TUT's Violent Price Reversal Becomes Crypto Market's Most Liquidated Event

Tutorial (TUT), a token built on BNB Chain, recently became the most liquidated crypto asset after experiencing a violent price reversal.

The sudden move came after TUT recorded a 1,100% price increase in just two days, reaching an all-time high of $0.2903 on August 9. However, this rapid rise was followed by a sharp decline, with the token now trading about 42% below its peak.

According to CoinGlass data, TUT accounted for roughly one-quarter of all liquidations over the past 24 hours, with total crypto liquidations reaching $168.3 million. The token's extreme price movement was accompanied by extraordinary derivatives activity, with $3.34 billion in 24-hour futures volume recorded, more than 23 times its current market capitalization of about $140.5 million.

The rapid rise and subsequent decline are attributed to the listing of TUT perpetual contracts on decentralized exchanges, which offered leverage of up to 5x. This high-leverage trading triggered a violent price reversal, with leveraged long positions becoming increasingly vulnerable to liquidation as the price began falling.