5 Million-Dollar New Positions All Buy the Dip on SK Hynix, Currently All in the Red

BlockBeats News, July 29th, according to Hyperinsight monitoring, SK Hynix continued to fall after announcing its performance this morning. At the time of writing, the Hyperliquid SK Hynix KRW stock mapping contract, SKHX, was priced at $969.93, with a 24-hour decline of about 11.0%.

Less than an hour after the steep plunge, the platform saw 5 new, reopening, or adding to long positions worth millions of dollars each, all long positions, totaling 8419.75 SKHX long positions with a value of approximately $8.167 million and a weighted entry price of $981.15.

Currently, SKHX has fallen below the overall cost line of the aforementioned whales. All 5 long positions are underwater, with a total loss of about $95,000. The most recent liquidation price was $930.62, about 4.1% away from the current price.

The funding rate shows a rapid influx of bottom-fishing funds. SKHX's hourly funding rate was -0.0855% at 7 am this morning, turning positive quickly after the financial report was released. The current real-time estimate has risen to 0.0373%.

Based on the current rate, a $1 million long position needs to pay shorts about $373 per hour. The funding rate quickly reversed, and long trades after the sharp decline are significantly crowded, but the price has not yet stopped falling.