The $10B liquidation figure floating around is fake, the real number is likely much higher, somewhere in the $30B–$40B+ range.

On Hyperliquid alone, nearly $7B was liquidated. Here’s the full breakdown for anyone interested:

Total liquidations since 20:45 UTC:
- Total Value: $6,702,223,168.08
- Total Backstop: $4,352,720,741.58
- Total Market: $2,349,502,426.49

Breakdown by asset (top 10 by market):
- BTC: $781,848,860.51
- ETH: $539,690,395.94
- SOL: $246,037,906.19
- HYPE: $116,710,437.27
- DOGE: $76,753,273.71
- ASTER: $76,606,241.66
- XRP: $73,144,750.79
- XPL: $43,076,401.99
- ENA: $32,104,013.63
- PUMP: $30,501,142.72

All data is sourced from the Liquidations Telegram. The channel was deleted mid-crash for spamming, but since they log everything separately in their own database, the full dataset is still available.