Ether Suffers Sharp 1.91% Price Drop to $2,663 Amid Hefty Long Liquidations

Ether experienced a significant price drop on September 23rd, falling 1.91% in just one hour to $2,663 in Binance's spot ETH/USDT market.

The sharp decline occurred at 10:29 a.m. ET (14:29 UTC), down from its previous value of $2,715.

Long liquidations on major exchanges like Binance, Bybit, and OKX reached an alarming $43.19 million during the same hour, while short positions experienced losses totaling $690,000.

This sudden downturn has no doubt sent shockwaves throughout the crypto market, but Ether remains the second-largest cryptocurrency by market capitalization, boasting a value of approximately $331.47301 billion.