{"id":15067,"date":"2025-04-08T15:29:33","date_gmt":"2025-04-08T15:29:33","guid":{"rendered":"https:\/\/www.briskmarkets.com\/blog\/?p=15067"},"modified":"2025-04-08T15:29:33","modified_gmt":"2025-04-08T15:29:33","slug":"ethereum-rebounds-after-major-losses-amid-wide-liquidation","status":"publish","type":"post","link":"https:\/\/briskmarkets.com\/blog\/ethereum-rebounds-after-major-losses-amid-wide-liquidation\/","title":{"rendered":"Ethereum rebounds after major losses amid wide liquidation"},"content":{"rendered":"\n

The price of Ethereum (ETH) rebounded to around $1,550, recording gains of nearly 10% in the past 24 hours, after briefly touching a two-year low of $1,410 earlier this week. This rebound gives a glimmer of hope to investors who have seen Ethereum’s sharp collapse of 27% in 48 hours, leading to significant market liquidations and losses for investors.<\/p>\n\n\n\n

With Coinglass data indicating that around $370 million in leveraged Ethereum futures sold in just two days, the recent price drop has rocked Ethereum derivatives markets. According to Santiment statistics, short-term investors led the sell-off after incurring losses of nearly $500 million on Monday alone.<\/p>\n\n\n\n

Sky (formerly known as Maker) has liquidated massive guarantees worth 53,074 Ethereums worth approximately $74 million, among other fairly notable liquidations. On Monday, lending platform AAAVE reported the presence of refinery guarantees worth approximately $162 million, underscoring the widespread impact of lower prices<\/a> on the decentralized finance network.<\/p>\n\n\n\n

DeFi liquidation risks could amplify price movements<\/strong><\/h3>\n\n\n\n

Potential deFi liquidations are putting more pressure on the Ethereum ecosystem. Among the cases we observe in particular is a whale with 220,000 Ethereum in collateral, which recently contributed 10,000 Ethereum and 3.52 million DAI to reduce its liquidation price to $1,119. If Ethereum falls below this level, the whale risks losing all its collateral, raising additional selling pressure.<\/p>\n\n\n\n

Professional traders show resilience despite weak market<\/strong><\/h3>\n\n\n\n

Professional traders have not completely lost hope even with severe price corrections. Derivatives data suggests that although sentiment is pessimistic, it has not descended to the usual panic levels at market lows. Although ETH options are still well below the 20% highs recorded during previous strong declines, their deviation shows a negative trend.<\/p>\n\n\n\n

Ethereum rises amid economic challenges<\/strong><\/h2>\n\n\n\n

The cryptocurrency market has seen a significant rise, with Ethereum (ETH) rebounding to around $1,550 on Tuesday, recording a rise of almost 10% in the past 24 hours.<\/p>\n\n\n\n

The rise follows a sharp drop to a two-year low of $1,410 earlier in the week, as Ethereum suffered a sharp 27% collapse in just 48 hours.<\/p>\n\n\n\n

This recovery provides a necessary break for investors who have endured the brunt of liquidation and significant losses during the turbulent period.<\/p>\n\n\n\n

Ethereum metrics on chain show latent power<\/strong><\/h3>\n\n\n\n

On the plus side, the architecture of the Ethereum network proves its durability. On April 6, the total closed value (TVL) of the Ethereum network peaked at 30.2 million ETH, an increase of 22% from last month. During the same period, this increase exceeded competitors such as Solana (an increase of 12%) and the BNB series (16% increase).<\/p>\n\n\n\n

However, investors should be aware that the price of Ethereum is still down 67.45% from its all-time high of $4,864.06 hit in November 2021, underscoring the need for a significant recovery to restore previous peaks.<\/p>\n\n\n\n

Macroeconomic factors and development delays weigh on sentiment<\/strong><\/h3>\n\n\n\n

However, general macroeconomic issues, such as global trade tensions and concern about the Federal Reserve’s monetary policies, significantly affect the price movement of Ethereum. Although US President Donald Trump has urged interest rate cuts, Federal Reserve Chairman Jerome Powell has remained cautious about inflation potential, casting uncertainty over risky asset markets.<\/p>\n\n\n\n

Further complicating Ethereum, developers recently postponed Pictra’s expected upgrade from April to May 7 without providing any clear explanation. This applies even with the success of the Hoodie pilot network upgrade on March 26, which could raise market uncertainty.<\/p>\n\n\n\n

Standard Chartered expects to surpass XRP for<\/strong> Ethereum<\/strong> by 2028<\/strong><\/h2>\n\n\n\n

Standard Chartered Bank predicted on Tuesday that the market capitalization of XRP (XRP\/USD) will surpass that of Ethereum (ETH\/USD) by the end of 2028, making XRP the second largest unstable cryptocurrency.<\/p>\n\n\n\n

What happened: This bold prediction, made by Jeffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, highlights XRP’s growing role in cross-border payments amid changing market dynamics.<\/p>\n\n\n\n

The announcement coincides with the New York Stock Exchange’s approval of a new leveraged XRP ETF, indicating growing interest in the cryptocurrency.<\/p>\n\n\n\n

In a memo published with Benzenga, Kendrick emphasized XRP’s ability to outperform Ethereum over the next few years.<\/p>\n\n\n\n

“By the end of 2028, we will see XRP’s market capitalization exceed Ethereum,” Kendrick wrote, attributing this shift to XRP’s core utility as a platform for cross-border and currency payments.<\/p>\n\n\n\n

He pointed out that this segment of the digital asset market is witnessing a steady increase in transaction volume, a trend that Standard Chartered expects to continue, boosting the value of XRP.<\/p>\n\n\n\n

Kendrick’s analysis places XRP alongside Bitcoin and Avalanche as the top performing cryptocurrencies in the digital asset space, while Ethereum ranks as a relatively poor performer.<\/p>\n\n\n\n

“The primary use of XRP is as a platform for cross-border and currency payments,” Kendrick added, emphasizing its practical application as a key driver of its projected growth.<\/p>\n\n\n\n

He added that Bitcoin’s resilience during recent market turmoil, including global tariff concerns, points to a broader upward trajectory for cryptocurrencies, and XRP is expected to benefit significantly.<\/p>\n\n\n\n

Unlike spot ETFs, this one does not hold Ripple directly, but rather tracks its daily movements, providing investors with an alternative entry point for the asset’s price movement.<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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