Crypto Market Shaken by $584M Liquidation, Pepeto Presale Sees Surge

A recent wave of liquidations in the cryptocurrency market has shaken out weak hands, leaving room for winners who entered during fear. Over $584 million in crypto long positions were wiped out on May 17 after Bitcoin dropped below $77,000 and geopolitical tensions pushed the Fear and Greed Index to a low of 29.

The liquidation had a significant impact on Ethereum (ETH), with over $257 million in longs erased. However, despite this setback, forecasters still see ETH ending the year between $4,500 and $7,500, giving holders a potential 2x to 3x gain from today's price.

XRP, on the other hand, has seen more modest losses, with its price sitting near $1.37. Ripple is expanding its services in Latin America, but investors may need to wait for returns that presale pricing delivers faster.