Ethereum Shorts Hit Record $388 Million in Liquidations

Ethereum’s price surge to a record high of $4,885 triggered historic short liquidations worth over $388 million within 24 hours. This massive event highlights Ethereum’s increasing institutional adoption and market volatility. Driven by strategic network upgrades, major institutional investments, and shifting Fed monetary signals, the price jump caused substantial pressure on leveraged traders and led to a spike in open interest for ETH derivatives, reaching an unprecedented $80 billion. Experts point to the growth of DeFi activity and increased engagement with Ethereum’s Layer 2 protocols as contributing factors to this dynamic shift. ]