**Hyperliquid Creates Record-breaking Liquidations, Cryptocurrency Market Clears Over $258 Million in 24 Hours**

According to real-time data from Coinglass, the past day has seen a surge of liquidations in the global cryptocurrency market. Over 100,000 traders faced forced liquidations during this wave, with total liquidation volume reaching $258 million, reflecting the intense market volatility.

From the perspective of long and short positions, the pressure on longs is more apparent. Liquidations of long positions amounted to $152 million, far exceeding the $106 million in short position liquidations, indicating that traders holding long positions suffered greater losses during this adjustment.

Of particular note is a record-breaking large liquidation event on the Hyperliquid platform’s ETH-USD trading pair, with a single liquidation size of $6.9124 million. This transaction not only set a new record for liquidations on the platform but also highlights the concentrated leverage risk in the derivatives market. The instantaneous liquidation of large positions during extreme market conditions often further amplifies market volatility.