Ethereum price surges 6% to $2,800 as shorts suffer amid $500M crypto liquidation
The post Ethereum price surges 6% to $2,800 as shorts suffer amid $500M crypto liquidation appeared on BitcoinEthereumNews.com.
Ethereum’s price rose 6% to above $2,800, driven by Bitcoin’s rally to $112,000 and optimism around ETH whale activity. The gains came as over $500 million in leveraged positions, including $139 million in ETH, were liquidated. Institutional interest and increased buying could drive Ethereum’s price higher. Ethereum (ETH) rose a decent 6% in 24 hours to reach highs above $2,800, with the top altcoin buoyed by a broader market rally. This is after Bitcoin (BTC) soared to a new all-time high above $112,000. However, the sharp price movements triggered widespread liquidations, with over $500 million in leveraged positions wiped out across major exchanges. Most of these were shorts, with cryptocurrencies rising alongside stocks on Wednesday. Ethereum hits $2,800 as crypto sees market momentum Ethereum’s climb to $2,821 in early trading on Thursday came as Bitcoin’s breakout above $112k lifted the broader digital assets space. It’s this bullish sentiment that has ETH price up more than 6% and on the cusp of a breakout above $3,000. According to data from CoinGecko, Ethereum’s trading volume spiked by 69% to over $29.8 billion, reflecting heightened market activity. Apart from a broader market upswing, ETH is benefiting from regulatory developments and the anticipation of what is next for the top altcoin. Whales and institutions are aggressively buying ETH, with Abraxas Capital withdrawing 29,741 ETH worth $81 million from crypto exchanges Binance and Kraken. Lookonchain shows the transactions occurred within the last 12 hours. Another wallet withdrew over 25k ETH tokens worth over $70 million from Kraken. Notably, SharpLink Gaming, a company that holds over 205,634 ETH worth over $575 million, added to its haul with another 5,072 ETH worth over $13.5 million. Ethereum broke back above $2,800 today! In the past 24 hours, 7 whales/institutions have bought 127,971 $ETH($358M). Newly created wallet 0x35fb withdrew…
Filed under: News - @ July 10, 2025 10:26 am