Ethereum’s slide toward $2,500 has put about $1.35 billion of leveraged long positions at increasing risk of liquidation.

CoinMarketCap data showed roughly $1.35 billion of ETH long exposure sat at liquidation levels below the prevailing price, compared with about $999.78 million of shorts vulnerable above it. The figures represent positions exposed across a range of lower price levels rather than a single liquidation threshold.

The nearest pressure point is already approaching. About $112.83 million of ETH longs on Hyperliquid were positioned to liquidate around $2,511, CoinMarketCap said. When ETH traded at $2,605.65, the distance to that level had narrowed to about 3.6%, compared with a 7.4% cushion a day earlier.

The risk comes after ETH fell 5.9% over the last 24 hours to $2,570 as of press time, according to CryptoSlate's data, extending a break from the $2,700 area that had contained the token despite several days of institutional selling.

Available data shows that the latest price break triggered a sharp wave of forced closures before Ethereum has even reached the nearest major liquidation cluster.

CoinGlass data showed $233.36 million of ETH positions were liquidated over the last 24 hours, with long traders accounting for $221.87 million, or about 95% of the total.

Of this, roughly $226.22 million was wiped out over 12 hours, including $216.11 million of long exposure.

Notably, Ethereum also accounted for the largest single liquidation across the broader crypto market, with a $26.64 million ETHUSDC position on Binance forced closed.

The scale of those losses makes the remaining liquidation map more consequential.

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