Hyperliquid SKHX Drops 17.9% with $40.5M Short Position Dominance

SKHX price plunges 17.9% as largest short seller opens $40.5M position. Liquidations surpass Binance levels, signaling intense bearish pressure on the asset.

Woofun AI reports that Hyperliquid's SKHX token declined 17.9% in early trading, triggering liquidations that exceeded Binance's four-hour volume. The platform's largest short seller has accumulated a $40.5 million short position, unrealized profits of $6.1 million.

Meanwhile, trade.xyz reached multiple all-time highs with $408.4 billion in cumulative volume. In regulatory news, South Korea's Financial Services Commission mandated that single-stock leveraged ETF rebalancing trades be distributed throughout the trading day. Multicoin co-founder Kyle Samani criticized his former firm, stating it would block any projects building on Solana. Lighter's founder confirmed that all economic value will flow to the token following the conversion of equity to token structure at TGE. Cathie Wood noted that despite SpaceX falling below its IPO price, the bull market remains active.