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    Home » Crypto News » Over $150 Million Liquidated as ETH Price Skyrockets to a Monthly High

    Over $150 Million Liquidated as ETH Price Skyrockets to a Monthly High

    Author: George Georgiev

    Last Updated Jul 16, 2022 @ 17:28

    Ethereum skyrocketed to a monthly high in a massive hourly candle, leaving over $150 million liquidated.

    The price of ETH has exploded in the past couple of hours, reaching an intraday high at around $1420. This happens a day after developers confirmed that the ETH 2.0 merge is on track to happen in September.

    • According to data from Coinglass, the past four hours saw over $150 million in liquidated ETH positions.
    • The largest single liquidation order happened on FTX, and it carried a face value of $2.81 million.
    • Needless to say, the majority of the liquidated positions were short.
    • This happened on the back of ETH exploding by 7% in a single hourly candle, charting a high of $1422 on Binance.
    ETHUSDT_2022-07-16_20-23-29
    Source: TradingView

     

    • The volume on that candle has been over $300 million.
    • The last time ETH was trading at these prices was back on June 13th, meaning that the cryptocurrency charted a monthly high.
    • Ethereum is up over 10% in the past 24 hours and a whopping 40% in the past 48 hours.
    • It’s worth noting that the increase comes a day after developers confirmed that the ETH 2.0 merge is on track to happen in September.
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    Tags: Ethereum (ETH) Price
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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