$FTM The statement refers to a short position liquidation in Fantom cryptocurrency. Here's the breakdown

Amount Liquidated: $4.5834K (approximately 4,583.4 US dollars

Liquidation Price: $0.89415 per $FTM token.

In trading, a short position involves borrowing an asset (in this case, FTM) and selling it with the intention of buying it back at a lower price to make a profit. However, if the price of FTM rises instead of falling, the trader will face a loss.

The liquidation happened when the price of FTM reached $0.89415, meaning the price rose to this level, forcing the short position to be closed out. The liquidation closed the position and resulted in a loss of $4.5834K for the trader.

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