$97,912,977,948 to $1,000 amid selling pressure from DeFi liquidation

Today's Ethereum Price

Short-term Ethereum holders led the recent selling activity, incurring losses exceeding $500 million on Monday.

Increased DeFi liquidation could accelerate Ethereum's decline and may lead to further liquidations.

Ethereum could drop to $1,000 if it breaks below the bottom of the descending channel.

Ethereum (ETH) has suffered a collapse of over 27% in the past 48 hours, briefly dropping to a two-year low of $1,410 before recovering to the $1,500 level on Monday. According to Coinglass data, the drop triggered a liquidation worth