{"id":29979,"date":"2024-04-30T19:59:21","date_gmt":"2024-04-30T19:59:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethereum-drops-below-3k-as-liquidations-hit-320-million\/"},"modified":"2024-04-30T19:59:21","modified_gmt":"2024-04-30T19:59:21","slug":"ethereum-drops-below-3k-as-liquidations-hit-320-million","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethereum-drops-below-3k-as-liquidations-hit-320-million\/","title":{"rendered":"Ethereum drops below $3k as liquidations hit $320 million"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/eth-ethereum-token-symbol-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/eth-ethereum-token-symbol-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/eth-ethereum-token-symbol-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/eth-ethereum-token-symbol-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Ethereum price has dropped below $3,000, hitting lows of $2,942 on Coinbase.<\/li>\n<li>The decline in the price of Ethereum comes as spot ETH ETFs saw a tepid debut in Hong Kong.<\/li>\n<li>Liquidations hit $320 across the crypto market, with over $96 million in ETH (over $78 million of it in liquidated longs).<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/news\/tag\/ethereum\/\">Ethereum<\/a> has declined to below $3,000 again as the broader crypto market reels from downside pressure.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As Bitcoin <a href=\"https:\/\/coinjournal.net\/news\/btc-slips-amid-poor-debut-for-hong-kong-spot-etfs\/\">retested prices near $60,000<\/a> on Tuesday, ETH price moved lower and broke under the psychological $3k level. <\/span><\/p>\n<p><span style=\"font-weight: 400\">On crypto exchange Bitstamp, ETH\/USD reached lows of $2,945 while the second largest cryptocurrency by market cap\u2019s value revisited $2,942 on US-based exchange Coinbase.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">ETH price weakness amid key developments<\/span><\/h2>\n<p><span style=\"font-weight: 400\">ETH is seeing renewed downside pressure amid crucial developments around this cryptocurreny\u2019s ecosystem and in the regulatory space. This past week, <a href=\"https:\/\/coinjournal.net\/news\/consensys-sues-sec-for-clarification-on-ethereum-eth-classification-as-a-security\/\">Consensys sued the US Securities and Exchange Commission (SEC)<\/a>, accusing the regulator of gross overreach in its enforcement actions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Consensys also wanted the court to declare ETH not a security amid reports that <a href=\"https:\/\/coinjournal.net\/news\/sec-has-regarded-ethereum-as-security-for-at-least-a-year-report\/\">the SEC has considered Ethereum an unregistered security<\/a> for at least the past year.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ethereum price remained steady above $3k despite these developments, with the anticipation around the debut of spot Bitcoin and Ethereum ETFs in Hong Kong providing optimism. However, on Tuesday, April 30, the spot ETH ETFs in Hong Kong did not match anticipated volume and assets.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Ethereum sees over $96 million in 24-hour\u00a0 liquidations<\/span><\/h2>\n<p><span style=\"font-weight: 400\">While top ETF analysts say the market size of Hong Kong suggests the numbers are impressive, market reaction is largely negative.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The result has been massive liquidations across the market, with <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener\">Conglass data<\/a> showing total liquidated assets in the past 24 hours stood at over $320 million at the time of writing.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ethereum has seen the most liquidations in this period, with over $96 million. Of this, more than $78.3 million is in long positions and around $18.8 million in short positions. <\/span><\/p>\n<p><span style=\"font-weight: 400\">More than 108,601 traders have been liquidated in 24 hours, with the single-largest liquidation order recorded on the Binance exchange at $5.03 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">ETH price has declined by 6% in the past 24 hours, according to data from CoinGecko.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/ethereum-drops-below-3k-as-liquidations-hit-320-million\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Ethereum price has dropped below $3,000, hitting lows of $2,942 on Coinbase. The decline in the price of Ethereum comes as spot ETH ETFs saw a tepid debut in Hong Kong. Liquidations hit $320 across the crypto market, with over [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":29980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29979"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=29979"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29979\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/29980"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=29979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=29979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=29979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}