SKHX Falls 7.4% After Reaching $1,353.2 on Hyperliquid

SKHX rose to $1,353.2 on Hyperliquid at 9:15 a.m. today before falling sharply to $1,253.1 at 1:40 p.m., down 7.4% from the high. According to Odaily, SKHX was trading around $1,256.8 at the time of writing, and most of its morning gains had been erased. A whale completed a short position before the session high. According to Odaily, the address sold 2,000 SKHX through 491 trades between 7 a.m. and 9:10 a.m. today at an average price of $1,333.98, with a fee of about $160. At the time of writing, the whale held a 10x isolated short position of 2,000 SKHX, with a position value of about $2.5138 million and an unrealized profit of about $154,200. The return on the position was about 57.8%, and the liquidation price was about $4,120.99. No take-profit or stop-loss orders had been set for the SKHX position. The whale has been described as a medium- to high-frequency short-term trader across multiple assets. Over the past seven days, the address recorded trading volume of about $116 million and profit of $510,300. It previously mainly traded BTC and ETH before shifting to SKHX for the first time in this round.