$20B Wiped Out, But ETH Holds Ground

[kevin1]

Friday marked the largest liquidation event in crypto history, with nearly 1.6M traders liquidated and over $20 billion erased in 24 hours, according to CoinGlass.

Investor Sassal commented:
“BTC and ETH did relatively well compared to the long-tail of alts, which nuked 70% or more, with some even down 95%. Clearly this was not normal market behavior.”

Despite the carnage, ETH’s resilience has investors debating whether the next leg could push toward $5,500.

[Abdul Khan]

Despite massive losses across the market, ETH’s ability to stay above key support levels is impressive.

[Nahid Hossen]

Ethereum proving resilience once again — fundamentals are holding even as broader markets panic.