Four heavily adjusted stock-linked addresses on Hyperliquid have all turned bearish on SKHX since Friday, according to TradingBeats monitoring cited by BlockBeats on Aug. 31.
The four addresses — 0x84ab, 0x269e, 0x2f9b, and 0x4c78 — previously held about $4.215 million in long positions and $3.169 million in short positions combined, leaving them net long by roughly $1.046 million. After the weekend, all four had switched to shorts. They now hold a combined 12,164.76 SKHX short position valued at about $14.775 million.
A 13,035.52-contract shift toward shorts
Across the period, the four addresses moved a combined 13,035.52 SKHX toward the short side. At the current price, that repositioning is worth about $15.833 million.
- 0x84ab was close to flat on Friday, began building shorts on Saturday, and now holds roughly $4.615 million in short exposure.
- 0x269e was still long 2,309.47 SKHX on Friday, closed the long this morning, then reversed directly into a short now worth about $1.393 million. The address realized a loss of about $116,000 during the reversal.
- 0x2f9b flipped directly from a 1,200-contract long to a 1,800-contract short. Its current short position is worth about $2.186 million.
- 0x4c78 was already short on Friday and added further afterward, expanding the position to about $6.581 million.
Price rose over the weekend as the group turned bearish
The concentrated swing to shorts came while SKHX posted a modest weekend gain. SKHX closed at $1,200.9 on Friday and was last quoted at $1,214.6, up about 1.1% since the weekend began.
The weighted average cost of the four existing short positions is about $1,174.54. At current levels, the combined unrealized loss stands at roughly $487,000.
Open interest fell to about $315 million
Nominal open interest in SKHX dropped from about $328.9 million on Friday to roughly $315 million, a decline of nearly 4%.
Among 66 SKHX positions worth at least $1 million, 35 are long and 31 are short, putting the address long/short ratio at 1.13. By notional value, though, the long/short ratio is only 0.71, with net shorts at about $36.755 million. The four highlighted addresses account for about 11.7% of those large short positions.