SKHX, a trading instrument on Hyperliquid tied to SK Hynix, fell sharply after an early rally, according to monitoring data from Hyperinsight. The token climbed to an intraday high of $1,353.2 at 9:15 before sliding quickly around midday, touching a low of $1,253.1 at 13:40, a 7.4% drop from the day’s peak. By press time, it was trading near $1,256.8, giving back most of its earlier gains.
The move came as one whale had already built a short position before the top formed. Between 7:00 and 9:10, the address sold 2,000 SKHX across 491 trades at an average entry price of $1,333.98. Based on a px×sz calculation, the total traded value was about $2.668 million, with roughly $160 in fees.
At press time, the whale was still holding the full 2,000-SKHX short with 10x cross leverage. The position was valued at about $2.5138 million, with unrealized profit of roughly $154,200 and a return of about 57.8%. The liquidation price stood near $4,120.99, and no take-profit or stop-loss orders had been placed. Hyperinsight said the address has historically traded as a mid- to high-frequency short-term account across multiple instruments, posting about $116 million in volume and $510,300 in profit over the past seven days.
SKHX on Hyperliquid, a trading instrument linked to SK Hynix, slid sharply after an early advance, according to Hyperinsight monitoring data. The contract reached a session high of $1,353.2 at 9:15, then dropped quickly around midday. It hit a low of $1,253.1 at 13:40, down 7.4% from the peak. At press time, SKHX was trading at about $1,256.8, with most of the morning gain erased.
A whale built the short before the intraday top
Hyperinsight said one whale completed a short build-up just before this round of highs. From 7:00 to 9:10, the address sold a total of 2,000 SKHX through 491 trades. The average entry price was $1,333.98. Recalculated using px×sz, the notional turnover came to about $2.668 million, and fees were about $160.
As of press time, the whale was still holding a 2,000-SKHX short with 10x cross leverage. The position value was about $2.5138 million. Unrealized profit stood at roughly $154,200, for a return of about 57.8%. The liquidation price was around $4,120.99. No take-profit or stop-loss orders for SKHX had been placed.
Past activity shows a short-term multi-asset trading address
Based on its trading history, the address has been active as a mid- to high-frequency short-term trader across multiple instruments. Over the past seven days, it recorded about $116 million in trading volume and $510,300 in profit. Before this trade, the wallet had mainly focused on BTC and ETH in the crypto market. This round marked its first shift into SKHX.
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