SKHX Falls to $973, Down 10.7% on July 29 as Retail Longs Absorb Losses

According to BlockBeats citing Hyperinsight data, on July 29, SKHX fell to $973.06, down 10.7% in 24 hours on Hyperliquid, extending losses following SK Hynix's 14.7% drop in Korean markets. Despite the sharp decline, no million-dollar liquidations have occurred; open interest rose 19.7% to 461,600 contracts worth approximately $449 million, indicating continued buying.

With 2,677 long and 791 short accounts, longs constitute 77% of traders but hold an average position of $81,000 compared to shorts' average $274,000. Small retail accounts, comprising roughly 90% longs under $10,000, are absorbing most losses while large players maintain concentrated short positions.