Ether's price has surged to a 15-week high of $2,827 as of June 10, 2025, prompting speculation about potential short liquidations pushing it above $3,000. The open interest in ETH futures has reached a record $40 billion, reflecting a high level of market leverage. A notable Ethereum whale recently executed two significant trades, netting $31 million in profits within 44 days. The Ethereum network has also seen a sharp increase in unique addresses, rising by 70% in Q2, underscoring strong activity growth, particularly on the Base network. Despite this, there are concerns regarding sustainability, as fees over the past month totaled only $43.3 million. Currently, there is $1.8 billion in short positions at risk of liquidation if ETH crosses $2,900, suggesting a volatile trading environment. Market dynamics remain balanced with a total of $2 billion in long positions facing liquidation at $2,600, adding uncertainty to future price movements.

Source 🔗