Binance Records a Single $11.47 Million Ether Long Liquidation

Binance recorded a single $11.47 million Ether (ETH) long liquidation at 8:30 a.m. ET (13:30 UTC) on Nov. 10, with the position closed at a liquidation price of $2,048.

The liquidation occurred on Binance's ETH perpetual futures market. The $11.47 million figure is the amount of the position liquidated, while $2,048 is the price tied to its forced close. The reported event involved one long position.

A long position is structured to benefit if an asset's price rises. A liquidation is the forced closing of a trading position. Perpetual futures are derivatives contracts without a fixed expiration date. Those terms describe the position and contract involved in the Binance event.

The observation records one Ether long liquidation. Its amount, direction, contract and price all refer to the same Binance market event at 8:30 a.m. ET on Nov. 10. The event involved one long position.