TradingBeats, formerly Hyperinsight, said on Aug. 19 that open interest in the MU-USDC perpetual contract on Hyperliquid has dropped to roughly $138 million. Compared with nearly $300 million in July, that marks a decline of more than 60% and puts the contract at its lowest open-interest level in almost two and a half months. In the past 24 hours, liquidations were concentrated on long positions, though no notably large liquidation amount was recorded. The top liquidation entries included Kvyadav1:vishnuvamsi.eth at $77,700 around 20 hours earlier, 0x4a...8f7b at $55,900 around 14 hours earlier, and 0x59...7716 at $55,500 around four hours earlier. Position concentration also remained elevated: the largest address held about $9.65 million, or 7% of total open interest; the top five addresses held about $35.92 million, or 26.1%; and the top 10 addresses held about $54.36 million, or 39.5%. TradingBeats also showed MU down nearly 7% over the day, with all liquidations coming from longs and none from shorts.
TradingBeats, formerly Hyperinsight, reported on Aug. 19 that open interest in the MU-USDC perpetual contract on Hyperliquid is currently about $138 million.
Against the nearly $300 million level seen in July, that represents a drop of more than 60%. It also marks the lowest reading for the contract in almost two and a half months.
Long liquidations dominated over the past 24 hours
During the past 24 hours, liquidations in the MU contract were concentrated in long positions, although no notably large liquidation amount appeared.
The liquidation ranking showed Kvyadav1:vishnuvamsi.eth with a $77,700 long liquidation about 20 hours earlier, 0x4a...8f7b with a $55,900 long liquidation about 14 hours earlier, and 0x59...7716 with a $55,500 long liquidation about four hours earlier.
Top holders accounted for a sizable share of positions
In terms of position concentration, the largest address held about $9.65 million, equal to 7% of total open interest. The top five addresses together held about $35.92 million, or 26.1%, while the top 10 addresses held about $54.36 million, or 39.5%.
TradingBeats data also showed MU down nearly 7% on the day, with all liquidations coming from longs and no short liquidations recorded.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
