Ether (ETH) Falls 1.24% in an Hour to $2,445 as Long Liquidations Hit $4.59M

Ether (ETH) fell 1.24% in one hour to $2,445 at 11:20 a.m. ET (15:20 UTC) Friday, Oct. 16; the Binance spot ETH/USDT quote was $2,476 one hour earlier. The exchange quote stood at $2,476 one hour earlier. Ether was up 0.78% over the previous 24 hours at the same snapshot.

Ether liquidations across Binance, Bybit and OKX totaled $4.59 million in long positions and $180,000 in short positions during that hour. Long positions are trades that benefit when an asset rises in price, while short positions benefit when it falls. The long-side total far exceeded the short-side figure.

Ether ranked second among crypto assets by market capitalization, at about $298,154,940,000. The price reading came from Binance's spot ETH/USDT market; the liquidation tally covered Binance, Bybit and OKX. The readings cover different windows: one hour for the drop and liquidations, and 24 hours for the broader price comparison.