Ethereum (ETH): Decline and Risks
Ethereum, which is usually a mainstay in the blockchain world, is again being affected by the shaky market. The current price of ethereum as of July 4, 2024 at 16:32 according to the Coinmarketcap website in the graph above is $3,166, with a trading volume of $19.34 billion in a day. It's true, it's only down 3% from yesterday, but if you look at the past month, it's already fallen 12%. Even so, there is still good news: compared to last year, prices are up 68%.
What makes traders dizzy is that in the last 24 hours there were $44 million in positions that were subject to liquidation. The most affected were long positions, up to $38 million sold out. Meanwhile, the short position was 'only' $5.70 million which was hit.
Situations like this make many people think again about Ethereum. Is it still okay for long-term investment? Or is it better to look for another coin that is more stable? For traders who already hold ETH, this is a dilemma: hold on or cut losses now?
What is clear is that the crypto market is indeed uncertain. For those who want to play on ETH, you have to be careful and don't just play big. It's very important to always update the latest information and don't forget, investing in crypto is high risk. So, think first before making a decision!
