Markets
What You Need to Know (If You’re Not Already Broke):
- Ether (ETH) trade on Hyperliquid marked the largest liquidation in 24 hours amid a $1.19 billion leveraged position wipeout. 🚀💸
- Nearly 90% of liquidations were long positions, highlighting market bullishness and affecting over 260,000 traders. 🐂💥
- Hyperliquid, a decentralized exchange, saw significant liquidations, indicating increased risk-taking in decentralized markets. 🏗️🔥
An epic trade on Hyperliquid turned into the biggest liquidation hit in 24 hours as crypto traders took on more than $1.19 billion in leveraged positions, because who needs sleep when you can lose money? 😴💸
Longs made up nearly 90% of the wipeout, per CoinGlass, leaving over 260,000 traders losing money and exposing the market’s bullish overcrowding. 🐂📉
Ether bore the brunt with $448 million in liquidations, followed by [some tokens], because even the crypto gods are crying. 🧙♂️😭
But the single largest trade closure came on Hyperliquid – a $29.1 million ETH-USD long hit which is indicative of the growing role of decentralized perpetual exchanges in driving liquidations. 🎢💸
Bybit handled the most overall liquidations at $311 million, but Hyperliquid followed closely with $281 million, ahead of Binance’s $243 million. 🏆 decentralized
For a relatively recent protocol that operates fully on-chain with no KYC or regulatory firewalls, Hyperliquid’s share of liquidations points to traders piling risk into perpetual decentralized exchanges (DEXs) in size. A 97% long bias further showed how aggressively users were positioned before the flush. 🧠💥
The wave came as sentiment remains fragile and bitcoin sees volatile price action around the $111,000 mark. Spikes in liquidations are often read as clearing events that pave the way for reversals, but with positioning stretched across majors and high-beta tokens alike, downside risks linger. 🕷️💃
Meanwhile, some say projects with strong revenue flows could emerge attractive to traders amid an otherwise risk-off mood. 💸😢
“While crypto markets are down, capital is still rotating from Bitcoin into altcoins, with perpetual decentralized exchanges (Perp DEXs) like Hyperliquid and Aster leading the charge,” said Nick Ruck, director at LVRG Research. 📊📉
“We expect altcoins to slowly grind upward as investors seek projects that can decouple from macro pressures and continue to grow based on their own utility,” Ruck added, because optimism is a currency. 💸✨
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2025-09-26 08:08