SK Hynix Plunges 7.4% at Midday, Morning Shorts Near Sixty Percent Profit

BlockBeats News, July 22, according to Hyperinsight Monitoring, Hyperliquid's SKHX reached a high of $1353.2 this morning, then experienced a rapid midday drop, hitting a low of $1253.1 at 13:40, a 7.4% decline from the peak. At the time of writing, SKHX was trading at around $1256.8, with most of the morning gains erased.

A whale successfully shorted their position just before this peak. Between 7:00 and 9:00 today, they executed 491 trades to sell 2000 SKHX, with an average entry price of $1333.98, equivalent to approximately $2.668 million.

As of the time of writing, the whale is holding a 10x leveraged short position of 2000 SKHX, with an unrealized gain of around $154,200, representing a 57.8% return on investment; the liquidation price is about $4120.9. Currently, no take-profit or stop-loss orders have been set for the SKHX position.

Based on historical trades, this whale is a medium- to high-frequency trader focusing on multiple assets for short-term gains. In the last 7 days, the trading volume was around $116 million, with profits of $510,300. Previously, the whale mainly traded in the crypto markets of BTC and ETH, and this time shifted their position to SKHX for the first time.

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