A big blunder! Hyperliquid $SKYNIX plunged 17.9% this morning, with liquidations in 4 hours surpassing Binance 😨
The trigger was an abnormal order at 7 a.m. on the NXT pre-market trading (1 share traded for 1,272,000 won, about $867), which dropped as much as 30% due to poor liquidity, which subsequently triggered a suspension
Hyperliquid's price plummeted due to Oracle's follow-up, and Binance's price also fell due to arbitrage trading. Now prices have returned to normal, but it's unclear whether liquidated positions will be compensated...
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more