TIA’s long leverage was washed out with a round last night.
At 23:23 last night, on Binance, TIA’s two-minute price action dumped from 0.459 to 0.4464, a drop of 2.7%. In the four minutes before and after, 19 long positions were liquidated, totaling $367,000, accounting for more than 80% of the day’s long liquidations.
The contrast is this afternoon. In the hour from 14:00, the price fell to 0.4337—lower than the pin from last night by nearly 3%. In that hour, longs only liquidated $2,097. The move that needed to be wiped out was already wiped out last night, and the remaining positions have noticeably lower leverage.
Now the price is back to 0.452, more than 4% off the low. Over the past 24 hours, it’s still down more than 2%.
Positions didn’t really get reduced either: Binance’s holdings for the day fell by only 1%. The proportion of retail accounts going long has stayed around 55%. Meanwhile, among large accounts, the long side actually rose from 78.4% to 82.1%. Fees are slightly positive—longs are paying, but not getting squeezed.
Falling even deeper with no one liquidating—has the leverage been thoroughly washed clean, or are the big players taking the last baton?
$TIA
View in real time: https://www.coinboss.com/zh/liquidations/TIA