In this SUI rebound, almost all the people getting cut were shorts.
At 10:30pm, SUI tested 1.146 on both Binance and OKX, then climbed all the way to 1.207, up 5.3%. Counting from 11:30pm onward, across the whole network, $222,000 worth of short liquidations were wiped out, while long liquidations were only $1,748.
More interestingly, where did the blowouts happen? Bybit accounted for 68.6%; its biggest single liquidation was also a $100,000 short. OKX accounted for 28%. Binance, which had the highest trading volume, only saw $4,658 liquidated—about 2%. High-leverage short positions clearly clustered on the other two platforms.
Going back another two hours, it was still the longs being slaughtered: from 9:30pm to 11:30pm, 866,000+ long positions were wiped out. Binance still has 69% of accounts betting long. After being buried in a round just now, the longs have come back again.
Current price is 1.188; it has fallen 1.6% from the high point. Do you think SUI can stand above 1.21 this time?
$SUI
View in real time: https://www.coinboss.com/zh/liquidations/SUI