$ETH
The data you provided indicates a liquidation event for a short position in Ethereum (ETH). Here’s a breakdown:
Amount Liquidated: $50,200
ETH Price at Liquidation: $2,914.75
When a short position is liquidated, it typically means that the price of the asset (in this case, ETH) has moved in the opposite direction of the short position, triggering the forced closure of the position to cover the losses. This could indicate that Ethereum's price rose sharply, causing the short seller to lose the bet on a price decline.
In this case, the price of $ETH reached $2,914.75, likely higher than the short seller's entry price, leading to a forced liquidation of their position at a significant loss. These kinds of liquidations can add volatility to the market, as it can lead to further buying or price swings.
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