Ethereum’s Wild Ride: $200M in Liquidations and a 10% Surge! 🚀💰

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Over the past 24 hours, ETH has soared more than 10%, a feat that would make even the most seasoned market wizard blink in astonishment. Its weekly ascent has reached a dizzying 23%, and with a current price of $3,381.83 and a market cap that has swollen to over $408 billion, Ethereum is once again the star of the crypto circus, despite the volatility that seems to follow it like a shadow.

But here’s where the plot thickens: data reveals that Ethereum has single-handedly accounted for nearly half of all crypto liquidations in the last 24 hours. Out of a total of $408 million in positions that have been mercilessly wiped out, Ethereum contributed a staggering $193 million. Of this, a whopping $169 million came from short positions, while the longs managed to lose a mere $24 million. It’s almost as if the market is playing a cruel joke on the bears, isn’t it?

This dramatic price surge has caught many bearish traders off guard, much like a sudden downpour in a desert. The broader market has also seen a similar carnage of leveraged shorts, a testament to the sheer force of the current bullish wave. It’s a spectacle that would make even the most jaded market observer crack a smile.

With Ethereum’s trading volume surpassing $46 billion in a single day, the momentum shows no signs of slowing down. As the asset edges closer to the $3,400 milestone, the potential for more liquidations looms large, especially if it manages to break through the resistance. One can only wonder what other surprises the market has in store. 🤔🔥

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2025-07-17 01:17