Ethereum (ETH), the second-largest cryptocurrency by market capitalization, traded near $2,337 on Saturday, October 24, 2026, down about 2.5% over 24 hours. The decline forced the closure of $184.41 million in leveraged ETH positions, yet the value of open ETH perpetual futures contracts held near $44.26 billion. The gap between the two figures suggests that the latest sell-off removed only a small fraction of the leverage built into the Ethereum market.
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ETH Price Today: Key Numbers
Ethereum traded in a 24-hour range of $2,286.76 to $2,402.36, according to CoinGecko, a cryptocurrency data aggregator. The token dropped sharply toward the session low late in the day before recovering to the $2,330 to $2,340 area.
ETH’s market capitalization, calculated by multiplying the price by the number of coins in circulation, stood near $285.3 billion. Its fully diluted valuation (FDV), which measures value based on total supply, matched that figure because all existing ETH is already in circulation. Circulating supply was listed at 122.158 million ETH, while 24-hour trading volume reached approximately $9.75 billion.
$184 Million Liquidated, but Leverage Largely Intact
A liquidation occurs when an exchange automatically closes a leveraged position because the trader’s losses have exceeded their deposited collateral. A long position is a bet that the price will rise.
ETH accounted for $184.41 million in liquidations over 24 hours, according to CoinGlass, a crypto derivatives data platform. Long positions made up 90.4% of that total, or roughly $166.7 million, while short positions accounted for about $17.7 million. The largest single liquidation was an $11.85 million long position on the ETHUSDT pair on crypto exchange Binance, executed near $2,307.65. ETHUSDT is a contract that prices ETH against Tether (USDT), a stablecoin pegged to the U.S. dollar.
The figure is nearly double the $93.12 million in ETH liquidations recorded on October 22.
Even so, open interest tells a different story. Open interest measures the total value of derivatives contracts that remain open and unsettled. ETH perpetual futures, which are derivatives contracts with no expiry date that let traders take leveraged positions, held open interest of about $44.26 billion.
Measured against that base, Saturday’s liquidations cleared only about 0.42% of outstanding positions. Open interest is also equal to about 15.5% of Ethereum’s market capitalization and roughly 4.5 times its daily trading volume. High open interest relative to spot activity means price moves can be amplified in either direction, because forced closures add buying or selling pressure on top of regular trading.
ETH Breaks Earlier Support Levels
The latest drop extends a weak week for Ethereum. On October 23, The Crypto Times identified $2,372 as the nearest support for ETH after the token traded between $2,372.55 and $2,430.24. Saturday’s move took the price below that level.
The session low of $2,286.76 also briefly fell below $2,313, the level The Crypto Times earlier flagged as a daily close threshold that could expose ETH to further losses. The recovery to $2,337 left the price about 2.2% above the session low and about 2.7% below the session high.
ETH Took an Outsized Share of Market Liquidations
Total crypto liquidations reached $732.36 million in the same CoinGlass snapshot, with long positions accounting for 88.9%, or $650.92 million. Around 156,500 traders were liquidated, and Binance accounted for about half of the total.
Bitcoin (BTC), the largest cryptocurrency, led with $235 million in liquidations, 92.4% of which were longs. ETH followed closely and accounted for about 25% of all liquidations. That share is well above Ethereum’s weight in the overall market, which stood at about 10.3% of total crypto market value on October 23, according to CoinGecko data. Later readings of the rolling 24-hour window showed total liquidations climbing above $820 million.
Corporate Treasuries Hold 6.6% of ETH Supply
Outside derivatives markets, public companies and other entities hold roughly 8.12 million ETH, according to CoinGecko’s treasury tracker. That’s about 6.6% of the circulating supply and worth roughly $19 billion at current prices. These holdings form part of Ethereum’s longer-term ownership base, while derivatives activity continues to shape short-term price moves.
What to Watch Next for Ethereum Price
The $2,287 session low is the immediate level to watch. A break below it would put more leveraged long positions at risk, given that open interest remains near $44 billion. On the upside, a recovery above $2,400 would put ETH back above Friday’s breakdown area and reduce the near-term risk of further forced selling.
Traders will also watch whether open interest declines in the coming sessions. A meaningful drop would indicate that leverage is being reduced, while a stable or rising figure would suggest the market remains exposed to further liquidation-driven volatility.
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