Conclusion up front: In the past 24 hours, SAND liquidations totaled $14.53 million, but the number of liquidation trades surged to 11,180. That’s about $1,300 per trade on average—more like small positions being repeatedly swept away.
SAND long liquidations were $5.65 million, while short liquidations were $8.87 million. By amount, shorts took the bigger hit. This is completely different from how major coins like ETH and BTC see long liquidations. Short-side liquidation accounts for 61%, suggesting that in this market move, the positions chasing the dip are more likely to be squeezed out in the opposite direction.
Comparing BTC makes it more intuitive: BTC liquidations were $44.72 million across 2,435 trades, with an average of about $184,000 per trade. SAND’s total amount is only about a third of BTC, yet the number of trades is 4.6 times higher. Don’t just look at the liquidation amount—when the trade count is dense, it often indicates lower-margin positions that are more crowded.
Do you think SAND is a short squeeze, or that the small position hasn’t been fully cleared yet?
$SAND $BTC
Check in real time: https://www.coinboss.com/liquidations