Binance Liquidates $8.44 Million Ethereum Long Position at $2,637

A significant liquidation event occurred on the Binance exchange late on October 6, involving an Ethereum (ETH) long position worth $8.44 million. The liquidation took place at 10:01 p.m. ET (02:01 UTC on October 7) when the price of ETH hit $2,637. This forced closure happened in Binance’s perpetual futures market, marking one of the largest single liquidations recorded.

The liquidation affected a long position, which typically profits from rising ETH prices. Unlike aggregated totals, this event was recorded as a single liquidation, emphasizing its magnitude. The data was collected directly by TokenPost from Binance’s public liquidation records.

No official explanation was provided for the cause of the liquidation. The event highlights the volatility and risks associated with leveraged trading in cryptocurrency markets.