🚨💥💥 A dump on SPACEX by Ventuals that triggered a cascade of liquidations



Under normal conditions, the impact price was stable until someone opened massive shorts (or aggressively closed longs). As a result, within the Ventuals mechanism, the impact price dropped significantly below the last traded price, which then dragged down the mark price and consequently the oracle price.

The protection mechanism worked as intended, maintaining the same ±20% limits relative to the oracle price. However, the recovery of the mark price took some time because of the built-in mark price protection - the price cannot move faster than 1% every 3 seconds.

At this point, the situation is stabilizing, as if nothing had happened

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$BTC ‌#
SPCX-2.05%
BTC-2.13%
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