{"id":7156,"date":"2022-09-15T17:48:59","date_gmt":"2022-09-15T17:48:59","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=7156"},"modified":"2022-09-15T17:49:01","modified_gmt":"2022-09-15T17:49:01","slug":"eth-falls-below-1500-as-over-150m-is-liquidated-in-24-hours","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7156","title":{"rendered":"ETH falls below $1,500 as over $150M is liquidated in 24 hours"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p class=\"p1\">The largest liquidation candle in a month wiped out most of the gains Ethereum posted following the Merge.<\/p>\n<p class=\"p1\">Following its transition to a Proof-of-Stake network, ETH touched $1,640 in what many believed would be the beginning of a rally. However, aggressive liquidation pushed its price below $1,500, with ETH standing at around $1,480 as of press time.<\/p>\n<p>Graph showing the price of Ethereum from Sept. 12 to Sept. 15 (Source: ETH CryptoSlate)<\/p>\n<p class=\"p1\">Over $60 million in ETH has been liquidated in less than an hour, creating downward pressure on the rest of the altcoin market. In the past 24 hours, liquidations exceeded $150 million.<\/p>\n<p>According to data from CoinAnalyze, around $77 million in liquidations occurred on OKEx, while FTX stands second with around $40 million in ETH liquidations in the past 24 hours.<\/p>\n<p>Graph showing liquidations per exchange in the past 24 hours (Source: CoinAnalyze)<\/p>\n<p>The majority of liquidations were longs \u2014 around $98.6 million in longs were liquidated in the past 24 hours, while the market has seen only about $48.3 million in shorts liquidated.<\/p>\n<p>The massive losses weren\u2019t exclusive to Ethereum \u2014 the rest of the crypto market took a hit, with many large-cap coins going into the red. But while most saw losses that didn\u2019t exceed a few percent, Ethereum saw its price decrease by over 7.5% in a day.<\/p>\n<p>It\u2019s still early to tell what caused the massive liquidations. Some believe they could have been a result of speculation surrounding the Merge. Others believe that the broader market uncertainty could have caused them.<\/p>\n<p>The traditional market saw an equally unexpected crash in the past several hours, with stocks and indexes dropping after days of relative stability. The ongoing volatility could be a reaction to the meeting Russian President Vladimir Putin had with Xi Jinping, the President of China.<\/p>\n<p>The two leaders met in Uzbekistan earlier today to discuss \u201cglobal and regional stability\u201d following Russia\u2019s invasion of Ukraine.<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/over-150m-liquidated-in-24-hours-pushes-eth-below-1500\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The largest liquidation candle in a month wiped out most of the gains Ethereum posted following the Merge. Following its transition to a Proof-of-Stake network, ETH touched $1,640 in what many believed would be the beginning of a rally. However, aggressive liquidation pushed its price below $1,500, with ETH standing at around $1,480 as of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-7156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7156"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7156\/revisions"}],"predecessor-version":[{"id":7158,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7156\/revisions\/7158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7157"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}