The recent price surge for Ethereum has led to a record level of short liquidations, drawing attention from traders.
Ethereum Short Liquidations
In the last 24 hours, short liquidations for Ethereum reached $111.27 million, significantly outpacing Bitcoin's liquidations of $34.71 million, marking an increase of 370%.
Short-Term Price Dynamics
Ethereum surged to a high of $3843, following a rebound from a low of $3563. This unexpected price increase triggered significant short position liquidations.
Comparison with Other Cryptocurrencies
In recent days, Ethereum has also shown gains relative to other cryptocurrencies. The SOL/ETH hot capital ratio has declined to a year-to-date low of 0.045. Over the past week, ETH has shown resilience with realized cap growth increasing from 5.32% to 6.41%.
The situation in the Ethereum market reflects rising liquidations and price dynamics, indicating increased investor interest in this asset.
