Ethereum Liquidations Top $127M Amid Post-Merge Volatility
The successful merge carried out by the Ethereum network this week hasn’t staved off the effects of crypto’s ongoing bear market, with Ethereum’s price down around 8% in the past 24 hours. Ethereum, the second largest cryptocurrency by market cap, is currently trading hands around $1,460, down 8.2% over the past 24 hours, according to CoinMarketCap.
Over the past seven days, Ethereum shed more than 14% of its value, tumbling from $1,740.88 on Wednesday to as low as $1,448.95 in the early trading hours of Friday. Daily trading volumes were also down 19.11% to $20 billion in the last 24 hours. This bearish price shift also led to over $127.4 million in Ethereum liquidations, according to data from Coinglass. More than 80% of these liquidations, over $103 million, were long positions from bullish crypto traders.
Source
@CryptoWorldAnalysis
