PANews January 31 News, according to CoinDesk, due to the rapid correction of spot silver prices from their highs, tokenized silver futures became the largest liquidation product in the crypto market in the past 24 hours, rarely surpassing Bitcoin, triggering a wave of cross-market leverage liquidations. The largest single liquidation occurred on the Hyperliquid platform, where a high-leverage XYZ:SILVER-USD position worth $18.1 million was forcibly liquidated due to severe price fluctuations. Analysts point out that this abnormal liquidation mainly resulted from the sharp correction following the previous rapid increase in silver prices, along with exchanges raising margin requirements for precious metal futures, which forced high-leverage positions to deleverage passively, exacerbating short-term price volatility. Market attention now focuses on whether precious metal prices can stabilize and whether the liquidation focus will shift back to core assets like Bitcoin and Ethereum.
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