Ethereum Explodes to $4.2K, $200 Million Liquidated, Trump Rejoices

August 9, 2025

Ethereum has been the best performer amid the large-cap cryptocurrencies for the past 24 hours, wrapping up 7% gains in the interim and bringing its total weekly increase close to a whopping 20%.

At the time of this writing, ETH is trading at around $4,200.

ETHUSD_2025-08-09_09-04-11
Source: TradingView

The move marks a major feat in ETH’s price as the last time it was trading this high was in December 2021. That said, over the past 24 hours, the cryptocurrency accounted for the lion’s share of liquidations. Over $200 million were wiped out, $185 million of which were shorts.

Screenshot 2025-08-09 at 9.09.38
Source: Coinglass

Commenting on the matter was no other but Eric Trump, who said:

It puts a smile on my face to see ETH shorts get smoked today. Stop betting against BTC and ETH – you will be run over.

The rest of the market is also in the green, and many of the altcoins are charting considerable gains.

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About The Author

George Georgiev

Georgi Georgiev is CryptoPotato’s editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi’s passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn’t looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

 

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