One Bad Price, 960 Liquidations: Inside SK Hynix Flash Crash on Hyperliquid
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The xyz.SKHYNIX perpetual on Hyperliquid crashed about 20% late Monday, plunging from $1,131 to as low as $900 and fully decoupling from prices on other exchanges. On-chain forensic data attributes the cascade to a single share trade executed from Seoul, highlighting systemic risk for perpetual derivatives, DEX/CEX price feeds and potential liquidation contagion in crypto markets.
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The xyz.SKHYNIX perpetual on Hyperliquid crashed around 20% almost instantly late on Monday night, dropping from $1,131 to as low as $900, completely decoupling from pricing elsewhere on crypto exchanges.
On-chain data indicates that the entire cascade stems from a single share trade placed from Seoul.
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In This News
Coins
$ 55.32
-3.97%$ 1.06K
-6.22%Predictions Markets
See what traders are focused on
Share:
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