Binance Records $3.01 Million Single Ether Short Liquidation

A $3.01 million short position in Ether (ETH) was liquidated in a single event on Binance at $2,537 at 1:23 a.m. ET (05:23 UTC) on Oct. 13. The liquidation involved an ETH perpetual futures contract, which has no expiration date. The figure was recorded through direct collection of Binance’s public liquidation data. A short position profits when an asset’s price falls. Liquidation occurs when the exchange forcibly closes the position after losses reach the required margin threshold. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

Source: TokenPost