A recent market downturn led to significant liquidations across cryptocurrency platforms, with two major whale positions totaling $47.2 million being liquidated. This event marked the largest liquidation across all platforms during the downturn. Hyperinsight monitoring reported that the market's short-term decline also impacted "Ma Ji" (Licheng Huang), a frequent name on liquidation lists. Ma Ji's account saw 3,520 ETH long positions liquidated, valued at $7.07 million, nearly depleting the account entirely.