Stats: This year, the total value locked (TVL) across all protocols has surpassed $150 billion USD, with the "1011" crash bearing systemic significance

BlockBeats News, December 26th, according to Coinglass data, within 2025, the total nominal amount of forced liquidation of long and short positions on the entire network is approximately $154.64 billion, corresponding to a daily average of about $4-5 billion of normal leverage reshuffling.

On most trading days, the scale of long and short liquidations remains in the range of tens of millions to hundreds of millions of dollars, mainly reflecting daily margin adjustments and short-term position liquidation in a high-leverage environment, with limited mid- to long-term impact on price and structure. The truly systemic pressure is concentrated in a few extreme event windows, with the mid-October deleveraging event on 10·10–10·11 being the most typical.