Home›Crypto›Market Structure›Crypto crash liquidation claims face data gaps and ven…

Crypto crash liquidation claims face data gaps and venue disputes

Analysis of public records shows liquidation peaks and totals that differ from a $18 billion figure, with Binance pricing failures and on-chain events also cited.

Reported · Written up by our desk · Market Structure

CryptoSlate reports a Solana-aligned research group, the Solana Research Institute, revived an earlier open letter to UK regulators and estimated about $18 billion in liquidations over 14 hours during an Oct. 10, 2025 crypto crash, including a $3.21 billion liquidation in a single minute.

The outlet says public data allows reconstruction of a major auto-deleveraging event on Hyperliquid and also points to deficits and oracle delays at Aave, while an ESMA review separately argued that Binance internal collateral pricing amplified forced selling, shaping stress across specific market mechanisms.

According to CryptoSlate, Amberdata’s six-exchange analysis placed the $3.21 billion peak at 21:15 UTC and said 93.5% of liquidations in that minute came from forced selling, but it reported $9.89 billion for the full 14-hour window, including $6.93 billion between 20:50 and 21:30 UTC.

The article argues the issue is not a simple calculation error, but a measurement gap, noting that Solana Research Institute’s $18 billion total cannot be reconciled with Amberdata’s $9.89 billion due to a lack of a common venue universe or aggregation method, and it adds that regulators need comparable records to distinguish auto-deleveraging from other sources of disruption.

Latest closeSolana $75.40 ▲0.1%

More like this

Sources