past four hours have seen over $150 million in ETH positions liquidated.

Source: Coinglass

This happened after ETH exploded 7% in an hourly candle, charting a high of $1,422. The volume on that candle is over $300 million.

ETH 1-hour chart. Source: CoinCu

The last time ETH traded at these prices was on June 13, meaning the cryptocurrency charted monthly highs. Ethereum is up over 13% in the last 24 hours and a whopping 40% in the last 48 hours.

It is worth noting that the increase comes a day after the developers confirmed that the Ethereum 2.0 consolidation would take place on September 19.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.