CoinDesk·3 min read·hard
Perpetuals tied to SK Hynix hit by flash crash to $900 on Hyperliquid
O
Omkar Godbole
✦AI Summary
SK Hynix perpetuals experienced a 20% flash crash on the Hyperliquid exchange, reflecting broader volatility in AI-linked stocks. The decline coincides with a general market downturn for chipmakers and concerns over AI sector valuations.
Between 23:00 UTC and 23:01 UTC, the price of perpetuals tracking the Seoul-traded stock crashed 20% to $900, according to data from Hyperliquid. The price rebounded to over $1,000 the very next minute and was recently priced at $1,092. The contract is traded and denominated in dollar-pegged stablecoin USDC.
economycryptotechnology
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