ETH Breakthrough Could Unleash 649M in CEX Liquidations

According to recent data, if Ethereum (ETH) were to break through the $2,828 barrier, the total value of open positions on major cryptocurrency exchanges (CEX) would be subject to a massive liquidation event.

The cumulative amount at risk is estimated to be around 649 million USD. This figure takes into account the potential losses that traders and investors may incur if their long or short positions are automatically closed by the exchange due to market fluctuations.

It's worth noting that this calculation only accounts for the main CEX platforms, excluding smaller exchanges and alternative trading venues.