TUT, a token tied to the BSC ecosystem, posted extreme price action on Aug. 9, according to BlockBeats. Market data from HTX showed the spot price was up more than 200% over the past 24 hours and last changed hands at $0.11. The move turned quickly within the past hour, with TUT first accelerating higher and then falling back fast, leaving the token down more than 44% on the one-hour timeframe.
BlockBeats also said TUT has been on a sustained rally recently, with gains of more than 10x over the past week. That volatility spilled into derivatives trading. During the latest move, TUT became the token with the largest amount of liquidations in the past hour. As of publication, one-hour liquidations reached $34.02 million, including $32.78 million from short positions. BlockBeats added that multiple short positions worth more than $1 million on centralized exchanges were liquidated.
TUT, a BSC ecosystem token, saw sharp price swings on Aug. 9, according to BlockBeats.
HTX market data showed TUT spot was up more than 200% over the past 24 hours, with the token quoted at $0.11. In the past hour, the token accelerated higher and then reversed quickly, leaving it down more than 44% on the one-hour chart.
BlockBeats said TUT has continued to surge in recent days, with gains of more than 10x over the past week.
Derivatives activity also picked up during the move. TUT became the token with the largest contract liquidation volume over the past hour. As of publication, one-hour liquidations stood at $34.02 million, including $32.78 million in short liquidations. BlockBeats added that multiple short positions worth more than $1 million on centralized exchanges were liquidated.
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