SK Hynix Token Drops 6.3% After Brief Rebound, Data Show

SK Hynix (SKHX) fell as much as 6.3% after the market opened on July 1, following a modest rebound the previous day, according to Hyperinsight monitoring. According to BlockBeats On-chain Detection, SKHX was quoted at $1,655 on Hyperliquid, with 24-hour trading volume of $430 million, ranking first among TradeFi perpetual contracts. On-chain positioning leaned bearish, with open interest reaching $320 million. Large short positions had a notional size of about $111 million, around 1.44 times the size of large long positions at $76.9 million. The average entry price for longs was about $1,784.57, compared with about $1,649.88 for shorts. A major long trader identified as 0x9dc, using 2x leverage and opening the position on June 24 at $1,803.76, faced pressure as prices stayed elevated. The position size reached $31.68 million, making it the largest current long, and its unrealized loss expanded to $3.48 million over two days.