Over $51.5 million in liquidations triggered by AI stock futures flash crash

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SOXL
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SNDK
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SKHY
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SOXS
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MU
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Perpetual futures linked to AI stocks experienced a sudden price drop in the futures market between 05:22 and 05:32 UTC, triggering over $51.59 million in liquidations. Long positions accounted for approximately 73.77% of the losses. The largest liquidations occurred in SOXL, SNDK, SKHY, SOXS, and MU.

Odaily Planet Daily reports, according to CoinGlass data, between 05:22 and 05:32 Beijing time today, the prices of several perpetual contracts linked to U.S. AI-themed stocks experienced a sharp short-term decline, resulting in a combined liquidation of approximately $51.596 million in perpetual contracts for AI stocks and semiconductor ETFs. Of this, long positions were liquidated for about $38.0622 million and short positions for about $13.5338 million, with long positions accounting for approximately 73.77%.

Specifically, the leveraged long semiconductor ETF (SOXL) experienced a liquidation of approximately $12.73 million, SanDisk (SNDK) approximately $10.845 million, SK Hynix (combined SKHY and SKHYNIX) approximately $10.7152 million, the leveraged short semiconductor ETF (SOXS) approximately $9.0721 million, and Micron (MU) approximately $4.4044 million.

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