A recent liquidation occurred on a $WIF short position valued at $43,400 triggered when the token’s price reached $2.415 This event involved a trader who had wagered on a decrease in WIif price, essentially betting that the token would lose value.
However as WIF’s price rose to $2.415, the short position automatically liquidated or closed, to limit potential losses.
Such forced closures or liquidations are common in leveraged trading where positions are closed once they hit predetermined thresholds.
Here the upward price movement led to the liquidation resulting in a financial setback for the trader as they were forced to exit the trade at an unfavorable rate.
