According to data provided by CoinGlass, a total of $100.6 million worth of Ethereum (ETH) shorts have been liquidated over the past 24 hours.
Earlier this Sunday, ETH reached a new year-to-date peak of $3,825 on the Coinbase exchange. The altcoin has now managed to top the $3,800 level for the first time since December 2024.
The most popular altcoin has soared by more than 50% within just two weeks. It has now become bigger than Costco, Johnson & Johnson, and Palantir following such an impressive rally.
The ETH/BTC pair has now reached 0.031 BTC, the highest level since January.
However, it is worth noting that ETH is still 23.2% from reclaiming its current all-time high of $4,878 that was achieved more than three years ago.
Whales keep buying ETH
Ethereum's recent rally is not entirely surprising. As reported by U.Today, the number of holders of the flagship altcoin was recently hitting new peaks, which was obviously a very bullish signal.
According to data provided by Onchain Lens, a newly created wallet recently withdrew 4,200 ETH (roughly $16 million) and sent it for staking.
Earlier this Sunday, a whale also spent a total of 50 million USDT in order to buy nearly 13,500 ETH tokens, according to Lookonchain.
"Ethereum killer" makes stunning comeback
Ethereum's gains are undoubtedly impressive, but one O.G. "Ethereum killer" is suddenly seeing some love from investors and traders after disappearing from the radar.
Tezos (XTZ) is now on the cusp of re-entering the top 100 coins after soaring by 73% over the past seven days alone.
Vladislav Sopov
U.Today Editorial Team