Ethereum's price fluctuations could lead to substantial liquidation events on major centralized exchanges. According to ChainCatcher, data from Coinglass indicates that if Ethereum's price falls below $2,210, the cumulative liquidation intensity for long positions on mainstream centralized exchanges will reach $1.389 billion. Conversely, if Ethereum's price surpasses $2,441, the cumulative liquidation intensity for short positions will amount to $1.061 billion.