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RAVE Falls More Than 88% in 24 Hours as Liquidations Reach $43.71 Million

Market data showed RAVE dropping to $2.82 within 24 hours, while total contract liquidations climbed to $43.71 million, making it the third-largest liquidation event in the market behind Bitcoin and Ethereum.

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Summary

RAVE fell more than 88% over 24 hours to $2.82, triggering $43.71 million in total contract liquidations. Long liquidations accounted for $22.84 million, while short liquidations reached $20.87 million. The scale of the move placed RAVE third across the broader market for liquidations, behind only Bitcoin and Ethereum.

Terms & Concepts
  • Liquidation: A forced closure of a leveraged trading position when losses exceed margin requirements.
  • Long liquidations: Forced closures of bullish leveraged positions after an asset’s price falls and traders can no longer maintain margin requirements.
  • Short liquidations: Forced closures of bearish leveraged positions after price moves against traders and margin thresholds are breached.