According to the latest data from HyperInsight and CoinGlass on January 15, the cryptocurrency market experienced sharp volatility. PUMP dropped 8.4% in a short period, currently trading at $0.00264. FARTCOIN fell even more, with a decline exceeding 13%, now at $0.373. Notably, in the past hour, long positions of PUMP and FARTCOIN on Hyperliquid accounted for a staggering 97.6% and 95.5% of total liquidations, dominating the market-wide margin calls.
Whale Long Positions Face Cascading Liquidations
Analysis reveals that this large-scale liquidation was primarily driven by a well-known whale address (0xbaa). This address was not only the second-largest long holder of PUMP on-chain but also the largest long holder of FARTCOIN. Monitoring data shows that its PUMP longs were hit by two major liquidations within 30 minutes, totaling approximately $14.32 million, with about $470,000 in losses. The next liquidation level for PUMP is expected near $0.00218. Meanwhile, FARTCOIN longs faced liquidations of around $11.16 million, with the next estimated liquidation price near $0.348.
- Total Liquidation for PUMP: $14.32 million
- Liquidation Amount for FARTCOIN: Around $11.16 million
- Remaining Holdings: Approximately $5.86 million
Market observers suggest the dramatic price swings may stem from market sentiment, excessive leverage, and imbalance in the whale's position structure. Investors should be cautious of the risks associated with leveraged trading and consider portfolio diversification to mitigate exposure during extreme market conditions.