Ethereum Explodes to $4.2K, $200 Million Liquidated, Trump Rejoices
Main Idea
Ethereum (ETH) has seen a significant price surge, reaching around $4,200, its highest level since December 2021, while also causing substantial liquidations, particularly affecting short positions.
Key Points
1. ETH's price surged nearly 20% weekly, reaching around $4,200, a level last seen in December 2021.
2. Over the past 24 hours, ETH accounted for the majority of liquidations, totaling over $200 million, with $185 million being short positions.
3. Eric Trump commented on the situation, expressing satisfaction at ETH short positions being liquidated and advising against betting against BTC and ETH.
Description
Ethereum has been the best performer amid the large-cap cryptocurrencies for the past 24 hours, wrapping up 7% gains in the interim and bringing its total weekly increase close to a whopping 20%. At the time of this writing, ETH is trading at around $4,200. Source: TradingView The move marks a major feat in ETH’s price as the last time it was trading this high was in December 2021. That said, over the past 24 hours, the cryptocurrency accounted for the lion’s share of liquidations. Over $200 mil...
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