Bottom line: PONS saw $1.008 million in liquidations over 24 hours, with 97% hitting longs. Nearly all momentum-chasing positions were wiped out.
Long liquidations totaled $972,000, while shorts accounted for just $35,000—a highly one-sided split. The largest single liquidation was $116,000 on Hyperliquid. The top three liquidations were all longs, totaling $279,000, indicating substantial concentration among individual accounts.
Across these 442 liquidations, the average was about $2,280 each, suggesting it wasn't just one or two large trades driving the total. Instead, a series of momentum-chasing positions were forced out. Only $18,000 was liquidated in the 4-hour period, with the main pressure concentrated earlier.
$PONS
Do you think the buyers chasing this PONS rally will keep coming back in?
View in real time: https://www.coinboss.com/liquidations