SK Hynix Liquidates $120 Million New Position, Long Funding Rate Increases by 37.5%

July 30th, according to Hyperinsight monitoring, SKHX is currently trading at $921.3, down about 8% intraday, with a 24-hour trading volume of approximately $15.23 billion. However, as the price continues to decline, funds have not exited, and the open interest value has instead increased to about $5.71 billion.

Yesterday, the open interest value of SKHX increased from $4.43 billion to $5.64 billion, a daily increase of approximately $1.20 billion, representing a 27.2% increase. After further price decline today, the open position size continues to expand.

The long position crowd index is also rising. The current funding rate for SKHX is approximately +0.0431% per hour, with a 24-hour cumulative rate of approximately +0.3948%, a 37.5% increase compared to the previous 24 hours, further raising the long position holding costs.

Among whales with a position value exceeding $1 million, the long/short ratio is about 1.24:1, with the long position value surpassing the short position by approximately $2.82 billion, indicating a bullish bias in both the number of positions and the amount held.

The closer to the top addresses, the weaker the bottom fishing sentiment. The long/short ratio of all holding addresses is about 4.02:1, but among the top 10 addresses with the largest holdings, there are only 3 long positions and 7 short positions, reducing the long/short ratio to 0.43.

The total holdings of the top 10 addresses amount to approximately $172 million, accounting for 30.5% of the open interest value; the current bottom fishing power of SKHX is mainly concentrated in the long tail funds.