Stock contracts showed up next. Perpetual futures tracking SanDisk, the U.S. memory-chip maker, saw $19.09 million liquidated, just above the $19.04 million for HYPE and the $18.78 million for XRP. These perpetual futures let traders bet on a stock’s price around the clock on crypto venues, without an expiry date. Contracts on SK Hynix and Micron, along with SOXL, a triple-leveraged U.S. semiconductor ETF, also appeared on the heatmap, with $7.21 million liquidated on SOXL.
Those losses lined up with the selloff in Seoul. Samsung Electronics and SK Hynix each fell about 8% on worries over AI-related valuations and competition from Chinese memory-chip makers, CoinDesk reported.
Oil went the other way. Contracts on WTI and Brent crude were among the few on the map where short bets made up most of the liquidations, as Brent held near $106 after a three-day rally.
The flow has since reversed. Of the $74 million liquidated over the past…
