Ethereum falls below $ 3,000 because the liquidations reach $ 320 million

• The Ethereum Prize fell below $ 3,000 and has reached a low of $ 2,942 on Coinbase.
• The decline in the price of Ethereum comes at a time when the ETH spot ETFs in Hong Kong experienced a mild debut.
• The liquidations were $ 320 on the entire cryptom market, including over $ 96 million in ETH (including over $ 78 million in liquidated long positions).

Ethereum fell again to less than $ 3,000, since the wider cryptoma market suffers from downward pressure.

As Bitcoin on Tuesday again prices near $ 60,000 tested, the ETH price dropped and broke the psychological brand of $ 3,000.

On the KRYPTO exchange BISTAMP, ETH/USD reached low-levels of $ 2,945, while the second largest cryptocurrency on the US exchange Coinbase again reached $ 2,942.

ETH price weakness in the middle of important developments

The ETH is exposed to a new downward pressure in view of the decisive developments related to the ecosystem of this cryptocurrency and in the regulatory area. Last week, Consensys sued the US stock exchange supervision SEC (Securities and Exchange Commission) and accused the GROBE excessive exaggeration in its enforcement measures.

Consensys also wanted the court to declare ETH as a security, since the Sec ethereum has been regarded as a non-registered security for at least one year.

The Ethereum Prize, despite these developments, remained stable over $ 3,000, with the anticipation for the debut of Spot-Bitcoin and Ethereum ETFs in Hong Kong. On Tuesday, April 30th, the Spot ETFs of the ETH in Hong Kong did not correspond to the expected volume and assets.

at Ethereum are liquidated within 24 hours of over 96 million US dollars

While top ETF analysts say that the market size of Hong Kong indicates that the numbers are impressive, the market reaction is predominantly negative.

The result was massive liquidations on the entire market conglass data At the time of writing to over $ 320 million

Ethereum recorded the most liquidations during this period with over $ 96 million. Of this, more than $ 78.3 million in long positions and around $ 18.8 million are in short positions.

More than 108,601 dealers were liquidated within 24 hours, with the largest liquidation order recorded on the Bony exchange.

According to the data from Coingecko, the ETH price has dropped 6 % in the last 24 hours.