- Global crypto markets faced a significant liquidation cycle, with Ethereum taking a substantial hit.
- The largest single liquidation involved a $29.12M ETH-USD position.
- Over 210,000 traders were affected by the rapid market downturn.
In the past 24 hours, $829 million in cryptocurrency positions were liquidated globally, predominantly impacting long positions, with the largest single liquidation on Hyperliquid’s ETH-USD, totaling $29.12 million.
This event highlights the volatility in cryptocurrency markets, affecting over 210,000 traders and triggering a sharp decline in major assets like Bitcoin and Ethereum.
Ethereum Leads as $829M in Liquidations Affect 210,000 Traders
Over the last 24 hours, liquidations across major networks totaled $829 million, predominantly affecting long positions. A $29.12 million liquidation on Hyperliquid stood out as the largest single event. These data were confirmed by Coinglass, which highlighted a heightened risk and aggressive speculative behavior within the market.
This event has led to a broad sell-off across digital assets, with market valuations dropping sharply. Ethereum’s price fell below critical support levels during this period, indicating significant stress on the cryptocurrency, which is popular among traders.
As ETH dipped below $4,000, a trader’s (0xa523) entire 9,152 ETH long position valued at $36.4 million was liquidated. His total losses now exceed $45.3 million, leaving him with less than $500,000 in his account. — Lookonchain Analyst, Lookonchain
Communities and industry experts have voiced concerns about trading risks and excessive leverage. While there have been no official statements from major stakeholders, this sell-off emphasizes the importance of cautious trading strategies.
Ethereum’s 7.87% Drop Raises Regulatory Concerns Amid Surging Volatility
Did you know? Historical trends indicate that market corrections often lead to tighter trading restrictions and updated compliance frameworks.
According to CoinMarketCap, Ethereum’s price has experienced a 7.87% decline in the past 24 hours, with the current price at $3,856.19. Market cap stands at $465.46 billion, capturing 12.46% market dominance. The trading volume surged by 70.02% over the last day, reflecting increased market volatility.
The Coincu research team suggests that continued volatility in Ethereum and other cryptocurrencies could trigger further regulatory scrutiny and caution among institutional investors. Strong signals in price action can be found as ETH price demonstrates potential amid the market fluctuations.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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