$SNDK is the clearest sign that crypto leverage is no longer only about crypto.
SanDisk-linked perpetuals recorded about $19.5M in liquidations during Asia’s chip-stock selloff more than $XRP . Across venues, SNDK perps later carried roughly $880M in open interest and $3.87B in 24-hour volume.
The important part is the transmission channel. A move in Korean memory stocks or the #NASDAQ underlying can force liquidations on crypto exchanges before a trader even looks at the equity market.
For $SNDKUSDT, the crypto chart is not enough. Watch the underlying stock, Asian semiconductor trading, U.S. market hours and open interest together. That is where the next liquidation risk starts.
SanDisk-linked perpetuals recorded about $19.5M in liquidations during Asia’s chip-stock selloff more than $XRP . Across venues, SNDK perps later carried roughly $880M in open interest and $3.87B in 24-hour volume.
The important part is the transmission channel. A move in Korean memory stocks or the #NASDAQ underlying can force liquidations on crypto exchanges before a trader even looks at the equity market.
For $SNDKUSDT, the crypto chart is not enough. Watch the underlying stock, Asian semiconductor trading, U.S. market hours and open interest together. That is where the next liquidation risk starts.