Binance Logs a $3.01 Million Ether Short Liquidation in One Event

A $3.01 million short position in Ether (ETH) was liquidated in one event on Binance's perpetual futures market at 4:01 p.m. ET Saturday (20:01 UTC), at a liquidation price of $2,348. The event timestamp was 5:01 a.m. KST Oct. 25 (4:01 p.m. ET Saturday; 20:01 UTC). The event involved one ETH short position valued at $3.01 million, at a liquidation price of $2,348. A short position is structured to gain when an asset's price falls. Liquidation means the position is forcibly closed.