Tutorial (TUT), a token built on BNB Chain, recorded more than $42 million in liquidations over the past 24 hours, surpassing Bitcoin and Ethereum to become the most-liquidated crypto asset during the period, according to CoinGlass data.
The liquidation wave came after a sharp rally that pushed TUT more than 1,100% higher in two days, sending the token to an all-time high of $0.2903 on August 9. It has since reversed sharply and is now trading about 42% below that peak.
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The move has been accompanied by extraordinary derivatives activity. TUT recorded $3.34 billion in 24-hour futures volume, more than 23 times its current market capitalization of about $140.5 million.
Why Did TUT Liquidations Surge?
Total crypto liquidations reached $168.3 million over the past 24 hours, according to CoinGlass, with short positions accounting for $112.5 million of the total. TUT accounted for roughly one-quarter of all liquidations during the period.
The token’s extreme move began around August 7, when decentralized exchanges started listing TUT perpetual contracts with leverage of 5x and higher. Over the following two days, its price surged more than 1,100%, reaching $0.2903 on August 9.
The rapid rise likely put pressure on traders betting against the token. As TUT moved higher, short positions became vulnerable to forced closures, potentially adding to the buying pressure and accelerating the rally.
The subsequent reversal created the opposite dynamic. Once the price began falling, leveraged long positions became increasingly vulnerable to liquidation, potentially amplifying the decline.
TUT’s market capitalization stands at $140.5 million, while 24-hour futures trading volume hit $3.34 billion — more than 23 times the token’s market cap.
What Is TUT?
TUT is the native token of Tutorial, an AI-powered blockchain education platform on BNB Chain. The project offers structured lessons covering blockchain technology, decentralized finance and cryptocurrency through an AI tutor.
The token has an unusual origin. It was initially created as part of a tutorial demonstrating how to launch a token on BNB Chain before being relaunched as a meme coin.
Why This Matters
High-leverage listings on low-cap tokens can trigger outsized liquidation events that ripple through broader market sentiment. TUT’s price action illustrates how quickly leveraged derivatives trading can amplify price moves on assets with limited market depth.
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