$ENS Liquidation Shockwave: $1.6K Wiped Out at $34.579!
Ethereum Name Service (ENS) sent ripples through the crypto world as $1.601K in long positions was liquidated at $34.579, stunning traders who were betting on its rise.
Just like that, the market flipped, crushing bulls in its path!
Key ENS Stats:
Current Price: $34.79 (-2.65% in the last 24 hours).
Intraday High: $36.50 | Low: $33.60.
24-Hour Trading Volume: An impressive $170.36 million, showing strong market movement.
Market Cap: $1.19 billion, making ENS one of the top tokens in the DeFi space.
Why Did This Happen?
The liquidation event reflects the harsh realities of crypto trading, especially when leveraging positions.
Long traders were caught by surprise as ENS dipped below $34.60, triggering mass liquidations and sending prices lower.
$ENS : The Future of Digital Identity
Despite today’s shock, ENS continues to hold immense value:
Decentralized Domain Services: ENS provides blockchain-based domain names, powering decentralized websites.
Growing Ecosystem: As DeFi and NFTs expand, ENS plays a critical role in the future of Web3.
Crypto Alert:
This liquidation is a prime example of how fast the market can turn.
Traders need to stay sharp and manage their risks carefully, as crypto remains one of the most volatile assets around.
Will
$ENS recover and soar again, or will this be a warning shot to those playing with fire?
The next move could be yours.
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