Ethereum (ETH), the world’s second largest cryptocurrency is witnessing huge selling pressure due to increased doubt among traders. The dumping market situation has led to a massive drop in global market capitalization.
Ethereum price sees massive liquidation
As per the data, Ethereum price has dropped by a massive 21% over the last 24 hours. ETH is trading at an average price of $1,230.6, at the press time. However, its 24 hour trading vol has surged by a whopping 130% to stand at $47.6 billion.
Data presented by Coinglass depicts that more than $228 million have been liquidated from Ethereum in the last 24 hours. Around $160 million has been liquidated on the long position. This represents 70% of all the positions set by the traders.
PeckShieldalert reported that $11.5 million worth of Ethereum is liquidatable at $1150. However, Okex registered the highest number of liquidations of $58 million in Ethereum.
Whale alert reported that a crypto whale has added $22.5 million worth of Ethereum to an unknown wallet. However, more than $107.2 million worth of ETH has been moved by the whales amid the price dip.
Global crypto market under heavy selling pressure
ទោះយ៉ាងណាក៏ដោយ global digital asset market has dropped by 13% in the last 24 hours. The cumulative market cap has dropped under the crucial $1 trillion mark. It now stands at $865.6 billion. Meanwhile, 24 hour trading vol is up by 82% to stand at $215 billion.
As per the data, around 392,520 traders have liquidated more than $838 million. The largest single liquidation transaction was recorded on Binance នៃ 6.7 លានដុល្លារ។
Bitcoin price is down by almost 11% in the last 24 hours. BTC is trading at an average price of $17,569, at the press time.
Changpeng Zhao’s (CZ) Binance’s recent announcement has allegedly led to this market condition. CZ stated that it has signed a non binding Letter of Intent (LOI) to fully acquire the FTX crypto exchange.
ខ្លឹមសារដែលបានបង្ហាញអាចរាប់បញ្ចូលទាំងគំនិតផ្ទាល់ខ្លួនរបស់អ្នកនិពន្ធនិងស្ថិតក្នុងស្ថានភាពទីផ្សារ។ ធ្វើការស្រាវជ្រាវទីផ្សាររបស់អ្នកមុនពេលវិនិយោគលើគ្រីបគ្រីប។ អ្នកនិពន្ធឬការបោះពុម្ពផ្សាយមិនទទួលខុសត្រូវចំពោះការបាត់បង់ហិរញ្ញវត្ថុផ្ទាល់ខ្លួនរបស់អ្នកទេ។
Source: https://coingape.com/ethereum-price-down-by-21-over-228-million-liquidated/