Ethereum Valued More than McDonald's Despite $11 Million Liquidations
Barring the brief “Uptober” pump, the price of Ethereum has been consistently dipping. From a high of $1751, the asset’s value dropped to $1606 a day ago. Owing to the volatility in the Ether market, numerous positions in the derivatives market got liquidated. Data from Coinglass revealed that more than $11 million worth ETH positions had been wiped out over the past 24-hours. Around 80% of them were long trades [bullish bets]. Ethereum Liquidations | Source: Coinglass Also Read: Ethereum Transaction Cost Drops to $1 In fact, on the macro market cap rankings front, Ethereum slipped by 6 positions to occupy the 58th rank. Even so, it managed to stay significantly higher than McDonald’s. ETH and McDonald’s have always been quite competitive on the valuation front. They have flipped each other several times over the past year. At press time, there was a $12.1 billion gap between the market cap of Ethereum and McDonald’s. Ethereum vs. McDona...