Micron Outperforms SK Hynix and SanDisk in 30-Day Performance

ME News report, August 7 (UTC+8): According to TradingBeats (formerly Hyperinsight), over the past 30 days, all three major memory stocks on Hyperliquid have declined, but the divergence in performance has continued to widen: Micron (MU) fell 5.7%, SanDisk (SNDK) fell 23.8%, and SK Hynix (SKHX) fell 31.8%. Data from selected on-chain wallet positions suggests that a highly effective trading strategy over this period has been to exploit the performance differential: although MU also declined, it outperformed SNDK by approximately 18.1 percentage points and SKHX by approximately 26.1 percentage points. Price ratio performance over the past 30 days shows: - MU/SKHX rose from 0.6345 to 0.8772, a cumulative gain of 38.3%; - MU/SNDK rose 23.7%; - SNDK/SKHX rose 11.8%. Regardless of whether MU or SNDK is used as the benchmark, SKHX has consistently underperformed. From recent highs, MU, SNDK, and SKHX have retraced by 15.8%, 36.4%, and 38.5% respectively; even when measuring rebounds from interim lows, SKHX has only recovered 14.5%, below MU’s 25.2% and SNDK’s 30.0%. While SNDK exhibits stronger short-term resilience, over the full 30-day period, MU remains the strongest of the three. The weakest performer, SKHX, carries the most crowded leveraged positions. Currently, SKHX’s open interest value stands at approximately $408 million—2.4 times that of MU and nearly three times that of SNDK—with an hourly funding rate of approximately +0.0194%, meaning longs continue paying shorts. In contrast, MU and SNDK have open interests of approximately $172 million and $137 million respectively, with funding rates near zero or negative. As of publication, MU is trading at $883.58, up 0.7% in 24 hours; SNDK at $1,261.70, up 1.1%; SKHX at $1,007.30, down 7.1%. Over the past month, Micron has emerged as the strongest among the three memory stocks, while the heavily leveraged Hynix continues to lag behind. (Source: BlockBeats)