@$67524: Ethereum (ETH) Renews Its All-Time Highs Near $4,800
Ethereum (ETH) has been following the bullish mood of most cryptocurrencies today, as it has been posting strong daily gains across the largest cryptos by market capitalization. In fact, ETH hit a new all-time high at $4796.44 as of press time, according to Coinbase’s data, as it keeps following a bullish construction in terms of price action.
The news today per on-chain metrics was around $172 million in short positions liquidated over the last 24 hours. Overall, $240 million in short and long positions were liquidated, whose $50 million were lost by Ether traders. In addition, almost 46,831 holders shorted, according to the metrics revealed by Coinglass.
With the numbers in context, Bitcoin (BTC) today surpassed Tesla (TSLA) stocks by market capitalization for the first time in its history. Also, IntoTheBlock, a crypto analytical platform, noted that as ETH keeps refreshing its all-time highs, a supply squeeze seems more probable since the staking contract reached 8.2 million ETH.
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