Ethereum Soared: Finally Above $4,000 – Here’s What to Know

The world's largest altcoin, Ethereum, managed to surpass the $4,000 barrier for the first time since March, according to the latest data.

Having increased by 6% in the last 24 hours, ETH made the move that the cryptocurrency community had been waiting for after a long wait. Interestingly, this rise came on a day when almost all major cryptocurrencies, except XRP, experienced a decline.

On the other hand, despite Bitcoin breaking its all-time high price record many times recently, Ethereum is still trading 18% lower than its record of $4,891.

Bitcoin price has declined by 4% in the last 24 hours and has fallen below the historic $100,000 threshold.

With the attack made by ETH, the majority of the liquidations in the entire cryptocurrency market in the last hour were on the Ethereum side. In the last hour, a total of $22 million was liquidated in the cryptocurrency market, $7 million of which was through ETH.

Interestingly, the cryptocurrency market faced a massive liquidation wave of $919 million in the last 24 hours. $753 million of these liquidations were in long positions.

*This is not investment advice.