Рубрики NewsCrypto

ETH targets $5K: Meanwhile, $152 million worth of traders' positions are liquidated

Published by Tetiana Nechet

Ethereum continues to grow and set record after record. August 8 the maximum number of coins was in circulation — more than 121 million ETH. Moreover, 97% of the network’s addresses are currently in the profit zone. That is, the average cost of purchasing coins by these addresses is lower than the current market rate of $4,452.

The price increase hurt shorts. In total, over the past 24 hours, traders’ positions on Ethereum have been liquidated by $152 million. Of this amount, short positions amounted to almost $94 million.

Analysts do not rule out that the next resistance zone will be $5 thousand. In this case, the historical record of 2021 will be broken: $4,875. But there is one big “but”. As we have already written, large players transferred large volumes of Ethereum to exchanges. This is usually done in order to sell the coins and record a profit. If sellers start putting pressure on the price, the growth dynamics of ETH may slow down.

ETH profit realization (7-day SMA) peaked at $771 million/day in July, exceeding December 2024 levels, and is now rising again to $553 million/day. Long-term holders’ returns are in line with December 2024 levels. The most active were short-term positions of investors who are actively taking profits.

But whales are still accumulating coins. Recent ETF inflows and institutional buying are supporting the bullish sentiment, counteracting volatility from exiting traders.

Контент сайту призначений для осіб віком від 21 року. Переглядаючи матеріали, ви підтверджуєте свою відповідність віковим обмеженням.

Cуб'єкт у сфері онлайн-медіа; ідентифікатор медіа - R40-06029.