It all seems to be going Ethereum\u2019s way for the past few months, as the asset has notched another impressive daily run that has taken it to a new multi-year peak.<\/p>\n
On its way up, ETH has left bears in disbelief as the total value of liquidated shorts has skyrocketed to over $250 million on a 24-hour scale.<\/p>\n It\u2019s hard to believe that just four months ago \u2013 in April \u2013 the second-largest cryptocurrency struggled to remain above $1,500. It had plunged<\/a> to its yearly lows during the darkest hours of Trump\u2019s trade war against essentially all other countries.<\/p>\n However, the subsequent recovery has been more than impressive, especially the performance since the beginning of July. At the time, ETH stood below $2,500 but exploded by more than $2,000 in the following month, which culminated (for now) at just over $4,700 hours ago reached earlier today.<\/p>\n This meant that Ethereum had added almost 250% since its yearly low at roughly $1,400 marked in April. Consequently, today\u2019s pump to $4,720 meant that it had come just 3.3% away from charting a new all-time high ($4,878, according to CoinGecko).<\/p>\n This massive price surge comes on the heels of substantial inflows<\/a> toward the spot Ethereum ETFs in the US, as well as multiple companies launching ETH treasury strategies and accumulating sizeable portions of the asset.<\/p>\n Interestingly, though, reports<\/a> keep claiming that retail investors continue to dispose of their assets, while institutions are ramping up their buying efforts.<\/p>\n It\u2019s worth noting that today\u2019s surge has resulted in tons of liquidations, especially from short traders. Data from CoinGlass shows that more than $250 million worth of shorts have been wiped out in the past 24 hours. And that\u2019s all for Ethereum. The overall liquidations are close to $500 million, meaning that ETH is responsible for more than 50%.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n![\"Liquidation](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/ETHUSD-1.png\")
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