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ETH Drops Below $2,800 as $70 Million Worth of ETH Gets Liquidated

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Fri, 01/21/2022 - 14:21
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Yuri Molchan
Ethereum price declines to $2,793 as over $71 million worth of ETH has been liquidated across exchanges
ETH Drops Below $2,800 as $70 Million Worth of ETH Gets Liquidated
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Data provided by CoinGlass crypto analytics platform shows that over the past four hours, the total amount of positions worth $71.40 in Ethereum (approximately 25,440 ETH) has been liquidated across multiple crypto exchanges.

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Image via CoinGlass

The liquidations began as the Ethereum price, following Bitcoin, started plunging and fell to the $2,793 level at press time. This is the lowest price mark for the second-largest cryptocurrency since September 2021.

In the past 24 hours, ETH has lost over 11% of its market value.

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Crypto Market Capitalization Tumbles from $3 to $1.8 Trillion in Less Than 3 Months

As reported by U.Today, over $353 million in cryptocurrencies were liquidated as Bitcoin plummeted from the $42,000 level to $38,000 earlier today. On Jan. 20, ETH was trading at $3,170, per data provided by the CoinMarketCap service.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.