Surge in Silver Price Volatility Triggers Massive Liquidations, SILVER Contracts Lose $23M in 4 Hours

On February 2, volatility in spot silver prices triggered around $23.95 million in liquidations across SILVER (silver-mapped contracts) in just 4 hours, second only to BTC and ETH. Data revealed that 64% of the liquidations were long positions, primarily concentrated on the Hyperliquid platform.

Monitoring showed that a whale holding a short position in XYZ:SILVER was liquidated for $4.13 million within a short timeframe. At the same time, another long position exceeding $1.6 million was also liquidated on the same platform.