Hyperliquid experiences $235 million massive liquidation on Monday: record high in position concentration

LiquiditySurfer · 2026-01-19T01:00:10+00:00

On Monday, the Hyperliquid derivatives platform experienced a strong liquidation wave, with $235 million in positions being liquidated, primarily in Bitcoin. Although the open interest reached $9.91 billion, the number of active traders decreased to 155,000, indicating increased influence of large traders and institutions, while retail traders' voice weakened, leading to greater market volatility and risk.

LiquiditySurfer

2026-01-19 01:00:10

Abstract generation in progress

【Crypto World】Monday’s market turned sharply, and the Hyperliquid derivatives platform experienced a wave of massive liquidations. Before 8 o’clock, in just four hours, $235 million in positions were forcibly liquidated, with Bitcoin accounting for the majority at 44.68%, followed by Ethereum and Solana. This round of long positions being wiped out reflects the intense volatility in market sentiment.

More notably, there has been a structural change in the platform. Since December last year, Hyperliquid’s open interest has been steadily increasing, reaching $9.91 billion, which is quite substantial. However, an interesting phenomenon is that the number of active traders has actually decreased, now only 155,000. What does this mean? Positions are becoming more concentrated, with the influence of large traders and institutions expanding, while retail traders’ influence is being diluted. In such a market structure, volatility tends to be more intense, and risks are harder to predict.

BTC-2,57%

ETH-3,22%

SOL-6,17%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

13 Likes

Reward
13
6
Repost
Share

Comment

0/400

WhaleSurfer

· 6h ago

$235 million was cleared in one go, this is the rhythm of big players harvesting retail investors. Fewer and fewer people but more and more money, simply put, big fish eat small fish. 150,000 active traders took in 9.9 billion, how high is this concentration... just thinking about it is scary. Another one-sided slaughter, many people probably lost money on Monday morning. Big players are really ruthless, with such high concentration they still dare to play like this, wiping out a batch of leeks in one wave. This is why some always advise not to use leverage; the risk of structural deterioration is high. No wonder it's the crypto world, always staging a wealth harvesting show.

View OriginalReply0

BoredApeResistance

· 6h ago

235 million dollars lost in one morning, this is the consequence of high leverage Retail investors should have already run, what are they waiting for Big players eat the meat, retail investors drink the soup, Hyperliquid's ecosystem is getting more and more outrageous 155,000 people trading $9.9 billion positions? Isn't this a casino? When the liquidation wave hits, it will wipe everything out. Leverage traders will have to pay the tuition again this time Having such concentrated positions is a ticking time bomb, we'll see who steps on it Longs get liquidated every month, just get used to it The 44% liquidation volume of BTC is outrageous, a rebound could lead to bankruptcy Fewer active traders actually lead to more volatility, this logic is super exciting

View OriginalReply0

MidnightGenesis

· 6h ago

On-chain data shows that the pace of this round of liquidations is highly unusual... 235 million in four hours, with BTC accounting for 44.68%. From the contract deployment time, it is clear that large traders are testing bottom liquidity. My observation is that after open interest surged to 9.91 billion, active traders actually dropped to 155,000, which is abnormal. Based on past experience, what does this structure imply? Retail investors have already been squeezed out. It is worth noting that this highly concentrated position setup, as long as there is a sudden event, will trigger a waterfall of liquidations. No surprise there.

View OriginalReply0

MetaverseHobo

· 6h ago

2.35 billion in one shot, this is the charm of contracts. It’s exciting, but you also lose quickly. Large traders hold concentrated positions, retail traders are just the ones getting cut, no problem. 99 billion in open interest, only 155,000 active traders... how concentrated is that? The contract market is just like this, increasingly resembling a game of big fish eating small fish. This Monday’s liquidation, those who bet right are laughing to death, those who bet wrong are crying all night. Position concentration hits a new high, risk also hits a new high. Some make a killing, others lose everything. Looking at the 99 billion scale, only a few are truly making money. It’s ironic. The 235 million liquidation is probably just the appetizer, feels like there’s more to come. Retail traders’ voice is being diluted... Ah, I am one of those being diluted, haha. When big traders dump, I just buy the dip. That’s my fate.

View OriginalReply0

GasGuru

· 6h ago

235 million directly poured in, retail investors are about to take another hit Big players messing up the market, with such high concentration, how can it be played? Such aggressive liquidation, Monday will again be a bloodbath day Position concentration has broken the record, making it even harder to predict With a volume of 9.91 billion and only 150,000 traders? The whales are playing their tricks Oh my god, it's the same old trick, a game where big players cut retail investors All the bulls have been wiped out, this week's market is truly extraordinary With such significant institutional influence, what can retail investors do?

View OriginalReply0

SybilAttackVictim

· 6h ago

235 million gone overnight, this is the price of playing with leverage Big players cut retail investors, eternal truth 155,000 people guarding 9.9 billion, this concentration is a bit outrageous Monday is another day of cutting losses, so frustrating With such concentrated holdings, volatility can explode at any minute Retail investors are just along for the ride in this environment

View OriginalReply0