Open interest splits on Hyperliquid as MU and SKHX shrink while SNDK adds exposure

News Editor

2026-08-03 04:55:29

Open interest in three storage-related contracts on Hyperliquid moved in different directions over the past day, according to monitoring data from Hyperinsight cited by BlockBeats on Aug. 3. Micron (MU) saw open interest fall by about $39.372 million to $173 million, while SK Hynix (SKHX) dropped by about $64.124 million to $352 million. Combined, the two contracts lost roughly $103 million in open interest, with declines of 18.5% and 15.4%, respectively. SanDisk (SNDK) moved the other way. Its open interest rose from about $88.122 million to $120 million, an increase of $32.114 million, or 36.4%, making it the only one among the three storage names to post an expansion in positions. Over the same 24-hour period, SNDK gained about 0.6%, compared with a 0.3% rise in MU and a 1.1% decline in SKHX. Large-address positioning also diverged. SNDK’s new positioning leaned long, with one address adding about $2.515 million in long exposure and no single-address reduction in longs or new short larger than $1 million. MU posted a net long increase of about $841,000 across large addresses, but new short additions totaled about $2.858 million, tilting incremental flow to the short side. SKHX saw no new large addresses, while existing whales continued to deleverage.

Open interest in storage-related contracts on Hyperliquid diverged over the past day, according to Hyperinsight data cited by BlockBeats on Aug. 3.

Micron (MU) posted a drop of about $39.372 million in open interest, bringing the total down to $173 million. SK Hynix (SKHX) fell by about $64.124 million to $352 million. Together, the two contracts lost about $103 million in open interest, with declines of 18.5% for MU and 15.4% for SKHX.

SanDisk (SNDK), by contrast, expanded. Its open interest rose from about $88.122 million to $120 million, up by $32.114 million, or 36.4%. That made SNDK the only one among the three storage names to record an increase in positions.

Price moves over the same period

In the last 24 hours, SNDK gained about 0.6%, MU rose about 0.3%, and SKHX fell about 1.1%. On that basis, SNDK outperformed MU by about 0.3 percentage points and SKHX by about 1.7 percentage points.

How large addresses adjusted positions

For SNDK, new positioning leaned long. Over the past 24 hours, one address added about $2.515 million in SNDK longs, and Hyperinsight did not detect any single address cutting longs by more than $1 million or opening a new short above that threshold.

For MU, two addresses added a combined $3.428 million in long exposure, while two other addresses reduced longs by $2.587 million, leaving a net long increase of about $841,000. Over the same period, two addresses opened about $2.858 million in new short positions, which left incremental flow tilted to the short side.

For SKHX, there were no new addresses. Existing whales continued to deleverage. Million-dollar addresses cut longs by a net $6.811 million, while short positions were reduced by a net $9.208 million.

Current long-short balance among top addresses

MU: 14 long addresses and 18 short addresses, with about $46.108 million in long value versus about $66.543 million in short value.
SKHX: 37 long addresses and 42 short addresses, with about $104 million in longs versus about $136 million in shorts.
SNDK: 12 long addresses and 10 short addresses, with about $37.441 million in long value, still below about $46.782 million in short value.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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