Ethereum Nears All-Time High Amid $340M Liquidations, $1B+ On-Chain Assets

The cryptocurrency market recently witnessed significant volatility marked by massive liquidations and sharp price movements. Ethereum (ETH) nearly reached its all-time high, triggering over $340 million in liquidations predominantly from short traders, highlighting strong buying pressure and institutional confidence in Ethereum-based real-world asset (RWA) tokens like $TRWA, which experienced a 25% bounce. This resilience contrasts with the riskier environment of Solana, with Ethereum's on-chain data showing increased transaction volumes and growing investor interest in stable, high-potential assets. Concurrently, the market experienced a sudden crypto futures liquidation event with $420 million liquidated over 24 hours, escalating volatility through cascading forced sell-offs. Bitcoin (BTC) also rebounded sharply following Federal Reserve Chairman Jerome Powell's dovish speech hinting at potential rate cuts, with BTC rising 2.6% and $375 million in crypto derivatives liquidations occurring, mostly among short positions. These developments underscore a cautiously optimistic crypto market influenced by macroeconomic signals and robust interest in Ethereum's evolving on-chain ecosystem.