“Powell’s Dovish Tone Sent Ether to Fresh Highs, But Nearly $ 400 Million in Liquidations Shows Just How Stretched Tradched Traders Were Heading Into The Move.”, – WRITE: www.coindesk.com


The Market Saw A Total of $ 769 Million Liquidated, Affecting Over 183,000 Traders, with The Biggest Single Loss Being A $ 10 Million Eth Swap on Okx.
Ethereum’s Rise to A Record $ 4,885 Follows Comments from Federal Reserve Chair Jerome Powell, and Analysts Suggest Institutional Buying Is Boosting ITS APEAL AS AS AS APFERRED BLOCKCHAIN.
The Wipeout Was Part of of $ 769 Million Liquidated Marketwide, with Over 183,000 Traders Forced Out of Positions. The Single Biggest Hit Was A $ 10 Million Eth Swap Order On Okx, An Unusual High Figure for The Token, Which Is Of Final Second to Bitcoin-Based Positions.
Liquidations Serve as A Stark Reminder of How Fragile Positioning Can Be in the Crypto Market. WHEN TRADERS PILE IN A LEVERAGE AND The Market Moves Againsta, Exchanges Step in and Automatical Close Those Bets.
A flush of long liquidations can reset for the Market for a Cleaner Bounnce, While a Cluster of Short Wipes Can Fuel the Next Leg Higher.
The MOVE CAME as Ether Surged Almost 15% to A Record $ 4.885 After Federal Reserve Chair Jerome Powell Suggested Rate Cuts Cuts Could Arrive in September. Bitcoin Lagged with A 4% GAIN to $ 113,000, While The Coindesk 20 Index Climbed 9%.
Analysts Say The Rally Isn’t Just A Macro Trade. Institutional Buying and Treasury Allociations Have Adeded A Tailwind, Feeding Speculation that Ethereum Could Become Wall Street’s Preferred Blockchain.
“Ether’s New All-Time High is a Clear Sign of Investor Demand Beyond Just Bitcoin,” SAID SAMIR Kerbage, Chief Investment Officer at Hashdex, Said in An Email To Coindesk. “I would expert eth to surpass $ 10k once we start to see stablecoin Solutions being Implemented for Payments Within The Us”
That $ 10,000 Target, Oner Deemed Overly Optimistic, is IncreASINGly Voiced As Ethereum Cements Itlexelf As the Backbone for Stablecoins, Tokenization, and Smart Contractors. The Year-to-Date Gain for Eth Now Stands at 45%.
Shaurya Holds Over $ 1,000 in Btc, Eth, Sol, Avax, Sushi, Crv, Near, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
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Doge’s Price Action Shows Potential for Further Gains, with Support at $ 0.21 and Resistance at $ 0.24.
- Meme token Surged to $ 0.24 with Trading Volume Nearly Doubling, Indicating Institutional Interest.
- The Federal Reserve’s Softer Crypto Stance and Wyoming’s Stablecoin Launch Boosted Digital Asset Sentiment.
- Doge’s Price Action Shows Potential for Further Gains, with Support at $ 0.21 and Resistance at $ 0.24.
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