Over the last 24 hours, the network experienced a liquidation exceeding $500 million, primarily impacting long positions. This significant financial event highlights the volatility within the network and its effects on traders. Liquidations occur when positions are forcibly closed to prevent further losses, which can lead to a cascade effect in the market. The recent high-value liquidations suggest a larger trend of risk management or potential market correction as traders react to changing conditions. The concentration on long positions indicates that many traders were betting on price increases, which ultimately did not materialize.
