BlockBeats reported on Aug. 4, citing TradingBeats monitoring, that the largest single-address order holders across five active Hyperliquid tickers — SKHX, MU, SNDK, SPCX and CXMT — had placed six large orders with combined notional value of about $30.442 million. Only one of those was a new position-building order, a lower buy order in SNDK.
SNDK: two-sided setup ahead of Aug. 5 results
SNDK was quoted at $1,292, up 3.4% over 24 hours. Turnover was about $486 million, while open interest stood near $117 million. The name is set to release fourth-quarter and full-year results on Aug. 5. Its hourly funding rate was around -0.0013%, meaning shorts were paying longs.
The top visible order address was 0x0ad9. That wallet was holding a long position of 3,890.8 SNDK, valued at about $5.028 million, with an average entry of $1,287 and unrealized profit of roughly $20,000.
The address placed a new $2.5 million buy order at $1,187 and a $5.435 million reduce-only sell order at $1,397. Those levels sit 8.1% below and 8.1% above the current price, respectively. The placement points to a two-way range strategy around spot ahead of the earnings release.
SPCX: full-position exit order above spot and above IPO price
SPCX was quoted at $115.98, up 6.5% on the day. The name has recently been watched around its first earnings release since listing and an unlock event.
Address 0x0871, the top order holder in SPCX, was running a 20x full-position long of 50,000 SPCX, with position value of about $5.797 million. Its average entry was $126.36, leaving it with an unrealized loss of around $521,000. Liquidation price was about $73.5.
The address placed a $7.65 million reduce-only sell order at $153, covering the full position. That level is 31.9% above the current price, 21.1% above the entry cost, and also above the $135 IPO price. According to the monitored data cited in the report, the trader is still betting on a stronger rebound after earnings or unlock-related bearish pressure is absorbed.
SKHX: waiting for a rebound to exit above cost
SKHX was quoted at $1,072, down 3.6% over 24 hours.
Its top order address, 0x364a, was holding a 2x full-position long of 5,488.2 SKHX, worth about $5.888 million. The average entry price was $1,288.6, with an unrealized loss of roughly $1.184 million.
The address had already placed a reduce-only sell order at $1,305 to close the whole position in one go. The order was worth about $7.162 million. That target is 21.7% above the current price, but only 1.3% above the trader’s average cost, suggesting an exit plan once SKHX rebounds back over breakeven.
MU: trimming near breakeven instead of waiting for old highs
MU was quoted at $830.5, down 1.3% over 24 hours.
The top order address here was also 0x0ad9. It was holding a 2x full-position long of 11,100 MU with position value of about $9.186 million. Average entry was $856.4, and unrealized loss was around $284,000.
The address placed a $4.5 million reduce-only sell order at $860, intending to sell 5,232.6 MU and cut about 47.3% of the position. The order price was only 0.4% above cost, showing the trader was preparing to reduce exposure near breakeven rather than wait for MU to revisit higher levels.
CXMT: take-profit order targets nearly double the entry price
CXMT was quoted at $7.984, up 2.0% over 24 hours.
Address 0x934d, the top order holder in CXMT, was holding a 4x isolated long of 255,600 CXMT valued at about $2.043 million. Its average entry was $6.30, unrealized profit was roughly $433,000, and liquidation price was about $4.30.
The address had placed a $3.195 million reduce-only sell order at $12.5, covering the full position. That level stands 56.6% above the current price and 98.5% above entry cost, indicating a plan to lock in gains at roughly a doubling from the buy price.