Ethereum’s Massive Price Crash Triggers Investor Panic

Ethereum (ETH) experienced a sharp decline of over 20% in the past day, triggering widespread panic among investors.

Bitcoin (BTC) and XRP also saw significant drops of 12% and 14%, respectively, reflecting a broader market downturn.

The sell-off was partly driven by Jump Trading moving a large amount of staked ETH to centralized exchanges, alongside global market volatility.

According to Spot on Chain, Jump Trading transferred 17,576 ETH, worth around $46.78 million, in the past 24 hours. Since late July, they have moved roughly 90,000 ETH to exchanges and still hold significant amounts in staked and wrapped forms.

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Crypto Market Slump Has Left Traders With Millions of Dollars in Losses

ETH’s price has fallen by 31% over the last week and 39% over the past two months, now trading at about $2,322. Trading volume surged by 234% to $53.6 billion as the price approached $2,100, with gas fees spiking.

Around $350 million in long positions were liquidated in the past day, showing a sudden shift in trader sentiment. Ethereum’s total value locked (TVL) dropped by 17.7% in one day to $43.66 billion, with Lido’s TVL alone decreasing by 20% overnight to $22.85 billion.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.