Liquidations Cross $160 Million As Ethereum Breaches $2,000

The global digital asset market printed green indexes on Saturday as the largest crypto like Bitcoin (BTC) and Ethereum (ETH) grabbed an upward momentum. However, traders choose this as a good time to liquidate their funds.

Ethereum price jumps by 80% in last 30 days

As per the data revealed by Coinglass, more than $316 million have been liquidated from the crypto market by over 65k traders in the last 24 hours. It added that the largest single liquidation order happed on the OKX. It was ETH-USDT-SWAP valued at $2.41 million.

Meanwhile, the cumulative crypto market cap surged by more than 2% over the last day. It now stands at $1.18 trillion.

However, it is important to note that around $160 million worth of funds were being liquidated from Ethereum over the past 24 hours. As per the data, 79.83 Ethereum were liquidated.

Ethereum has managed to get on the upward trend over the anticipation of the ETH merge. The tokens have managed to surge by more than 80% over the past 30 days. However, a crucial question emerges whether will this surge continue post merge.

The second largest token price jumped by over 6% to breach the vital $2,000 price level. Ethereum went on to touch the $2012 price level before breaking down to the $1980 price level. ETH’s 24 hour trading volume surged by 3% to stand around $20.1 billion.

Earlier, Coingape reported that the Ethereum merge date can move further ahead of the estimated date.

ETC up by 7%

Interestingly, the traders liquidated around $11.5 million from Ethereum Classic (ETC) in the last 24 hours. ETC prices have jumped by 7% in the same time. It is trading at an average price of $44.50, at the press time. ETC went on to touch the $45 price level earlier in the day.

However, Bitcoin, the world’s largest crypto also registered a huge liquidation of around $96 million after printing green indexes. BTC is trading at an average price of $24.3K up by 3% over the past 24 hours.

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Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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