$ALPACA the token of Alpaca Finance, has seen significant liquidations, with $1.84 million in losses in just one hour, ranking it first across the network. Here's a breakdown :
- *Liquidation Details*:
- *Short Positions*: $1.839 million lost, accounting for the majority of liquidations.
- *Long Positions*: $3,715 liquidated.
- *Current Market Performance*:
- *Price*: $0.32.
- *24-Hour Change*: 24.25% increase.
- *Alpaca Finance Overview*: Alpaca Finance is a decentralized lending platform that offers leveraged yield farming and other financial services.
The significant liquidations could be attributed to market volatility or traders' inability to meet margin requirements. Alpaca Finance uses a double-layered liquidation system, including gentle repurchasing and selling on decentralized exchanges (DEXs), to manage risk .