Ethereum news today is led by the scale of forced selling. About $356 million in ETH positions were liquidated over 24 hours, compared with about $298 million in Bitcoin positions. After adjusting for each asset’s market value, the ETH liquidation rate was roughly six times BTC’s. It was a striking sign of how heavily leveraged Ethereum traders had become as the wider crypto market turned lower.
Remittix has a different milestone in focus before its planned November 24 debut. It has an available iOS wallet, a live Markets platform and 1,000 existing holders invited to test PayFi. The selling in ETH puts risk appetite under scrutiny; RTX buyers are watching whether a smaller financial ecosystem can build a recurring audience before it reaches exchanges.
Ethereum News Today: Why the Six-Times Rate Matters
October 9 market figures put total crypto liquidations near $1.19 billion, with more than $1 billion from bullish positions. ETH’s dollar liquidation total exceeded BTC’s, even though Bitcoin’s market value was much larger. The six-times comparison measures the losses relative to each asset’s size, not six times as many dollars liquidated.
Forced closures can drive a rapid decline, and ETH fell toward $2,490 during the flush. The network still has a deep DeFi base, staking and ongoing scaling work, including Glamsterdam testing. For ETH price to recover, traders will want to see spot demand return after leveraged positions clear. Technical progress can strengthen the longer-term case while the near-term market deals with its own pressures.
Remittix Pursues Usage Across Trading and Payments
Remittix PayFi is designed to convert supported crypto into fiat through compatible bank routes. One thousand existing RTX holders have been invited to test EUR and USD options. A person paid internationally may need a transfer every month, which gives the service a recurring customer task independent of a particular trading day.
The Remittix platform includes an iOS wallet with over 10,000 reported downloads and live Markets with more than $50 million in cumulative trading volume. Earn is approaching release. Markets activity can introduce traders to the app, and PayFi can give them a route to local money when needed. Those connected steps are the larger business proposition.
Perpetual trading is a major onchain category, and global remittances involve vast repeat flows. If Remittix can earn a small share of either and keep customers active, the project could grow well beyond its first community. RTX is intended for settlement and staking roles, making customer activity relevant to its longer-term token case.
A Market Reset and the RTX Debut
ETH traders need to see buying after the liquidation wave. Remittix reports more than 40,000 presale participants, over $32 million raised toward a $36 million hard cap and a planned $0.46 final presale tier before November 24. Its payment test gives buyers a product milestone to follow through the market volatility.
Review Remittix’s current RTX allocation while Ethereum searches for footing. If early wallet owners, traders and PayFi testers begin using the platform repeatedly, the launch could draw attention to a business with several routes to growth.
Explore RTX: Remittix website | X
Frequently Asked Questions
Were Ethereum liquidations six times Bitcoin’s in dollars? No. The six-times figure compares the liquidation rate relative to each token’s market value.
How much was liquidated in ETH positions? Around $356 million over the cited 24-hour window.
What Remittix products are available ahead of RTX trading? Its iOS wallet and Markets platform are available, with PayFi in invited testing.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry risk, including total loss of capital.
All market analysis and token data are for informational purposes only and do not constitute financial advice. Readers should conduct independent research and consult licensed advisors before investing.
Crypto Press Release Distribution by BTCPressWire.com
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