Ethereum Gains Over 5% as Bitcoin Rally Spurs Market Momentum
As Bitcoin hit a high above $71,000 for the first time since June, Ethereum also enjoyed a surge, climbing over 5% in 24 hours to trade at around $2,618 on October 29. With a fully diluted valuation around $315 billion and an average daily trading volume of $23 billion, Ethereum has caught the attention of investors, contributing to nearly $40 million in liquidations in the leveraged market. Notably, 81% of these liquidations involved short trades, highlighting intensified bullish momentum.