Avalanche Drops 4.30% in One Hour Amid $760,000 Long Liquidations

Avalanche (AVAX) experienced a sharp decline on October 6, dropping 4.30% in just one hour to $11.12 at 10:08 p.m. ET (02:08 UTC on October 7). The token had previously been trading at $11.62 on Binance’s AVAX/USDT spot market. Despite this hourly selloff, AVAX managed to stay slightly positive, up 0.04% over the past 24 hours.

The price drop coincided with significant long liquidations, totaling $760,000 across Binance, Bybit, and OKX. In contrast, short liquidations were minimal, reaching only $10,000. This imbalance suggests that most of the forced closures during this period involved positions betting on higher prices.

At the time of the measurement, Avalanche’s market capitalization stood at approximately $5.12854 billion, placing it in the 25th position among cryptocurrency assets. The data reflects TokenPost’s direct collection and calculation of publicly available exchange prices and liquidation figures.