The information you've provided refers to a short liquidation event for $SAND The Sandbox Here's the breakdown

$3.1271K represents the total value of the short position being liquidated, which is $3,127.10.

$0.62479 is the price at which the liquidation occurred, meaning the short position was closed when the price of reached $0.62479 per unit.

In a short liquidation, a trader who had bet that $SAND would decrease in price is forced to buy back the asset at a higher price than they initially sold it for, resulting in a loss. The liquidation happens when the price rises to a point where the position can no longer be sustained, and the exchange automatically closes it to prevent further losses.

This suggests that $SAND experienced upward price movement, which triggered the liquidation of short positions. Let me know if you'd like more information or further explanation

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