This indicates that $62,400 worth of long positions on Fantom $FTM were liquidated when the price dropped to $0.707.
This happened because traders who were betting on FTMs price increasing faced losses as the price fell.
Without enough funds to cover these losses their positions were automatically closed out or liquidated.
This forced liquidation can sometimes add downward pressure to the asset's price as these automatic sell-offs can further drive the price down.