$102 Million in Crypto Derivative Positions Liquidated in a Single Day

Crypto derivatives traders had a tough day on February 21, 2026. Over a 24-hour window, roughly $102 million in leveraged positions were forcibly closed, with short positions bearing the brunt of the losses.

The bears expected a drop, but the market had other ideas. Short positions accounted for $74.11 million of the total liquidations, while long positions made up $27.5 million.

The single largest liquidation was an $8.5 million SOL-USD position on Hyperliquid, a decentralized derivatives exchange. This highlights the growing trend of large leveraged trades being visible on-chain as more trading moves to decentralized venues.