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<p>Following the approval of an Ethereum ETF, the cryptocurrency market witnessed a surge in liquidations, with Ethereum’s liquidation hitting a remarkable $139.41 million within a mere 8 hours.&nbsp;</p> 
<p>This surge in liquidations includes the largest single liquidation order on Binance, totaling $12.41 million in ETHUSDC. Despite these fluctuations, Ethereum’s market capitalization remains strong at $455.1 billion.&nbsp;</p> 
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  <img decoding="async" src="https://lh7-us.googleusercontent.com/VNWzuKy6qPNpwwxjQV9lr3ENLNwn3iq7Pez4GxVcWkoB6kNAAZSCgPOQWkpHxyjEThmC4-6Y51tQUchk1-VlK9lxAMNs6F91bz48gg09tcF2TFNac9HFhiahq9B46Bcq3FUywDG8cJayMy3WOGs1tVQ" alt="Liquidation Heatmap" style="width: 100%;height:auto">
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   Image Source: Coinglass (Liquidation Heatmap)
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<p>Surprisingly, despite the ETF’s approval, Ethereum’s price experienced a modest increase, standing at $3,777. Notably, within 24 hours, Ethereum saw $92.20 million in long liquidations and $47.21 million in short liquidations, totaling $139.4 million in Ethereum.&nbsp;The market’s total liquidations reached $367.86 million, affecting 101,172 traders.</p> 
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  <img decoding="async" src="https://lh7-us.googleusercontent.com/HQ7T3wjs-OLcJFkTYnVEJ7bPFvSg8L7liffdJmJ0oddQT29QyguETQAH-5Ma11icJgKJaAK0vkqBCwxAENKaW2lhKxx0WtvCU0-bLJQkz72bubsatAplVgKmb4RUhOc0tRwL0aWnDdxme_LStkc0K_Y" alt="Ethereum price chart">
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   Image Source: CoinMarketCap (Ethereum price chart)
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<p>The trading volume saw a remarkable surge of nearly 95% within just 24 hours, reaching a staggering $46.07 billion. These events highlight the ever-changing dynamics of cryptocurrency markets and how regulatory decisions can greatly influence investor behavior.</p> 
<p>In the same timeframe, Bitcoin experienced liquidations totaling $69.39 million. This included $54.61 million from Long positions and $14.78 million from Short positions.</p> 
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  <img decoding="async" src="https://lh7-us.googleusercontent.com/bYGgwH9uqONbY0CA4f1b6ziLgQw71smZ9AXmR2UIdArfNAYBFcJBjt3T3WwffqFk0a-HwXzTEBz5PqwSHzKBuvxQcz35_FTbkYCg2YBsNITa1FawLV1qQAwx1oUFaYee575_26vnYNDzG8RV17lbKaE" alt="Bitcoin price chart">
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   Image Source: CoinMarketCap (Bitcoin price chart)
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<p>As of now, Bitcoin is valued at $67,288.05, boasting a market capitalization of $1.33 trillion. Its 24-hour trading volume has surged by almost 40%, standing at $42.92 billion.</p> 
<p>The surge in liquidations following the <a href="https://www.cryptotimes.io/2024/05/24/sec-finally-approves-ethereum-spot-etfs/" target="_blank" rel="noreferrer noopener">approval of an Ethereum ETF</a> underscores the inherent volatility of the cryptocurrency market. Despite Ethereum’s resilient market capitalization and a modest price increase, the significant liquidation figures reveal heightened trader activity and potential market uncertainty. How might ongoing regulatory developments and investor sentiment shape Ethereum’s trajectory amidst this evolving landscape?</p>

Ethereum Witnesses $139 Million in Liquidations Post-ETF Approval

The Crypto Times

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