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We just witnessed a major liquidation on Aster. A short position worth $12.18 million in ETH/USDT was closed in a single move. When prices moved against the trader, this massive position collapsed.
Ethereum is currently trading at around $2.35k and has decreased by about 2% in the last 24 hours. The risks of such high leverage trades on platforms like Aster have been highlighted once again. Millions can disappear in an instant.
Holding such large positions in leverage trading is truly dangerous. After this liquidation on Aster, I think the market needs to be more cautious.