Tokenized SanDisk Trades Outpace XRP in Liquidations as Asia Chip Rout Hits $800M

Leveraged crypto bets tied to semiconductor stocks unwound faster than major tokens during a regional selloff. A selloff across Asian semiconductor stocks spilled into crypto markets this week, forcing the liquidation of leveraged positions worth more than $800 million. The wipeout spanned ten exchanges and hit both traditional crypto tokens and tokenized equity products tracking chipmakers. Among the hardest-hit instruments were tokenized positions linked to SanDisk, the US memory chip manufacturer. According to CoinDesk, liquidations tied to these SanDisk-linked tokens exceeded those recorded for XRP, one of the most heavily traded tokens on derivatives platforms.

Source: TheCoinrise