This PHA roller-coaster ride has pushed the number of liquidations to the #1 spot across the whole network.
In the last 24 hours there were 5,571 liquidation trades—more than Ethereum’s 4,887 and Bitcoin’s 4,338. But the total amount is only $5.25 million, just one-twelfth of Ethereum’s. Average per liquidation is $943—mostly small high-leverage positions, with money in the low-thousands, slugging it out.
The market itself is stimulating enough: in the past 24 hours it surged 36% from a low of 0.0546 to 0.1012, with an 85% range. Now it’s back near 0.0775 again—those who chased to the top are already down more than 20%.
Shorts took the first slice, accounting for 64%; the rally wiped them out cleanly. In the past four hours, the sentiment has flipped—liquidated long positions are 56% now, and the pullback has started targeting those who chased highs.
The largest single order is on Bybit: a short position of 215,000 coins, worth $187,000. Throughout the entire back-and-forth, there isn’t a single trade above $20,000—this is the retail-dense situation.
Do you think this pullback is a shakeout or distribution?
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Check in real time: https://www.coinboss.com/liquidations