"ETH Faces $127M On-Chain Liquidations Amid Crypto Market Plunge"

ETH, the second-largest cryptocurrency by market capitalization, is facing potential on-chain liquidations worth approximately $127.3 million at the current price of $1919.49, according to data from DefiLlama.

This development comes amidst a broader market downturn, with the crypto market losing over $100 billion in value. The U.S. pre-market session saw a plunge, with seven tech giants losing over $500 billion in market capitalization.

The bull-bear sentiment divide has become severe, raising questions about the longevity of the crypto bull market. Despite the market conditions, some investors are still seeking high-yield opportunities, with average ROI reaching 400% on certain crypto IDO platforms.

As the market continues to evolve, investors and traders should remain vigilant and monitor the situation closely. The potential for on-chain liquidations at current price levels serves as a reminder of the volatility and risks associated with the crypto market.