Hyperliquid SpaceX perp flash crashes 45%, liquidating $1.5M across 405 traders
Coindesk •
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Promote with Leviathan NewsHyperliquid's SPACEX-USDH perp plunged from $2,277 to $1,254 in 30 minutes before rebounding near $2,169, wiping out $1.51M across 405 users and 1,393 positions. The market had under $2.9M of OI and only $4.87M of 24-hour volume, so one large sell flow was enough to smash thin liquidity. The ugly part: median liquidated margin was just $31, showing retail traders levering synthetic pre-IPO exposure with no actual SpaceX shares, shareholder rights, or reliable public price benchmark.
TLDR by @Benthic
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