TUT Token Suffers Catastrophic Price Reversal After 1100% Rally

Tutorial (TUT), a token built on BNB Chain, has become the most liquidated crypto asset in the past 24 hours after experiencing a violent price reversal.

The token's value surged more than 1,100% over two days, reaching an all-time high of $0.2903 on August 9. However, it has since reversed sharply and is now trading about 42% below that peak.

Total crypto liquidations reached $168.3 million over the past 24 hours, with TUT accounting for roughly one-quarter of all liquidations during the period. The token's extreme move began around August 7, when decentralized exchanges started listing TUT perpetual contracts with leverage of 5x and higher.

The rapid rise likely put pressure on traders betting against the token, making their short positions vulnerable to forced closures and adding to the buying pressure. The subsequent reversal created a dynamic where leveraged long positions became increasingly vulnerable to liquidation, potentially amplifying the decline.