Hyperliquid SKHX Long Holders Cut Losses as Liquidations Mount; $13M Positions at Risk Near $1,300

According to BlockBeats citing Hyperinsight on-chain monitoring data as of July 2, large long holders on Hyperliquid have begun closing SKHX positions as SK Hynix stock price declined. A major whale (0x9dc) liquidated approximately $35.16 million in SKHX long positions, realizing losses of $4.42 million. Another whale (0x4b2) that initiated accumulation yesterday now faces floating losses of approximately $380,000 on its $4.2 million position, with liquidation line currently near $1,351.

24-hour trading volume surged to $585 million as short-sellers covered losses. Multiple large SKHX long positions have liquidation levels clustered around $1,300, creating potential cascade liquidation pressure if prices continue declining.