SKHX, identified in the source as Hailishi on Hyperliquid, saw a sharp wick at around 7:00 a.m. Beijing time on July 28, according to monitoring data from Hyperinsight. The token briefly fell more than 17% to $927 before recovering to $1,112.
Community members speculated that the move may have been tied to an oracle malfunction, though no official cause was confirmed in the source. At the same time, overall open interest in the contract dropped by about 20%.
The move was reported by BlockBeats as a market analysis flash update. No additional details on trade size, liquidation data, or platform response were provided in the source text.
SKHX, referred to in the source as Hailishi on Hyperliquid, briefly dropped more than 17% to $927 at around 7:00 a.m. Beijing time on July 28, according to Hyperinsight monitoring cited by BlockBeats.
The price later recovered to $1,112. Community speculation pointed to a possible oracle issue, while overall open interest in the contract fell by about 20%.
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