The most notable liquidation in the crypto market in the last 24 hours came not directly from crypto assets this time, but from tokenized oil futures. Brent oil futures contracts traded on the Hyperliquid platform stood out in large-scale liquidations.
Oil contracts stand out in crypto liquidations
According to CoinGlass data, the total liquidation size reached $403 million in the last day. $46.6 million of this amount came from Brent oil futures tokenized on Hyperliquid. Thus, oil became the third asset with the most positions liquidated, after Ethereum and Bitcoin. The top four places were Ethereum, Bitcoin, Brent oil and Solana, respectively.
In this entire process, the highest amount of one-time liquidation took place in the Brent oil contract. A user’s oil position worth $17.17 million was closed on the Hyperliquid exchange. This is the second major individual liquidation on the oil side in the last month. This shows that traditional market assets can also cause significant fluctuations through crypto infrastructure.
Geopolitical fluctuations were reflected in the market
While the BRENTOIL-USDC contract was traded at $ 107.19 in the last 24 hours and increased by approximately 2 percent, a total volume of 977 million dollars was created. The open position size reached 515 million dollars. This figure exceeds the total market cap of many mid-cap crypto assets.
US President Donald Trump’s national speech was influential in the background of the fluctuation. Trump’s message that he would impose ‘severe sanctions’ on Iran reversed the expectations of peace in the market. After the announcement, the price of Brent oil in traditional markets increased by 5 percent and climbed above $106.
Especially investors who expected a decrease in oil prices in the hope of a ceasefire and bet on the rise in crypto assets were negatively affected by this change. Those who had taken positions on both fronts suddenly suffered bilateral losses due to the sudden change in direction of prices.
While the total liquidated positions exceeded 137 thousand, the majority of the closed positions, worth 234.6 million dollars, were long transactions. Sell-side (short) liquidations reached $168.7 million. Especially in the four hours after Trump’s speech, it was seen that liquidations reached 153.7 million, of which $130.8 million was made up of long positions.
As an alternative to classic cryptocurrencies, Hyperliquid offers investors access to tokenized derivatives of assets such as oil and gold. The platform provides the opportunity to react instantly to geopolitical and macroeconomic developments with its market structure open 24 hours a day, 7 days a week.
In recent months, tokenized oil has appeared several times in the list of the top five assets most liquidated in the post-war period. The new tools that Hyperliquid offers in this market have opened the door for crypto investors to completely re-evaluate risks and opportunities.
