SILVER futures contracts saw $23.95 million in liquidations over four hours due to significant volatility in the spot silver market. This liquidation volume was surpassed only by Bitcoin and Ethereum. Notably, 64% of these liquidations were long positions, with the majority occurring on the Hyperliquid platform. A major short position in XYZ:SILVER was liquidated for $4.13 million, while a long position liquidation exceeded $1.6 million on the same platform.