Individual stock volatility has surged to 3.1 times that of the index, with 365 million accounts potentially redistributing U.S. stock risks?

BlockBeats news, October 26 - According to TradingBeats monitoring, the notional open interest (OI) of US stock-related HIP-3 contracts on Hyperliquid has decreased by approximately $127 million over the past 10 days, dropping from $2.711 billion to $2.584 billion, a decline of about 4.70%.

After excluding the OI contraction caused by price declines, overall position exposure remained essentially flat. However, market capital shifted between sectors and individual stocks. TradingBeats scanned 10 HIP-3 deployers and 365 addresses that had held positions exceeding $1 million, finding that some whales are reducing existing risk and reallocating to different targets, while other accounts continue to expand positions amid the decline. Is this capital retreat, or a surging undercurrent of risk reallocation?

AI Investment Return Doubts Intensify, Tech Stock Risk Allocation Begins to Adjust

This round of position changes coincides with Wall Street reassessing AI investment returns. On October 16, Reuters noted that Deutsche Bank and RBC Capital Markets had respectively lowered their allocation recommendations for the tech sector. Deutsche Bank believes that the earlier concentrated rotation of capital into tech stocks has gone quite far, and the short-term risk-reward ratio is no longer favorable.

Earnings season further reinforced market attention to AI financing costs. On October 22, after Meta announced an upward revision to the lower bound of its full-year capital expenditure guidance, its five-year credit default swap (CDS) spread rose to a historic high of 114.79 basis points. Bank of America strategists Sebastian Raedler and Thomas