Sharp silver price declines on Jan. 30 triggered $70.52M in liquidations, mostly long positions, intensifying volatility across Hyperliquid’s active precious metals derivatives market.
Hyperliquid’s precious metals derivatives saw intensified market movements on Jan. 30 when silver contracts suffered $70.52 million in liquidations within four hours following a spot silver price drop. HyperInsight and CoinGlass data show 99% of liquidations were long positions, with the largest loss being a whale at $18.13 million. Nine other accounts each faced losses exceeding $1 million. The majority of the liquidations occurred on Hyperliquid, complementing significant overall trading activity where gold-related contracts PAXG and GOLD posted $739 million volume, silver contracts reached $1.796 billion, and copper derivatives registered $346.8 million in trades.