Ethereum hits a monthly high with $150 million liquidated in the market, as we can see more of today in our last ethereum price today.
The price of ETH has exploded in the past few hours and hit an intraday high of $1420, which comes a day after the developers confirmed that the merger was set to happen in September. According to data from Coinglass, the last hour saw $150 million in ETH positions liquidated and the largest single liquidation order occurred on the FTX exchange while carrying a face value of $2.81 million while that Ethereum records a monthly high. The majority of positions liquidated were short. This happened on the back of ETH which exploded 7% in an hourly candle and hit a new high of $1422 on Binance.
The volume on the candle was over $300 billion and the last time ETH traded at these prices was back on June 13, meaning the crypto reached a new high. Ethereum is up over 10% in the last day with a whopping 40% in the last 2 days. It should also be noted that an increase will come when the developers confirm that the ETH merger is about to happen a few days before the launch.
As previously reported, BTC started its recovery after and came knocking on the $20,000 door a few days later after making a few attempts, but then recovered the coveted level and continued to rise. After being stopped at $21,000 yesterday, the bulls returned to the scene and pushed Bitcoin north of the line, so now BTC sits above $21,500 after hitting a new weekly high. Market capitalization has surpassed $400 billion, but altcoin dominance has fallen to 42%, with most of them in the green.
As mentioned, the alternate parts are also in green. For example, Ethereum leads the way with a strong 14% surge and broke above $1,400 a few hours ago. Similar price increases were seen at Avalanche, Matic, Solana, and Polkadot, all of which soared into double digits. SOL is trading above $40 and DOT north of $7. Cardano, Ripple, BNB, Tron, Litecoin, DOGE and SHIB also entered the green. Ethereum Classic has surged 33% and is the best performer among small-cap altcoins, trading near $20. with most altcoins posting strong gains, the market cap has added over $60 billion in one day and sits near $1 trillion.
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