Ahead of SK Hynix's ADR listing, crypto has become the second key battleground, with SKHX trading volume reaching 38% of its underlying ordinary shares.

2 hours ago

According to Hyperinsight’s monitoring, SK Hynix’s American Depositary Receipt (ADR) has not yet listed on the Nasdaq, yet the crypto market has emerged as one of the largest trading venues for SK Hynix outside of its primary stock market. In the past trading session, the SKHX contract on the crypto market recorded a trading volume of $3.668 billion, roughly 38% of the concurrent South Korean stock’s spot trading volume of $9.64 billion. Of this, Trade.xyz accounted for around $985 million in SKHX trading; the platform’s total daily trading volume hit $4.93 billion, and SKHX’s current open interest exceeds $360 million. Note: Crypto market transactions are dominated by leveraged contracts, with trading volume calculated on a notional basis; when adjusted for de-leveraging, the actual capital scale will be lower.

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