SKHX Surges 23.4% as Whale Loses $5.54M in Short Liquidation

ME News reports that on July 31 (UTC+8), according to Hyperinsight monitoring, during SKHX’s sharp rebound today, a whale wallet starting with 0x890 suffered a liquidation at 08:02, marking the largest single liquidation on the network to date. Data shows that the wallet was forcibly liquidated on 4,892.6 SKHX short positions, with execution prices ranging between $1,126 and $1,140, an average liquidation price of approximately $1,133.6, resulting in a total liquidation value of $5.547 million and a position loss of around $866,000. At the time of liquidation, the SKHX mark price had already risen to $1,146.5. The price continued climbing afterward; as of publication, SKHX is trading at $1,152.5, up 23.4% on the day, with a 24-hour trading volume of approximately $1.558 billion and an open interest of about $451 million. However, this whale did not exit the market after the liquidation. Just 17 seconds after its original short position was fully closed, it reopened a short position on SKHX. Currently, this address holds 770 SKHX short positions with 10x isolated leverage, valued at approximately $887,000, with an average entry price of $1,147.8 and a current unrealized loss of about $3,337. The liquidation price is set at $1,249.99. Compared to the previously liquidated position, the new position size is smaller, but the trading direction remains unchanged. (Source: BlockBeats)