Due to significant spot silver price fluctuations, the SILVER (Silver Spot Contract) witnessed a network-wide liquidation of 23 million in the last 4 hours.

BlockBeats News, February 2nd, according to HyperInsight and CoinGlass monitoring, due to a short-term significant fluctuation in the spot silver price, SILVER (Silver Perpetual Contract) experienced a network-wide liquidation of approximately $23.95 million in almost 4 hours, ranking just below BTC and ETH, with 64% of the positions being long positions. Most of the liquidations occurred on the Hyperliquid platform.

The monitoring shows that a whale holding a short position of XYZ:SILVER on Hyperliquid was liquidated for $4.13 million in a short period of time. During the same period, the platform also saw another liquidation of a long position exceeding $1.6 million in a single transaction.