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This indicates that ETH\u2019s market cap is deteriorating much further during this market crash than the top crypto asset. So far this year, ETH has gone down by 42.9% and its price at the time of writing stands at around $1,880 per coin.<\/p>\n
Other competing altcoins like Solana (SOL) and BNB Chain (BNB) have performed better during this period as they have experienced milder losses of 35.6% and 22.3% respectively.<\/p>\n
This severe weakness has pushed Ethereum\u2019s dominance to its lowest level since May 2020 at 8.8%. In addition, the total value locked (TVL) within the Ethereum network has collapsed from its December local peak of $74 billion to $45.8 billion.<\/p>\n
However, investors have not been pulling out money from the ecosystem despite the market\u2019s depressive attitude. The amount of stablecoins held within the Ethereum (ETH) has actually grown from around $111 billion on December 31 to $122 billion at the moment.<\/p>\n
Crypto liquidations have skyrocketed in the past 24 hours to $908 million. A total of $202 million worth of ETH long positions have been flushed out of the system during this period.<\/p>\n
The severity of ETH\u2019s 24-hour drop has almost equaled the amount of liquidations that BTC traders faced during this period, which is not a common occurrence.<\/p>\n<\/div>\n
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[ad_1] ETH\/BTC Weekly Chart (Binance) \u2013 Source: TradingViewThis indicates that ETH\u2019s market cap is deteriorating much further during this market crash than the top crypto asset. So far this year, ETH has gone down by 42.9% and its price at the time of writing stands at around $1,880 per coin. Other competing altcoins like Solana (SOL) and BNB Chain (BNB) have performed better during this period as they have experienced milder losses of 35.6% and 22.3% respectively. This severe weakness has pushed Ethereum\u2019s dominance to its lowest level since May 2020 at 8.8%. In addition, the total value locked (TVL) within the Ethereum network has collapsed from its December local peak of $74 billion to $45.8 billion. However, investors have not been pulling out money from the ecosystem despite the market\u2019s depressive attitude. The amount of stablecoins held within the Ethereum (ETH) has actually grown from around $111 billion on December 31 to $122 billion at the moment. $200M Worth of Long ETH Positions Were Wiped in the Past 24H Crypto liquidations have skyrocketed in the past 24 hours to $908 million. A total of $202 million worth of ETH long positions have been flushed out of the system during this period. The severity of ETH\u2019s 24-hour drop has almost equaled the amount of liquidations that BTC traders faced during this period, which is not a common occurrence. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":38331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-38330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t