Ethereum Battles $3,200 Support as $200M Liquidation Wave Hits Network Despite Record Transaction Activity | Crypto Craft

  • Ethereum Battles $3,200 Support as $200M Liquidation Wave Hits Network Despite Record Transaction Activity

    From fxleaders.com

    Ethereum is worth about $3,200 right now, which is 2.8% less than it was 24 hours ago. This is because a huge liquidation cascade hit the crypto markets on January 19. The second-largest cryptocurrency by market value was caught in a market-wide deleveraging event that wiped out more than $514 million in long positions in only one hour. Ethereum was responsible for more than $200 million of the forced selling. The big drop happened when Bitcoin fell 3% to $92,500. This caused the rest of the crypto market to fall 2.79% and the Fear & Greed Index to drop from 49 to 45, which showed that traders were becoming less ... (full story)

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