Arthur Hayes continues $ETH buying spree: 7,213 coins for $13.87M, now down $301K

According to on-chain analyst Yu Jin’s monitoring, as SK Hynix’s stock price plummeted, the largest SKHX short address on Hyperliquid has seen its unrealized profit expand to approximately $6.1 million. The address shorted SKHX worth about $40.5 million at an average price of $1,275.7, and SKHX has now fallen back to around $1,083. In addition, the address also shorted Brent Crude Oil (BRENTOIL) worth about $19.15 million at an average price of $97.7, with current unrealized profit of roughly $2.43 million.

Hyperinsight monitoring shows that after South Korea’s pre-market trading opened at 7 AM this morning, SKHX on Hyperliquid plunged rapidly from $1,128.2 to $927, with a maximum drop of 17.8% within one minute. As of press time, SKHX has rebounded to $1,097.9, up 18.4% from its low, with a 24-hour trading volume of $891 million. Market participants widely attribute the price anomaly to an oracle capturing extreme trade quotes during South Korea’s pre-market thin liquidity window. However, as of press time, the platform has not yet classified the event as a technical malfunction. More specifically, SKHX’s oracle synced the abnormally low price of South Korea’s NXT pre-market, which was then passed to the mark price, triggering a cascade of long position liquidations. Per trade.xyz’s rules, SKHX’s oracle price is calculated by dividing SK Hynix’s South Korean stock price by the USD/KRW exchange rate, and it accesses external executable quotes during South Korea’s pre-market session. During the liquidation wave, on-chain backup liquidation account 0x400…0001 took over 406 SKHX long positions at 7 AM, totaling around 27,100 contracts, at an average takeover price of roughly $969, with a nominal value of about $26.26 million and generating an realized loss of approximately $1.001 million. As SKHX’s price continued to drop, this backup account—originally tasked with absorbing user risk—was itself reverse-liquidated. The incident saw risk not stop after the position transfer, but instead spread further to the backup liquidation account. Compared to yesterday’s afternoon snapshot, SKHX’s open interest fell from 410,700 contracts to 353,600, a decrease of roughly 13.9%. Calculated at the mark price, the nominal position value dropped from around $508 million to $388 million, a decline of about 23.5%. Address: 0x40000000000000000000000000000000000000001

Many whales have been accumulating $ETH recently. Another newly created wallet (0x49D9) withdrew 2,101 $ETH($3.95M) from #Binance 4 hours ago.

At the opening of the A-share market, the Shanghai Composite Index fell 0.91%, the Shenzhen Component Index dropped 2.25%, and the ChiNext Index declined 3.12%; C Changxin opened down 7.7%.

It seems that Tom Lee(@fundstrat)'s #Bitmine bought another 7,500 $ETH ($14.61M) from #BitGo 5 hours ago.

Driven by concerns over NVIDIA's major AI supply deal and intensifying market competition, investor sentiment soured, leading to sharp declines in Japanese and South Korean stock markets. The Nikkei 225 index fell as much as 4% at one point, hitting its lowest level since May 22; the Topix index saw a maximum drop of 2.7%. South Korea's KOSPI index plunged 7.6% at one point, marking its lowest since April 20. Semiconductor and equipment stocks including Tokyo Electron, Kioxia, Samsung Electronics, and SK Hynix led the declines, all falling by over 9%. Among them, SK Hynix's stock price plummeted 30% at one point, hitting its largest single-day drop in history; Kioxia's price fell 18% at one point, marking its biggest decline since November last year. Amid an AI-related trading wave worth over $750 billion, NVIDIA's credit default insurance costs surged, dragging tech stocks lower. Hideyuki Ishiguro, chief strategist at Nomura Asset Management, said that following reports of NVIDIA's major investment deal, its credit risk has risen, which investors view as a bearish signal. In addition, Ishiguro noted that China's advances in semiconductor manufacturing equipment pose a threat to Japanese suppliers, a sector where Japan has long held a competitive edge. (Jinshi)