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SK Hynix Perpetual Futures Crash 18% on HyperLiquid in 2 Minutes, Liquidations Hit Tens of Millions

Derivatives Data Price Volatility

2026-07-29 05:32:06

SKHY-6.27%

HYPE-0.50%

According to on-chain researchers cited by Park Sang-hyuk, editor of DigiTalAsset, SK Hynix perpetual futures on decentralized exchange HyperLiquid crashed 18% in just 2 minutes on July 28, triggering liquidations worth tens of millions of dollars. Experts attributed the sharp decline to high leverage availability on the platform combined with insufficient liquidity to absorb the selling pressure. TradeXYZ, the operator of HyperLiquid-based stock perpetual futures, announced compensation for affected users but emphasized the need for improved price systems to handle extreme market conditions.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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SK Hynix Perp on Hyperliquid Liquidates $57.4M After Seoul Oracle Anomaly on July 27

In-Depth Analysis

Trade.xyz Compensates Users After SKHYNIX Price Crash on Hyperliquid

Crypto Frontier6h ago

Trade.xyz absorbed SK Hynix’s perpetual contract liquidation loss, and the abnormal pre-market orders in NXT were the root cause.

Market Whisper8h ago

Hyperliquid SK Hynix Perp Drops 17.9%, $57M Liquidated After NXT Oracle Anomaly

Crypto Frontier21h ago

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