Whale kept buying SKHX instead of stopping out
According to BlockBeats on July 7, monitoring data from Hyperinsight shows that the whale address beginning with 0x0ad, which had been identified a day earlier, did not stop out of its position even as Korean semiconductor-related stocks continued to fall. Instead, the wallet added further long exposure after SK Hynix (SKHX) dropped to around $1,400. By the time of publication, the address had opened 97 long orders and accumulated 1,428.571 units in additional purchases, worth roughly $2 million.
Following the latest averaging down, the address’s total SKHX long position increased to 6,523.79 units, equivalent to about $9.024 million in notional value. The average entry price now stands at $1,559.32. Based on the current price of $1,383.30, the unrealized loss on the SKHX position is approximately $1.148 million, indicating the trader remains deeply underwater despite the continued buying.
MU long adds to pressure as combined paper losses top $2.1 million
In addition to SKHX, the same wallet is also holding a long position in MU worth about $7.53 million. That position is currently showing an unrealized loss of roughly $978,000. Taken together, the two semiconductor long positions amount to around $16.554 million in total notional exposure, while aggregate unrealized losses have expanded to about $2.126 million.
Another notable detail is that the address has placed 5,095 SKHX take-profit sell orders above the market, with prices set between $1,604 and $1,615. The notional value of those orders is about $8.184 million. Earlier reports had noted that this trader, described as the largest long holder in SK Hynix, initially built the position with $2.7 million in capital, at which point unrealized losses had already reached $370,000.