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Reading: Brent crude contracts drive major liquidations on Hyperliquid after U.S.-Iran tensions
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COINTURK NEWS > Cryptocurrency News > Brent crude contracts drive major liquidations on Hyperliquid after U.S.-Iran tensions
Cryptocurrency News

Brent crude contracts drive major liquidations on Hyperliquid after U.S.-Iran tensions

In Brief

  • Tokenized Brent oil futures on Hyperliquid saw the crypto market’s largest liquidations in 24 hours.

  • U.S.-Iran tensions and President Trump’s sanctions speech triggered sharp price swings in oil.

  • Crypto investors faced major losses as geopolitical volatility spilled into digital assets.

Fatih Uçar
Fatih Uçar 2 weeks ago
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A striking development has emerged in the cryptocurrency market over the past 24 hours, as the largest liquidations did not stem from Bitcoin or Ethereum, but instead from tokenized oil futures. Brent crude oil contracts traded on the Hyperliquid platform stood out for the sheer size of their forced liquidations, drawing attention to the expanding impact of traditional commodities in the digital asset sphere.

Contents
Tokenized oil futures overtake crypto in liquidationsGeopolitical uncertainties trigger sharp price swings

Tokenized oil futures overtake crypto in liquidations

Data from CoinGlass revealed that the total volume of liquidated positions across the crypto market hit $403 million over the past day. Notably, $46.6 million of these losses were attributed to tokenized Brent crude oil futures traded on Hyperliquid. This placed oil contracts just behind Ethereum and Bitcoin in terms of liquidation size, ranking third overall. The top four most liquidated assets by position volume were Ethereum, Bitcoin, Brent crude, and Solana, in that order.

Of all the liquidations, the largest single liquidation event also came from a Brent crude contract. On the Hyperliquid exchange, one user’s $17.17 million oil position was forcibly closed. This marks the second instance of a major individual oil-related liquidation within the past month, underscoring how traditional market instruments, when tokenized, can bring pronounced volatility into the crypto ecosystem.

Geopolitical uncertainties trigger sharp price swings

The BRENTOIL-USDC contract on Hyperliquid traded at $107.19 over the past 24 hours, posting a nearly 2% increase with a trading volume totaling $977 million. Open interest in these contracts reached $515 million, surpassing the total market capitalization of many mid-sized crypto assets and highlighting the growing significance of tokenized commodities within digital markets.

The roots of the market turbulence lay in a national address by U.S. President Donald Trump. His comments indicating “heavy sanctions” would be imposed on Iran shifted the prevailing market sentiment away from hopes of de-escalation. Following Trump’s statement, the price of Brent crude rapidly climbed by 5%, breaching the $106 threshold in conventional markets.

Investors who had anticipated a decline in oil prices on the expectation of a ceasefire, as well as those looking for gains from rising cryptocurrencies, found themselves on the wrong side of swift price reversals. Many traders with positions opened on both sides suffered significant losses as the market moved abruptly against them.

The number of liquidated positions topped 137,000, with long positions accounting for the majority—about $234.6 million. Short positions saw $168.7 million in liquidations. Importantly, in the four hours after Trump’s speech, total liquidations spiked to $153.7 million, of which $130.8 million involved long positions, reflecting the market’s sharp response to geopolitical headlines.

Hyperliquid distinguishes itself from conventional cryptocurrency exchanges by offering access to tokenized derivatives of assets like oil and gold. Thanks to its always-open marketplace, the platform allows investors to react instantly to geopolitical and macroeconomic developments without the limitations of traditional market hours.

In recent months, tokenized oil contracts have repeatedly ranked among the top five in terms of liquidations following periods of military conflict. The innovative products provided by Hyperliquid have prompted many crypto investors to rethink their approach to risk and opportunity amid an evolving and volatile trading landscape.

You can follow our news on Telegram, Facebook & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 2 April, 2026 - 8:02 am 2 April, 2026 - 8:02 am
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