Ethereum's recent surge past $4,800 resulted in approximately $388 million in liquidations, the largest of any cryptocurrency in the preceding 24 hours. The overall market experienced liquidations totaling $769 million, affecting over 183,000 traders. The most significant single loss was a $10 million ETH swap on OKX. This market flush serves as a reminder of the volatility present in crypto trading, particularly when leveraging positions. The increase in Ethereum's price, reaching a new all-time high of $4,885, followed comments from Federal Reserve Chair Jerome Powell about potential interest rate cuts. Analysts attribute the rally not only to macroeconomic conditions but also to growing institutional interest in Ethereum as a leading blockchain for stablecoins and smart contracts, with the price of ETH gaining 45% year-to-date. Some experts now express optimism that ETH could hit the $10,000 mark as adoption increases.

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