RESOLVING THE LEDGER
RESOLVING THE LEDGER
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By AIPROPX Editorial Desk · Published · Updated
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Between 23:00 UTC and 23:01 UTC, the price of perpetuals tracking the Seoul-traded stock crashed 20% to $900, according to data from Hyperliquid. The price rebounded to over $1,000 the very next minute and was recently priced at $1,092. The contract is traded and denominated in dollar-pegged stablecoin USDC.
An hour later, the Korean stock market opened on a negative note, led by chipmakers. By the end of the day, SK Hynix shares had dropped by 15% to 1,550,000 won ($1,762). Other losers included Samsung Electronics and carmaker Hyundai Motor. The benchmark Kospi index fell 11%.
SK Hynix ADRs, 10 of which equal one share, fell 4.5% in pre-market trading to $136.51.
Hyperliquid, the leading perpetuals-focused decentralized exchange, has emerged as a hot favorite of traders looking to express their view on traditional assets, especially since the onset of the Iran war in late February. The exchange had not responded to a request for comment by publication time.
Flash crashes on crypto exchanges are quite common, especially between the U.S. market close and the opening of markets in China, South Korea, and elsewhere in Asia, because liquidity tends to be relatively thin compared with other market hours. Liquidity refers to an exchange’s ability to absorb large buy and sell orders at stable prices.
SK Hynix, one of the world’s largest suppliers of high-bandwidth memory (HBM) chips used in Nvidia’s AI processors, has taken a beating this month, falling by nearly 48% from the peak of 1,947 won reached on June 26.
It is not alone. Sentiment for AI stocks has also weakened on Wall Street. On Monday, Nvidia shares slid 5% after a Wall Street Journal report said the AI-chip maker could provide a financial backstop of about $250 billion for an OpenAI-backed data-center project.
1 Apple kept fake bitcoin wallet on App Store after $875,000 theft report, lawsuit alleges 23 minutes ago 2 Bitcoin’s recent stability hasn't been enough to spark a broader altcoin rally 44 minutes ago 3 Bitcoin drops as South Korean stocks tumble, Senate shelves crypto Clarity Act 1 hour ago 4 1inch opens Aqua liquidity protocol across 13 chains 1 hour ago 5 BitMEX and BitMart may be first casualties of crypto trading slump 2 hours ago 6 Inside the CME and CFTC’s battle over onchain perpetual futures 4 hours ago 7 Hong Kong’s central bank puts a number on lenders' quantum preparedness. It's very low. 4 hours ago 8 Live updates: Bitcoin falls back to $63,000 as South Korea's Kospi crashes nearly 11% 4 hours ago 9 Bitcoin slides 2% after U.S. close while Korea’s Kospi plunges 10% 7 hours ago 10 U.S. Senate puts off crypto Clarity Act for now as it focuses limited bandwidth elsewhere 12 hours ago Latest Research Crypto Flows, Share and the Selective Rotation Crypto Flows, Share and the Selective Rotation Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Indexed and credited by AIPROPX. Originating outlet: CoinDesk. Open at source →
An original, deterministic readout — composed only from the computed coverage facts on this page. No interpretation, no rating; figures only.
AIPROPX has consolidated 1 report from 1 outlet into a single canonical entry on “Perpetuals tied to SK Hynix hit by flash crash to $900 on Hyperliquid.” Every covered outlet is based in Other.
The only timestamped report came from CoinDesk (Jul 28, 2026, 10:05 UTC).
1 statement is carried by only one outlet within this set and is not echoed by the others.
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AIPROPX — “Perpetuals tied to SK Hynix hit by flash crash to $900 on Hyperliquid” · https://www.aipropx.com/story/b75e18a71d871c3fbc5d7439a3fe9823
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