Lookonchain
ETH fell below $2,600 as trader 0xcbab was fully liquidated on a 3,728 ETH long position valued at $9.85 million. The liquidation took place in three minutes.
Why it matters
A leveraged long can be forcibly closed when its margin no longer meets the required level. A liquidation of this size illustrates the exposure concentrated in a single ETH position during a fast move.
Market impact
The reported liquidation does not establish how much broader market leverage was affected. ETH's move below $2,600 and the size and speed of this forced close are the key details to watch alongside further price action.
Source: [HypurrScan Beta](https://hypurrscan.io/address/0xcbab8e70638b939b21d0c5467a31e69e1361dc70#txs)
Frequently asked questions
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How large was the ETH position that was liquidated?
Trader 0xcbab's long position was 3,728 ETH, valued at $9.85 million.
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How long did the liquidation take?
The 3,728 ETH long position was fully liquidated in three minutes.
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At what price level was ETH trading when the liquidation was reported?
ETH had fallen below $2,600 when the liquidation was reported.
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What does a forced liquidation mean for a leveraged long?
A leveraged long can be forcibly closed when its margin no longer meets the required level.
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Does this liquidation show how much leverage the wider ETH market had?
No. The reported liquidation describes one trader's position and does not establish broader market leverage.
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