Bitget market data shows spot silver plummeted more than 35% in a single day on Jan. 30, ending down 26.48% at $85.3. Per Coinglass data, total liquidations across all platforms over the past 24 hours hit $1.382 billion. XYZ:SILVER (mostly traded on Hyperliquid for silver exposure) accounted for $150 million in liquidations, while XAG saw $36.69 million in wiped-out positions. Silver trading has become the third-biggest asset by liquidation volume in the crypto sector, trailing only Ethereum and Bitcoin. Notably, the traditional finance (TradFi) asset has been rolled out widely in the crypto space for less than a month.
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