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Ethereum Breaches $2,000 As Investors Liquidate Their Funds

Manoj Nair



Ether (ETH )

Both Bitcoin (BTC) and Ethereum (ETH) values were on a rise and the Global Digital Assets were experiencing bullish trends. However, investors were instead trying to divest their funds.

Ethereum Values Surge 80% In One Month

As per data received from Coinglass, in the past 24 hours a whopping $316 million have been liquidated from the crypto market by over 65k traders in the past 24 hour. The biggest single liquidation order happened on OKK. The deal was a ETH-USDT-SWAP valued at $2.41 million.

The crypto market cap has risen by over 2% in the final day and now stands at $1.18 trillion.

It is to be noted that $160 million in funds have been divested from Ethereum over the past 24 hours. As per data, 79.83 Ethereum were liquidated.

The rise in values of Ethereum has been precipitated by the anticipation of the forthcoming Merge update. This has catalyzed the surge in Ethereum prices which has grown by more than 80% in the past one month. However, the big question is -Will the number two cryptocurrency sustain its rise after the Merge update.

The number two cryptocurrency prices have surged and has broken through the psychological barrier of $2000 price level. However, it soon tanked slightly to reach $1980 price levels. ETH 24-hour trading volume has risen by 3% to stabilize at $20.1 billion.

It was reported earlier that Ethereum Merge update date has been forwarded but there has not been any official confirmation.

ETC up by 7%

Investors and institutional traders have divested $11.5 million from Ethereum Classic (ETC) in the last 24 hours. ETC prices have jumped by 7% in the same period and at price time it was trading when last reports came in at $44.50. Earlier it even touched the $45 price level in the start of the day.

Bitcoin , the number one crypto coin also faced huge divesting of around $96 million after staying in the green zone. BTC is trading at an average price of $24.3K up by 3% over the past 24 hours.

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