The crypto market has seen over $360 million in Ethereum and Bitcoin liquidated in the past 24-hours. Over $100 million in ETH and $165 million in BTC have been liquidated as the two popular cryptocurrencies have seen significant growth over the weekend. The movements are being felt all over the market, total liquidation totals $365 million.
As the market moves up, traders are grieving the liquidations. Market metrics indicate a potential bull run, such as an increase in small holdings addresses and movement of assets off of the exchanges. There have been positive developments in the space, particularly for Ethereum. The Merge successfully took place on the Kiln testnet earlier this month. This may have engaged the public’s interest. Ethereum Merge Google searches also saw increases, with the search term gaining a Google Trends score of 100. This may have also attracted a lot of investors.
Vitalik Buterin, the co-founder of Ethereum, also heightened interest in the Ethereum blockchain and blockchain through his acclaimed interview on Time. The interview gave insights as Vitalik shared his concerns and hopes for Ethereum and crypto space as a whole. He acknowledged that Ethereum’s gas fees were a problem. The developers are looking at solving this issue with ETH2. They will also look into sharding to make a difference and make Ethereum more scalable.