February 2 News, Ethereum (ETH) price fell below $2,195 on Monday evening, with a single-day decline of over 10%, marking the largest single-day pullback since October 2025. This drop directly triggered large-scale liquidations, and market sentiment quickly shifted to caution. Data shows that ETH’s current market capitalization is approximately $268.8 billion, accounting for about 10.5% of the entire cryptocurrency market, significantly down from its historical peak of $583.9 billion.
Trading activity has also increased, with Ethereum’s trading volume in the past 24 hours approaching $42.7 billion, nearly 30% of the total market volume. The price has fluctuated sharply between $2,195 and $2,322, with the market cap decreasing by over 22% in the past week. Compared to the all-time high of $4,956 set in August 2025, ETH is currently in a decline of over 55%.
Leverage traders have become the main victims of this round of decline. Statistics show that over $180 million worth of Ethereum-related positions were forcibly liquidated in the past 24 hours, with long positions making up the majority. As the price broke below the key support level of $2,200, margin shortages triggered chain reactions of selling, further amplifying the downward movement. On-chain data indicates that long-term holder addresses have not shown significant activity, and the selling pressure mainly comes from short-term and high-leverage funds.
Bloomberg analyst Mike McGlone pointed out that if macro uncertainties and high financing costs persist, Ethereum’s price could continue to approach the $2,000 or even $1,950 region. He believes that the $2,000 and $1,800 levels are important technical support zones; if these are broken, it could trigger a new round of liquidations.
Currently, the entire cryptocurrency market remains under pressure. The simultaneous weakness of Bitcoin has also increased ETH’s vulnerability. Traders are closely watching whether an oversold rebound or technical correction will occur; otherwise, there is still a risk of further downside in the short term.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana Outshines Ethereum, Achieving Over 5 Billion DEX Transactions in the Last 3 Months
Solana has surpassed Ethereum in transaction volume and active addresses over the past three months, achieving over 5 billion DEX transactions. Despite leading in these metrics, Ethereum retains a higher total value locked.
Coinpedia14m ago
Ethereum Price: Analyst Flashes Major ‘Buy’ Signal, Rally to $2,600 Soon?
March 16, 2026 8:15 pm EDT
TheCoinRepublic53m ago
USDC Treasury mints 100 million USDC on the Ethereum blockchain
Gate News reported that on March 17, according to Whale Alert monitoring, USDC Treasury minted 100 million USDC on the Ethereum chain.
GateNews1h ago
Sharplink staking rewards last week: 493 ETH, with cumulative staking rewards reaching 15,464 ETH
Gate News reported that on March 17, Sharplink announced that since launching its Ethereum vault, it has accumulated 15,464 ETH in staking rewards through staking, valued at approximately $36 million at current prices. Sharplink stated that it earned over 493 ETH through staking last week, generating approximately $1.1 million in returns. The project stated that its held ETH will continue to generate more ETH through staking.
GateNews1h ago
