Chip-Linked Contracts Log $51.6 Million in Liquidations Over 10 Minutes

Leveraged positions tied to chip stocks and semiconductor funds saw $51.6 million liquidated in 10 minutes Saturday, as sell orders moved from Binance to Hyperliquid during the U.S. market closure. About $38 million of the liquidations came from long positions. The forced closures took place between 5:22 and 5:32 p.m. ET on Oct. 17 (21:22–21:32 UTC). SOXL-linked contracts had the largest liquidation total, at about $12.7 million. SanDisk and SK Hynix contracts each recorded about $10.8 million. Large SanDisk and Micron sell orders appeared on Binance at 5:21:59 p.m. ET (21:21:59 UTC). Selling appeared on Hyperliquid less than a second later. Within 1.8 seconds, about 10 addresses had opened short positions across six chip-related contracts.

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