Crypto whale liquidated for $308M in leveraged Ether trade

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The story "Crypto whale liquidated for $308M in leveraged Ether trade" was covered 14 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 14h ago

Crypto whale liquidated for $308M in leveraged Ether trade - Coin Telegraph

Quick Summary:

The liquidation came during a period of heightened volatility, as both crypto and traditional markets are limited by global trade war concerns due to the latest retaliatory tariffs from the European Union. Related: Bitcoin reserve backlash signals unrealistic industry expectationsEther risks correction to $1,800 amid tariff fears, ETF outflowsEther’s price has fallen by more than 53% since it began its downtrend on Dec.16, 2024, after it had peaked above $4,100.

Source: Cointelegraph/ TradingView The main reasons behind Ether’s downtrend are the ongoing macroeconomic concerns and lack of builder activity on the Ethereum network, according to Bitfinex analysts.“A lack of new projects or builders moving to ETH, primarily due to high operating fees, is likely the principal reason behind the lackluster performance of ETH.[...] We believe that for ETH, $1,800 will be a strong level to watch,” the analysts told Cointelegraph.

The unknown crypto trader was liquidated on their 50x leveraged long position for over 160,234 Ether (ETH), worth more than $308 million at the time of writing, Hypurrscan data shows.