ETH Price Skyrockets to a Monthly High as Over $150 Million Liquidated

The price of Ethereum surged to a monthly high in a massive hourly candle, leaving over $150 million liquidated.

The price of ETH has shot up in the past couple of hours, reaching around $1420. This happens on the next day after developers confirmed that the ETH 2.0 merge will take place in September.

• Over $150 million has been liquidated in ETH positions over the past 4 hours, according to Coinglass.
• It was on FTX the largest single liquidation order took place, and its face value carries an amount of $2.81 million.
• On Binance, ETH hits a skyhigh of $1422 after exploding by 7% in a single hourly candle. 
• Over $300 million has been traded on that candle. 
• ETH was last trading at these prices back on June 13th, meaning that the cryptocurrency charted a monthly high at this price point. 

• Ethereum has peaked over 10% over the past 24 hours and a staggering of 40% in the past 48 hours. 
• As stated previously, there is no coincidence that the increase came a day after the developers confirmed that the ETH 2.0 merge is on track to happen in September.