$GALA Liquidated Long: $80.4K at $0.0346
(Red Indicator)
: Indicates a liquidation, specifically a long position liquidation.
This suggests that a trader or traders were betting on the price of $GALA increasing, but the price dropped instead.
$GALA : The cryptocurrency related to the Gala ecosystem, primarily focused on blockchain gaming and NFTs.
Liquidated Long: A long position (betting the price will go up) was forcibly closed due to the price falling below the liquidation price, causing the collateral to be insufficient to maintain the position.
$80.4K: The total dollar value of the long positions liquidated.
$0.0346: The price of GALA at which the liquidation occurred. This indicates that the liquidation threshold for these positions was reached when GALA's price dropped to $0.0346.
This data typically suggests significant selling pressure or market volatility in GALA.