Micron Falls Again But No Major Long Liquidations, Retail Investors Continue to Buy the Dip

BlockBeats News, July 29th, according to Hyperinsight monitoring, after a 14.7% drop in the South Korean stock SK Hynix yesterday, SKHX on Hyperliquid continued to decline today. At the time of writing, SKHX is trading at $973.06, a 10.7% decrease in the past 24 hours. However, there has not yet been a million-dollar liquidation in the platform, and liquidations above $100,000 have only sporadically occurred.

The sharp drop did not trigger a new round of cascading liquidations. The open interest of SKHX has increased from 385,500 shares yesterday to the current 461,600 shares, a 19.7% increase; calculated at the same marked price, the nominal value of open interest has also increased from around $411.4 million to $449 million, a 9.3% increase. Bargain-hunting funds are still entering the market.

Data shows that SKHX currently has 2,677 long positions and 791 short positions, with long positions accounting for 77% of the total. However, both long and short positions have a nominal value of around $217 million each.

Through this calculation, the average individual short position is about $274,000, which is 3.4 times the average long position of about $81,000. In other words, there are more long positions, but the positions are generally smaller; fewer short positions, but individual short positions are significantly larger; the funding rate is currently +0.036% per hour.

With a larger capital size, the bias is more bearish. Whales holding over $5 million in total hold $73.37 million short and $39.07 million long, with shorts accounting for about 65% and a net short position of about $34.3 million; conversely, among accounts with less than $10,000, approximately 90% of the positions are long.

Although about 74% of accounts are currently at an unrealized loss, the losses are mainly spread among a large number of small long positions, while larger positions are more concentrated on the short side.