#ETH

The crypto market experienced a major fire on Monday (2025,03/02), with total liquidations reaching US$ 2.24 billion. The main cause of this incident was the announcement by US President, Donald Trump, of the first round of import tariffs imposed on Canada, Mexico and China.

Several news sources reported that Ethereum ($ETH) was the most affected asset, with total liquidations of more than US$ 609.9 million. This impact was felt by several large Crypto exchange platforms, especially Binance.

Binance was the platform most affected, with 36.8 percent of the total liquidations occurring there. Other large exchanges such as OKEx, Bybit, Gate.io and HTX also experienced a major impact from this sell-off.

More than 730,000 traders suffered losses, with the largest single liquidation occurring on Binance. ETH/BTC transactions worth US$ 25.6 million were the most affected. Most of the losses were experienced by traders with Long positions, and caused losses of up to US$ 1.88 billion or 84 percent of total liquidations.