Tokenized SanDisk bets saw more liquidations than XRP as Asia’s chip rout wipes out $800 million

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Crypto traders with leveraged bullish positions were the ones most exposed in this move, because most of the liquidations were long positions and the total reached about $803 million over 24 hours. That is the part of the market that notices the damage first the next morning, especially where chip-linked contracts are traded on crypto exchanges. (per coindesk.com)

In practice, the event shows that chip-stock-linked contracts on crypto venues were part of the same liquidation wave as broader crypto positions. What remains in place is that these contracts can still be traded, but the market activity during this period was tilted toward forced unwinds rather than fresh positioning. (per tokenpost.com)