KOSPI Pre-market: SK hynix's Single Stock Abnormal Low-Price Transaction Triggers Chain Reaction, with SKHX Flash Crashing 17.9% on Hyperliquid

July 28th. According to on-chain analyst Ai Auntie (@ai_9684xtpa), this morning, SK Hynix (SKHX) on Hyperliquid experienced a flash crash of 17.9%, briefly surpassing Binance in total liquidation amount within a 4-hour period.

The cause of this anomaly may have been an unusual transaction in the Korean NXT pre-market. Around 7 a.m. Beijing time, a share of SK Hynix was traded at a price of 1.272 million Korean won, approximately $867. Due to insufficient pre-market liquidity, its stock price plummeted by about 30% and then triggered a trading halt.

Subsequently, the Hyperliquid oracle price followed the decline, causing a rapid drop in the SKHX futures price; prices on Binance also fell due to arbitrage trading. The prices have now recovered, but it remains unclear whether positions liquidated during the period of abnormal fluctuation will be compensated.