Hyperliquid’s SK Hynix and Samsung Tokens Slide as Leveraged Long Whales Face Deepening Losses

SK Hynix (SKHX) and Samsung Electronics (SMSN) tokens on the Hyperliquid platform fell over the past 24 hours, with SKHX at $1,672, down about 3.5%, and SMSN at $208.7, down about 5.8%. According to BlockBeats On-chain Detection, Hyperinsight monitoring showed leveraged long positions—especially those opened near recent highs—were among the hardest hit during the sell-off. For SK Hynix, an address labeled 0x9dcf opened a 2x leveraged long on June 24 at $1,820.64 with a position size of $29.09 million. As prices retreated, the position showed an unrealized loss of about $1.77 million, roughly 16% of margin, including a single-day drawdown of $2.2 million. For Samsung, multiple long positions were also underwater, with several entries clustered around an average entry range of $217 to $226, all above the current price. The deepest loss was reported at nearly 40% of margin, and an address labeled 0x053f was said to have added a long position as recently as yesterday. Positioning in SK Hynix was described as overall bearish among large holders, with short notional exposure about 1.49 times long exposure. The average long entry was around $1,608, while the average short entry was around $1,654, leaving the current price between the two and pressuring both high-entry longs and low-entry shorts. The report said Samsung Electronics and SK Hynix announced chip capacity expansion plans on June 29 totaling 714 trillion won, with up to 1.43 quadrillion won over 10 years, but the news did not prevent continued selling. It also cited broader pressures, including South Korea not being selected for MSCI developed-market status, capital outflow concerns nearing a tipping point, the won falling to a 17-year low, U.S. PCE inflation rising to 4.1%—a three-year high—AI bubble worries, and macro headwinds. In addition, leveraged single-stock ETFs for Samsung and SK Hynix approved in May were said to have contributed to forced liquidations.