Five Million-Dollar SKHX Positions Opened This Morning in Capitulation Trade, All Now Underwater

According to BlockBeats citing Hyperinsight monitoring, SK Hynix's stock continued sliding this morning (July 29) after posting earnings, with SKHX (Hynix Korean stock futures on Hyperliquid) trading at $969.93, down 11% in 24 hours. Within an hour of the decline, five whale traders opened or reopened long positions totaling 8,419.75 SKHX contracts worth approximately $8.17 million at a weighted entry price of $981.15.

All five positions are now underwater with cumulative losses of roughly $95,000 as SKHX has dipped below the whales' cost basis. Funding rates show rapid capital inflow into longs; the hourly rate flipped from -0.0855% at 7 a.m. to currently +0.0373%, meaning traders holding $1 million in long positions now pay approximately $373 per hour to shorters.