This refers to a long liquidation involving $LPT the native token of the network. Here's the breakdown of the details

$1.1474K likely refers to $1,147.40 (1.1474 thousand dollars which is the value of the position that was liquidated

$14.94 represents the liquidation price, which is the price at which the long position was closed out

What happened

A long liquidation occurs when a trader holds a position with the expectation that the price of an asset will rise. However, if the price of the asset falls significantly, the trader may be forced to close liquidate their position to prevent further losses, typically due to margin requirements or automated risk management protocols

In this case

The trader had a long position on $LPT, expecting its price to increase.

When the price of $LPT dropped to $14.94, the position was liquidated, meaning the trader had to close their position at a loss because they couldn't maintain the margin requirements to hold the position open.

Long liquidations often occur when there is significant downward price movement, and the trader cannot meet margin calls or risk thresholds

If you want more details about $LPT or long liquidations, feel free to ask

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