ETH and SOL combined for the largest share of liquidations due to their heavy futures exposure.
All three altcoins faced major selloffs after failing key technical levels during high-leverage trading.
The $822M wiped out in 24 hours demonstrates ongoing fragility in leveraged crypto ecosystems.
During the turbulent 24-hour period, over $822 million in crypto positions were offloaded to the major exchanges. The largest losses were incurred by five of the best-performing coins—Ethereum (ETH), Solana (SOL), XRP, Sui (SUI), and Sei (SEI)—who together accounted for over 65% of total losses.
Volatile price action and extreme leverage in the futures and margin markets created the sharp market reaction. High-leverage traders got caught in the liquidation cascades, with large exchanges processing millions of real-time sellouts. All coins were major part of the liquidation frenzy, demonstrating overall weakness in high-leverage crypto trading.
Ethereum (ETH): Exceptional Volume Drives Liquidation Spike
Ethereum was the top contributor to the liquidation total. The asset, known for its massive open interest in perpetual futures, saw large-scale long positions wiped out after it failed to hold above key resistance. Traders using 10x–20x leverage were quickly liquidated when ETH's price retraced from intraday highs. This move marked one of the most exceptional liquidation episodes for Ethereum in recent months. Despite its superior network utility and deep liquidity, the volume of liquidated ETH positions highlighted how even the most dominant assets can trigger sharp downside chain reactions in overleveraged markets.
Solana (SOL): Outstanding Open Interest Crushed by Sharp Drop
Solana followed closely behind Ethereum in liquidation volume. The asset, often seen as a high-yield play among altcoins, experienced an abrupt price reversal that led to aggressive stop-outs. SOL has historically drawn speculative interest, making it highly sensitive to leveraged activity. Its outstanding liquidation figures were attributed to a significant number of long contracts opened in anticipation of a breakout. However, as volatility increased, these positions were forcibly closed, resulting in millions of dollars in losses. Solana’s dynamic price action continues to make it a central figure in liquidation events.
XRP(XRP): Groundbreaking Position Flush as Resistance Holds
XRP contributed a substantial share to the total liquidation pool. The asset faced a sharp downturn after failing to break through a long-standing resistance zone. Traders betting on a breakout were caught off guard as XRP dropped swiftly, triggering forced liquidations across both long and short positions. The liquidation impact was particularly strong on short-duration contracts. XRP’s groundbreaking market history and legal clarity had recently attracted fresh trading interest, but the market pullback erased much of that short-term momentum. Its behavior during the event reflected its unmatched volatility profile.
Sui (SUI): Remarkable Volatility Draws Leveraged Traders Into Losses
Sui, a newer asset among the top five, saw one of the most remarkable spikes in liquidation activity relative to its market cap. As an innovative Layer 1 project, SUI has gained traction in speculative trading circles. However, the sharp price move during the 24 hours triggered a cascade of liquidations. Many positions were opened near local highs, only to be wiped out as price reversed. The magnitude of Sui’s liquidation data points to elevated risk-taking behavior among traders, especially those expecting short-term upside momentum without accounting for volatility swings.
Sei (SEI): Phenomenal Leverage Collapse Follows Price Breakdown
Sei rounded out the top five, posting one of the most phenomenal liquidation ratios of the session. Like SUI, SEI has become a focus of high-frequency and high-leverage trading. The asset’s thin order books and sharp price movements created the ideal environment for liquidation triggers. As price action failed to hold above crucial levels, leveraged longs were liquidated in large volumes. Sei’s performance during the session highlights how smaller-cap, high-interest tokens can lead to unmatched liquidation spikes even on minor technical failures.
