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📰 【RAVE's liquidation amount in the past 24 hours ranks second only to Bitcoin and Ethereum, and its holdings have also sharply decreased.】
BlockBeats news, April 18, according to Coinglass data, as RAVE surged again past $27, in the past 24 hours, the total liquidation on the network reached $20.64 million, second only to Bitcoin and Ethereum, with $18.34 million in short liquidations, and the largest single liquidation of $161.5k. Notably, despite the price soaring again, RAVE's total contract holdings on the network have sharply declined. As of press time, RAVE holdings have fallen to 25.4885 million tokens (coin-margined), down 83% from the peak level of 150 million tokens on April 11.
$RAVE A 83% drop in holdings and still rallying, I know this script well. Either the dog whales are unwinding leverage with one hand or retail investors are scared into collective panic selling. Liquidating short positions is just the appetizer; the real feast begins when holdings bottom out. This kind of move either soars to the sky or crashes to zero, with no middle ground.