Binance Liquidates $6.97 Million Ether Long Position at $2,322

Binance’s Ether (ETH) perpetual futures market liquidated a single $6.97 million long position at 7:27 p.m. ET Oct. 25 (23:27 UTC), with the liquidation recorded at $2,322. One $6.97 million long position was liquidated on Binance’s Ether perpetual futures market at a liquidation price of $2,322. Those figures describe the size and liquidation price for this single position, not a combined total across multiple liquidations. A long position is structured to benefit when an asset’s price rises, while a liquidation is a forced closing of an open position. The event’s timestamp was 8:27 a.m. KST on Oct. 26, which converts to 7:27 p.m. ET on Oct. 25 (23:27 UTC). Binance was the venue, and Ether perpetual futures was the contract. Enna Lee reports on investing and digital-asset markets for TokenPost.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.