According to CoinMeta, data from CoinMeta shows that TUT experienced a margin call of approximately $38.7962 million in the past 4 hours, surpassing BTC and ETH to rank first in the market. Of this, the short position margin call amounted to about $36.5760 million, while the long position margin call was around $2.2202 million. Short positions accounted for about 94% of the total. The largest single margin call occurred on the Bitget TUT / USDT contract, valued at approximately $3.3271 million. Additionally, according to on-chain analyst Yu Jin's monitoring, recently large addresses and market makers of TUT have been frequently transferring tokens between centralized exchanges, mainly from Binance to Bitget. In the past day, about 160 million TUT tokens flowed into Bitget, accounting for about 20% of the total token supply.