ETH Short Liquidations May Send Ether Price to $3K
Ether (ETH) reached a 15-week high of $2,827 on June 10, nearing a monthly range breakout. A daily close above $2,700 would be the highest since February 24. An Ethereum whale sold 30,000 ETH for $82.76 million on June 10, securing a $7.3 million profit after a prior purchase of 30,000 ETH for $54.9 million on April 27. This whale has realized $31 million in profits within 44 days. Unique Ethereum addresses hit an all-time high of 17.4 million, with a 70.5% increase since Q2's start. Ethereum maintains a 61% share of the decentralized finance sector, totaling approximately $66 billion in total value locked. Concerns about sustainability arise due to only $43.3 million in fees over the last month. Ether's futures open interest surpassed $40 billion, indicating a leveraged market with potential volatility. Liquidation risks exist for $2 billion in long positions at $2,600 and $1.8 billion in shorts at $2,900.
