MU open interest on Hyperliquid falls to about $138 million

TradingBeats, formerly Hyperinsight, said on Aug. 19 that open interest in the MU-USDC perpetual contract on Hyperliquid has dropped to roughly $138 million. Compared with nearly $300 million in July, that marks a decline of more than 60% and puts the contract at its lowest open-interest level in almost two and a half months. In the past 24 hours, liquidations were concentrated on long positions, though no notably large liquidation amount was recorded. The top liquidation entries included Kvyadav1:vishnuvamsi.eth at $77,700 around 20 hours earlier, 0x4a...8f7b at $55,900 around 14 hours earlier, and 0x59...7716 at $55,500 around four hours earlier. Position concentration also remained elevated: the largest address held about $9.65 million, or 7% of total open interest; the top five addresses held about $35.92 million, or 26.1%; and the top 10 addresses held about $54.36 million, or 39.5%. TradingBeats also showed MU down nearly 7% over the day, with all liquidations coming from longs and none from shorts.