Ether Falls 4.27% in Four Hours to $2,418 as Long Liquidations Hit $20.15M

Ether (ETH) fell 4.27% in four hours to $2,418 at 8:09 p.m. ET Monday (Oct. 12, 00:09 UTC Tuesday), based on TokenPost’s direct collection of public exchange prices.

The price dropped from $2,526 four hours earlier on Binance’s spot ETH/USDT market. Ether was down 4.70% over the previous 24 hours.

Liquidations across Binance, Bybit and OKX totaled $20.15 million in long positions and $90,000 in short positions during the same one-hour period. Long liquidations occur when leveraged bets on a price increase are forcibly closed after the market moves lower.

Ether is the second-largest crypto asset by market capitalization, with a market value of about $298.58758 billion in the supplied market data.