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Six large Hyperliquid orders total about $30.4 million across SKHX, MU, SNDK, SPCX and CXMT

Six large Hyperliquid orders total about $30.4 million across SKHX, MU, SNDK, SPCX and CXMT

TradingBeats tracked staged buy and reduce-only sell orders across five heavily watched names, while SNDK positioning turned more defensive ahead of its Aug. 6 earnings release in Beijing time.

HYPE

Fact Check
Both parts of the claim are directly supported. The $10M SKHX buy-order deposit of 1.448M USDC is confirmed by the primary on-chain analyst source (@ai_9684xtpa X post) and corroborated by BlockBeats flash 359406 and PANews. The three-trader / 158 limit orders / ~$23.676M aggregate figure across SKHX, MU, SNDK is confirmed by BlockBeats flash 359459 (citing TradingBeats monitoring), which provides a precise per-address breakdown summing to the stated total. All numeric details align across sources. The evidence originates from on-chain wallet monitoring rather than an official exchange statement, which slightly limits independent verifiability, but the underlying on-chain data and consistent multi-outlet reporting make the claim likely true.
Summary

TradingBeats said six large Hyperliquid orders across SKHX, MU, SNDK, SPCX and CXMT totaled about $30.442 million, with one fresh SNDK buy order, as traders used limit orders around earnings, lockup and valuation catalysts rather than chasing spot prices. SNDK positioning later became more defensive ahead of the company’s fiscal fourth-quarter and full-year earnings release scheduled for 4:30 a.m. Beijing time on Aug. 6, with addresses holding more than $1 million in positions showing a 0.75-to-1 long-short count ratio and a 0.72-to-1 value ratio, leaving short exposure larger by about $8.517 million. In the latest snapshot, SNDK’s mapped contract traded at $1,334.7, up about 8.4% over 24 hours, with roughly $491 million in turnover and about $126 million in open interest, while the funding rate shifted from a cumulative positive 0.0239% over the previous 24 hours to a cumulative negative 0.0026% since the start of the day.

Terms & Concepts
  • Open interest: The total number or notional value of outstanding derivative contracts that remain open and have not been closed or settled.
  • Reduce-only order: An order that can only decrease or close an existing position and cannot increase exposure.
  • Funding rate: A periodic payment mechanism in perpetual futures that helps keep contract prices aligned with the underlying market by transferring value between longs and shorts.