Tokenized SanDisk Liquidations Top XRP Amid Asia Chip Sell-Off
Roughly $800 million in leveraged positions were liquidated in 24 hours, with bullish bets accounting for 86% of the total, according to CoinDesk.
A sell-off in Asian chip stocks coincided with roughly $800 million in liquidations of leveraged positions over 24 hours, CoinDesk reported.
Bullish positions made up 86% of the total, leaving traders betting on higher prices with most of the losses from forced closures.
Chip-stock contracts traded on crypto exchanges accounted for part of the damage. Liquidations tied to tokenized SanDisk bets exceeded those linked to XRP, highlighting the impact beyond cryptocurrency contracts.
Source: CoinDesk
