Ethereum

Million

Base

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-faces-212-million-liquidation-threat-as-prices-near-critical-level/" data-wpel-link="internal">Ethereum Faces $212 Million Liquidation Threat as Prices Near Critical Level</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/vitalik-buterin-tutuklanan-griffith-icin-imza-toplayacak" data-wpel-link="internal">Ethereum</a>’s price is approaching the critical $3,100 level, facing a $212 million liquidation threat. If <a href="https://en.coin-turk.com/ethereum-price-correction-warning-by-qcp-capital/" data-wpel-link="internal">Ethereum</a>‘s price falls below $3,100, the liquidation of $212 million in leveraged long positions could occur, causing concern in the cryptocurrency sector.</p> 
<h2 style="text-align: justify" id="ethereum-price-stays-above-3-200">Ethereum Price Stays Above $3,200</h2> 
<p style="text-align: justify">This prediction follows Ethereum’s price dropping sharply by 9.3% to $3,254 in the last 24 hours. On a weekly basis, ETH has seen a decline of over 18%. Therefore, a further drop below $3,100 could lead to the erasure of $212 million for investors with long-focused positions.</p> 
<p style="text-align: justify">The latest market fluctuation has led to significant liquidations of $624.4 million in just the last 24 hours. This fluctuation particularly affected long positions, with $514 million in longs and $110 million in shorts being closed. The OKX exchange experienced the highest liquidation volume with $90.8 million, followed by <strong><a href="https://en.coin-turk.com/binance-and-ceo-changpeng-zhao-plan-to-request-dismissal-of-cftc-lawsuit/" data-wpel-link="internal">Binance</a></strong> and <strong>Bybit</strong> with liquidations of $79.9 million and $23.4 million, respectively.</p> 
<h3 style="text-align: justify" id="institutional-interest-may-be-in-a-testing-phase">Institutional Interest May Be in a Testing Phase</h3> 
<p style="text-align: justify">A Bitfinex report highlights the sharp decline in <a href="https://coin-turk.com/bitcoin-yukselis-suruyor-30-bin-dolar-asildi-unlu-isme-gore-bu-daha-fragman" data-wpel-link="internal">Bitcoin</a>, the flagship cryptocurrency, since March 14, suggesting it could be a potential test of institutional interest that may lead to a price reset in the crypto market.</p> 
<p style="text-align: justify"><a href="https://coin-turk.com/ripple-yatirimcilari-tetikte-xrp-icin-kritik-formasyon-olusmak-uzere" data-wpel-link="internal">Altcoin</a> market’s increasing investment flows and record outflows from ETH are strengthening the bullish narrative for Ethereum and Layer-1 Blockchain projects. Additionally, on March 11, there was a record increase in net Ethereum outflows from exchanges, with 154,000 Ethereum withdrawn.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-326849 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/Ethereum-ETH-Altcoin-1.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">The decreasing supply on exchanges could support upward price movements. <strong>Bitfinex</strong> points out, “Recent net flow data indicates a potential short-term upward trend for Ethereum. However, we suspect this might be due to investors moving their Ethereum to trade on an ERC-20 protocol or a Layer-2 like the Base mainnet outside of exchanges.”</p> 
<p style="text-align: justify">This move could be interpreted as a strategic shift by investors aiming to profit through alternative trading platforms or technologies. At the time of writing, Ethereum is trading at $3,223. Looking at the king of <a href="https://en.coin-turk.com/vitalik-buterin-highlights-potential-of-depin-projects-like-storj/" data-wpel-link="internal">Altcoin</a>‘s latest price, it has dropped by approximately 20% from the $4,000 level. If the correction ends, ETH’s price could potentially move back towards $4,000.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-faces-212-million-liquidation-threat-as-prices-near-critical-level/" data-wpel-link="internal">Ethereum Faces $212 Million Liquidation Threat as Prices Near Critical Level</a></h5>

Ethereum Faces $212 Million Liquidation Threat as Prices Near Critical Level

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