$ETH $ETH

ETH

The Ethereum (ETH) cryptocurrency experienced significant liquidations in the past twenty-four hours, primarily due to geopolitical tensions between Israel and Iran, which were attributed to the broader cryptocurrency market.

Here is a breakdown of Ethereum liquidations:

* Total Ethereum liquidations: Approximately $296 million in available Ethereum futures liquidations. This includes both long and short liquidations.

* Most affected long positions: Most of these liquidations came from long positions. Reports indicate that approximately $239.09 million was in long liquidations, while $57.77 million was in short liquidations. This confirms that traders who bet on rising Ethereum prices have ceased trading due to the sharp market decline.

* Price drop: Ethereum declined significantly, dropping at one point below the key $2500 level. It experienced a decrease of 8-9% over the twenty-four hour period.

* Context: This sector was part of a major market liquidation process that led to over $1.15 billion in leveraged positions being lost across all cryptocurrencies. Bitcoin also saw significant liquidations.