IP Price Experiences Dramatic Fluctuations and Significant Liquidations

IP witnessed a significant price volatility in the past 24 hours. According to BlockBeats data, its price plunged sharply after midnight UTC+8, decreasing by over 20% from $3.9 to a low of $2.9 around 12:25 AM. However, IP quickly rebounded to approximately $4. Coinglass data reveals a substantial total liquidation amount of $2.0767 million across the network within the past 24 hours. Long positions accounted for $1.1739 million in those liquidations, while short positions contributed $902,900.