Solana traders experienced over $95 million in liquidations on September 21, 2025, as a widespread crypto sell-off impacted the market. The event underscored the volatility and risks associated with leveraged trading, with Solana's price facing pressure to potentially drop to $200. The sell-off also affected other major cryptocurrencies, with Bitcoin and Ethereum seeing liquidations of $284 million and $500 million, respectively. Tokens such as XRP, DOGE, and ADA recorded declines ranging from 5% to 11%. The situation drew comparisons to previous market corrections, prompting calls for enhanced risk management and potential regulatory adjustments.