According to data provided by Onchain Lens, trader @qwatio got liquidated on his 20X XRP short position.
As reported by U.Today, the position with a notional value of $17.6 million was opened on Monday after taking a $3.4 million loss with his XRP and Bitcoin positions.
According to CoinGecko, XRP has reached an intraday high of $2.91, which was the trader's liquidation price.
After initially depositing $4.2 million to the HyperLiquid trading platform, the trader is left with only $653,000 following three consecutive days of unsuccessful trades.
$7.6 million worth of liquidations
CoinGlass data shows that roughly $7.6 million worth of XRP has been liquidated over the past 24 hours, with long positions accounting for the lion's share of this sum (64%).
Hyperliquid makes up more than 50% of all liquidations, according to the most recent data. Bybit and Binance come in second and third places, respectively.
Notably, long positions accounted for virtually all of the liquidations on Hyperliquid (95%). For comparison, the opposite is the case for Bybit, where short positions make up 77.4% of all liquidations.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team