If Ethereum falls below $2,900, the cumulative liquidation intensity of long positions on mainstream CEXs will reach $395 million

2025-12-29 by admin

BlockBeats News, December 29: According to Coinglass data, if Ethereum falls below $2,900, the cumulative long position liquidation intensity on major CEXs will reach $395 million.

Conversely, if Ethereum breaks above $3,000, the cumulative short position liquidation intensity on major CEXs will reach $497 million.

BlockBeats Note: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of liquidated contracts. The bars on the liquidation chart actually represent the relative importance, or intensity, of each liquidation cluster compared to neighboring clusters.

Therefore, the liquidation chart illustrates the extent to which the underlying price reaching a certain level will be affected. A higher “liquidation bar” indicates that once the price reaches that point, there will be a stronger reaction due to liquidity waves.

BlockBeats News, December 29 – According to a report by Cointelegraph, a proposal in California to impose a 5% tax on billionaires' wealth has faced strong opposition from cryptocurrency executives. They argue that it would trigger an exodus of entrepreneurs, capital flight, and ultimately be wasted regardless.The proposal, named the '2026 Billionaire Tax Act,' aims to introduce a ballot measure that would levy a 5% tax on individuals or entities with a net worth exceeding $1 billion to fund healthcare systems and state assistance programs. According to SEIU United Healthcare Workers West, because this proposed wealth tax partially targets unrealized gains, some billionaires may need to sell stocks or parts of their businesses to raise funds for tax payments. The tax can be paid in a lump sum or spread over five years with interest.Industry veterans in the cryptocurrency sector, including Bitwise CEO Hunter Horsley and Kraken co-founder Jesse Powell, believe that this measure would only lead to billionaires leaving the state, resulting in negative consequences.