$100 Million Worth of ETH Shorts Obliterated as Top Altcoin Approaches $4,000

According to data provided by CoinGlass, a total of $100.6 million worth of Ethereum (ETH) shorts have been liquidated over the past 24 hours.

Earlier this Sunday, ETH reached a new year-to-date peak of $3,825 on the Coinbase exchange. The altcoin has now managed to top the $3,800 level for the first time since December 2024.

The most popular altcoin has soared by more than 50% within just two weeks.

The ETH/BTC pair has now reached 0.031 BTC, the highest level since January.

However, it is worth noting that ETH is still 23.2% from reclaiming its current all-time high of $4,878 that was achieved more than three years ago.