Follow UsTokenized SanDisk bets saw more liquidations than XRP as Asia’s chip rout wipes out $800 million
Neutral-33.17%
13 Oct, 05:27
Source: CoinDesk
AI Summary
A sharp downturn in Asian semiconductor stocks triggered approximately $800 million in leveraged long liquidations on crypto exchanges, heavily impacting tokenized equity contracts and broader crypto derivative markets.
About $800 million in leveraged positions were wiped out over 24 hours, 86% of them bullish. Chip-stock contracts on crypto exchanges took a chunk of the damage.