AI Stock Perpetuals Trigger $51.6 Million in Liquidations

Perpetual contracts linked to U.S. artificial intelligence stocks and semiconductor exchange-traded funds saw about $51.6 million in liquidations over 10 minutes Saturday, with long positions accounting for nearly three-quarters of the total. The price drop took place from 5:22 to 5:32 p.m. ET Saturday, Oct. 17 (21:22–21:32 UTC), when several of the contracts fell sharply. About $38.1 million in long positions were liquidated, compared with roughly $13.5 million in short positions. Long liquidations exceeded short liquidations by about $24.5 million. Contracts tied to SOXL had the largest liquidation tally, at about $12.7 million. SNDK contracts followed at approximately $10.8 million, while SK Hynix contracts listed under SKHY and SKHYNIX combined for about $10.7 million. SOXS recorded about $9.1 million and Micron-linked MU contracts about $4.4 million.

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