The crypto market has experienced significant changes recently, with major token prices surging. Ethereum is leading the charge with a notable 20% increase.
Sudden Growth in the Crypto Market
After weeks of sideways movement, the crypto market has recorded a sharp increase led by Ethereum, which rose by 20%. This surge triggered over $750 million in short position liquidations in a single day, an event not seen since 2023.
Short Positions Under Pressure
According to CoinGlass data, 84% of all liquidations were from short positions, indicating a previously high level of bearish bets in the market that was violently corrected. Mass liquidations often precede new bullish stretches, as they clear excess pessimism from the market.
New Promising Projects on the Market
Against the backdrop of increasing interest in cryptocurrencies, new projects such as Solaxy, BTC Bull, and SUBBD are emerging, offering various solutions and mechanisms to attract users. For example, Solaxy aims to streamline transactions across Ethereum and Solana, while BTC Bull has a unique relationship with Bitcoin's price dynamics.
Recent events in the crypto market may indicate a shift in investor sentiment. With renewed volatility, the focus is shifting towards tokens with clear mechanics and real utility.
