Ethereum (Eth) broke above $4,000 for the first time since December 2024, meeting expectations for an ongoing rally. Over $24 million was liquidated from the short position in just an hour.
Ethereum (ETH) broke the long-awaited barrier for the first time since December 7, 2024, causing more than $24 million in a short liquidation. ETH also led the 24-hour liquidation, eliminating its $119 million short position.
Following the recent liquidation, ETH’s open profits remained at 26.65B, close to its three-year peak. Over the past 24 hours, open interest has increased by around 6.8%, with the long accumulated positions exceeding $3,850.
ETH has exceeded 62% in the last three months, with the largest climbing commenced in July. Token rose to $4,001.13 gate.ioalmost all of the exchanges cost just under $4,000. Binance data It showed ETH climbs easily above $4,012.
In high lipids, short liquidation shifted the balance of position. For a long time, 29,307 traders have shorted the tokens by only 14,332 traders at ETH. High lipids and maximum ETH short positions have nominal values $339.16Mwhich had exceeded $305 million underwater during the latest price expansion.
ETH reflected emotional changes
Over the past few weeks, ETH has moved to a mixture of peak spot demand from Whalerecords open interest in the derivatives market. The mix led to accelerating rally after months of stagnant prices. ETH rose to 0.033 BTC, accelerating faster than the major coins. After the latest rally, ETH domination returned to 12.1%, raising hopes for the Altcoin season.
A very quick meeting meant that market sentiment experienced an abnormality. Crowd money is very bullish, but smart money has it I’ve become weak. However, attempts to shorten ETH are also a major factor behind price expansion.
Over 95% of traders are profiting in this price range, with little pressure on selling. Whales already have established a lower baseline price, and ETH is expected to expand the rally to a higher range and reflect the usefulness of the chain.
and $ eth It reached $4,000 for the first time since December 2024, with 95% of chain holders benefiting. pic.twitter.com/aferodmwal
– cryptorank.io (@cryptorrank_io) August 8, 2025
Based on Kaito data, the current ETH rally also occurs most frequently Positive emotions For the past 12 months. The rally arrived shortly after the ETH had soaked as low as $1,400, but the whales were relocated at a low cost.
Recent rallys have to try new all-time highs and break resistance above $4,000 to meet its short-term $5,000 forecast.
Eth Price Rally boosts Defi
The total locked value on Ethereum is at a level not seen since early 2022, and is over $86 billion for various protocols. Currently, lending is more mature, with a liquidity position of $997 per ETH.
Increased demand for lending will boost ETH purchases and bring greater potential gatherings. Currently, buyers far outweigh new weekly ETH productions, with more tokens being held closely at the accumulation address. ETH rarely seeps into, envelops, or leaves the ecosystem.
A larger priced gathering may mean that ETH will try to beat Defi Records from 2021. Since the bull market in 2021, ETH has recovered more than eight times the $4,000, and later broken down into a low range. The latest gatherings are sparking hope for continuous expansion.
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