SK Hynix Whale Suffers 73.5% Loss After 28 Days of Holding

HuoXing Finance reports that, as of July 24, according to Hyperinsight monitoring, the whale address starting with 0x511 continues to hold its long position at the high level of SK Hynix. The address currently holds a 3x leveraged full-position long of 4,034 SKHX contracts, with an average entry price of $1,622.60, a position value of approximately $4.942 million, and a liquidation price of $923.67; it is currently experiencing an unrealized loss of $1.6034 million (-73.5%), making it the largest unrealized loss address for SKHX. This long position was initiated on June 26 at 00:00 UTC+8 and has now been held for 28 days. At that time, SKHX was trading near $1,900; the initial purchase was made at an average price of $1,898.50 for 325.5 contracts—a price now 55.1% higher than the current level. As the price continued to decline, the trader averaged down four additional times at approximately $1,659, $1,678, $1,436, and $1,361. After the final addition on July 15, the position remained unchanged. Holding the position continues to incur costs: since opening, this long has net paid approximately $198,200 in funding fees. The current hourly funding rate is approximately +0.00955%, still favoring longs paying fees; based on the current position size, this equates to an estimated hourly expense of $472. Looking longer-term, this trader has demonstrated notable patience: previous large trades were all long positions mirroring U.S. stocks—Micron held for ~45 days, Marvell for ~29 days, and Cerebras for ~39 days—resulting in a cumulative net profit of approximately $494,500. The same patience that once generated profits now has them holding deeper into Hynix losses... Data shows that on Hyperliquid, SK Hynix (SKHX) today peaked at $1,302.80 before quickly dropping to $1,214.30, intraday retracing by 6.8%.