Binance Logs a $3.01 Million Ether Short Liquidation in One Event

A $3.01 million short position in Ether (ETH) was liquidated in one event on Binance's perpetual futures market at 4:01 p.m. ET Saturday (20:01 UTC), at a liquidation price of $2,348.

The event timestamp was 5:01 a.m. KST Oct. 25 (4:01 p.m. ET Saturday; 20:01 UTC). The event involved one ETH short position valued at $3.01 million, at a liquidation price of $2,348.

A short position is structured to gain when an asset's price falls. Liquidation means the position is forcibly closed. The event captures the close of that ETH contract on Binance's perpetual futures market, rather than a spot-market transaction.

Perpetual futures are contracts tied to an asset without a fixed expiration date. The reported $3.01 million amount refers to this single short liquidation on Binance, not a wider total for ETH trading.