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Ethereum declines further as liquidations surpass those of Bitcoin

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Ethereum (ETH) experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs.

While a few whales are dumping ETH following its recent price decline, exchange supply data shows most investors are bullish. Hong Kong spot Bitcoin and Ethereum ETFs underperform issuers' expectations on the first day of trading. Ethereum liquidations have exceeded those of Bitcoin. Ethereum experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs.

Following ETH's further decline on Tuesday, its liquidations have exceeded Bitcoin's for the second consecutive day on Tuesday. Ethereum has seen a total of $91.76 million in liquidations compared to Bitcoin's $68.51 million. The market decline is hitting hard on ETH long traders, who have experienced $73.62 million in liquidations.

 

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