SanDisk Liquidations Outpace XRP After Asia Chip Selloff
On crypto exchanges, long positions in Bitcoin, Ether, and chip stocks were hit hardest, while the selloff in Asia drove liquidations higher.
Key Takeaways
- About $803 million in leveraged positions were liquidated across 10 exchanges in 24 hours, and 86% of them were long positions.
- Bitcoin saw $181 million in liquidations, followed by Ether with $178 million and SOL with $60 million.
- Traders who bet on SanDisk lost more to forced liquidations than traders who speculated on XRP, partly because of the selloff in Asia.
Traders who had bet on SanDisk lost more to forced liquidations over the past 24 hours than traders who speculated on XRP. That shows how much leverage on crypto exchanges is now tied to chip stocks, while the selloff in Asia hit the market hard.
Millions in Long Positions Wiped Out
According to CoinGlass, a total of about $803 million (€718 million) in leveraged positions were liquidated across 10 exchanges. A liquidation happens when an exchange automatically closes a borrowed position because the loss gets too large for the collateral. Of the total, $694 million (€621 million), or 86%, came from long positions. In total, 172,113 traders were affected.
The damage piled up especially fast over a short period. About $595 million (€532 million), nearly three-quarters of the daily total, disappeared in the last 12 hours. That lined up with a drop of more than 6% in South Korea's KOSPI and a pullback in Bitcoin to just below $81,000 (€72,400).
The biggest single liquidation was a $9.65 million (€8.6 million) Bitcoin long on Binance, closed around $81,773 (€73,100). Binance accounted for half of all liquidations.
Bitcoin and Ether Take the Biggest Hit
Bitcoin topped the list with $181 million (€162 million) in liquidations. Ether followed with $178 million (€159 million), despite the much smaller market value of that contract segment. SOL also took a hard hit, with $60 million (€53.7 million) in liquidations.
The numbers fit into a broader period where demand for computing power and chips is under pressure. The global PC market saw a sharp drop in the third quarter of 2026, while demand from AI data centers has further tightened the shortage of memory and processors. That matters for crypto traders, because chip-related stocks and crypto exposure on exchanges are increasingly getting caught in the same risk moves.
The expansion of crypto exchanges into stocks and commodities also shows how quickly these markets are blending together. Because of that, shocks in traditional markets can now spill over into crypto liquidations just as easily.
Why This Matters for Crypto
For European crypto investors, this is mainly a sign that liquidations do not come only from pure token trading. Positions in chip stocks and other exchange-traded products can also build up quickly through crypto exchanges, especially when leverage is high. That makes these selloffs broader than just Bitcoin or the major altcoins.
