INJ rose about 4.5% in the past hour, while short liquidations topped 3,200 times long liquidations—with almost no liquidations on the long side.
Price comparison: INJ at about 8.150 on Binance (+4.527%) and 8.150 on OKX (+4.595%). Over the past hour, short liquidations totaled about $65,700, versus just about $20 in long liquidations—a ratio of roughly 3,236 to 1. Open interest: about $26.77 million on Binance, $4.67 million on OKX, and $18.52 million on Bybit.
Price pushed higher, yet shorts were wiped out en masse—the 3,000-to-1 imbalance can’t be explained by a minor pullback.
Short liquidations exceeded long liquidations by more than 3,200 to 1. Was this shorts getting caught on the wrong side of the move, or did the rebound wipe out leveraged short positions all at once?
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