Ethereum has seen significant liquidations, exceeding $294 million, as its price nears an all-time high. Over the last 24 hours, more than $250 million in ETH short positions were liquidated, making short positions account for nearly half of all liquidations in the crypto market. The price of ETH approached $4,700, reflecting a strong upward trend. This surge follows a period of low performance, catalyzed by increased institutional interest and regulatory developments in the U.S. Ethereum now represents a crucial part of several corporate treasuries, impacting its supply dynamics. This increase in demand from institutions is driving speculation and liquidity in the market, contributing to its gains over 50% since early August. As Ethereum approaches its previous ATH of $4,878 set in late 2021, more than 80% of traders anticipate further price increases. The broader crypto market also reflected this volatility with a total of $532 million in liquidations, dominated by Ethereum volatility.

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