BlockBeats News, October 17th, according to market data, the price of the mainstream cryptocurrency exchange platform’s gold-pegged token PAX Gold (PAXG) experienced a sharp upward spike this morning, with the price on some platforms briefly exceeding $4800 and currently trading at $4436.
Community analysis believes that this upward spike may have been caused by a short contract trader’s liquidation on Binance, where the platform’s inverse perpetual contract trading pair experienced a maximum upward spike of 15.8%, reaching $5106. Binance has not yet responded to this incident.
According to Coinglass data, the past 4 hours saw a total of $6.82 million in PAXG liquidations across the network, with $1.279 million from long liquidations and $5.5453 million from short liquidations.
