You're referring to a long liquidation event for LUNA2 (likely referring to the second iteration of the Luna token) at a price of $0.26723, resulting in a liquidation value of $9.711K.
Here's a breakdown:
Long Liquidation: In this case, traders who had long positions (betting the price would go up) were forced to exit their trades at a loss. This happens when the price drops significantly enough to trigger a forced liquidation. Traders are then forced to sell their positions to cover the margin.
$9.711K: This represents the total liquidation value, i.e., the amount that was liquidated due to the long position being closed because of the price movement.
$0.26723: This is the price at which the long position was liquidated.
In the case of long liquidations, especially if the position size is large, it can add selling pressure to the market, potentially causing further downward price movement, especially in volatile assets like LUNA2.
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