Big blunder! Hyperliquid $SKYNIX flashed down 17.9% this morning, with 4-hour liquidation amounts surpassing Binance😨
The cause was an abnormal order in pre-market trading on NXT by South Korea's SK Hynix at 7 AM (1 share traded at 1,272,000 won, about $867), which due to poor liquidity caused a drop of up to 30%, triggering a trading halt.
Hyperliquid's price plummeted following Oracle's update, and Binance's price also dropped due to arbitrage. The price has now returned to normal, but it's unclear if the liquidated positions will be compensated…
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