Ethereum's Major Decline: 220 Million Dollars Lost

Big Liquidations Occurred as Ethereum Dropped

In the last 24 hours, over 2.5 billion dollars worth of positions were liquidated in the cryptocurrency market. Among these liquidations, a notable 222.65 million dollar Ethereum transaction took place on the Hyperliquid exchange.

Ethereum led the wave of sales, resulting in the clearing of 1.15 billion dollars worth of positions. The value of Ethereum experienced a 17 percent decline. Bitcoin saw liquidations around 788 million dollars, while Solana faced approximately 200 million dollars in liquidations.

The forced liquidation wave was particularly concentrated on long positions, and the low liquidity exacerbated this situation. Once again, it has been highlighted how leveraged trades can trigger price movements and potentially affect market reversals.