As more than $150 million is liquidated in 24 hours, ETH drops below $1,500. The biggest liquidation candle of the month erased most of Ethereum’s post-merger gains. After the transition to the Proof of Stake network, ETH reached $1,640, which many believe will be the start of an uptrend. However, aggressive liquidation pushed the price below $1,500, with ETH hovering around $1,480 at press time. A graph showing the price of Ethereum since September. September 12-15. More than $60 million of ETH was liquidated within an hour, putting pressure on the rest of the altcoin market. Liquidity in the last 24 hours exceeded 150 million dollars.
According to CoinAnalyze, around $77 million USD has been liquidated on OKEx, while FTX is second with $40 million USD of ETH liquidations in the last 24 hours. liquidation of the stock market. Chart showing exchange liquidity over the last 24 hours. Most of the liquidation was long-term, with about $98.6 million liquidated in the last 24 hours. The big losses are not only for Ethereum – the rest of the cryptocurrency market was affected, and many high-value coins entered the market. But while most did not lose more than a few percent, Ethereum saw its price drop by more than 7.5 percent in one day.
It is too early to say what caused these huge leaks. Some believe they may be the result of merger speculation. Others believe it could cause even more uncertainty in the market. The main market has seen unexpected declines in recent hours, with stocks and indices falling after days of relative stability. The current instability may repeat the meeting between Russian President Vladimir Putin and Chinese President Xi Jinping. The two countries’ leaders met today in Uzbekistan to discuss “global and regional stability” after the Russian invasion of Ukraine.