Ether Long Worth $9.85 Million Fully Liquidated in Three Minutes

A leveraged Ether (ETH) long position worth $9.85 million was fully liquidated in three minutes after Ether fell below $2,600, highlighting the speed of losses in derivatives trading.

The position covered 3,728 ETH and was fully closed at about 10:23 p.m. ET Tuesday (02:23 UTC Wednesday). The liquidation occurred as Ether moved below the $2,600 threshold.

A long position benefits when an asset’s price rises. In leveraged trading, a sharp decline can trigger an automatic liquidation when the trader’s collateral no longer supports the position. The entire position’s closure indicates that the trader was unable to keep it open after the price move.

The $9.85 million liquidation occurred as Ether traded below $2,600.