SK Hynix shares briefly fell 30% during a Nextrade pre-market glitch.<\/p>\n
It\u2019s the second such incident in two weeks, following a July 28 crash.<\/p>\n
Earlier crash triggered roughly $60 million in Hyperliquid perpetual liquidations.<\/p>\n
A glitch on South Korea\u2019s alternative stock exchange briefly erased nearly a third of SK Hynix\u2019s market value on paper Thursday, exposing a weakness in the systems that connect traditional stock markets with fast-growing crypto<\/a> derivatives markets.\u00a0<\/p>\n SK Hynix, a Seoul-listed memory chip giant, shares briefly cratered 30% on South Korea\u2019s year-old alternative trading venue on Thursday \u2014 the second such incident since July 28, when a similar glitch triggered a $60 million liquidation cascade on Hyperliquid.<\/p>\n At 8:00 a.m. local time, just 11 shares changed hands<\/a> at 1,168,000 won ($840) each during the pre-market session on Nextrade. The transaction price was about 30% below the previous close on the Korea Exchange, triggering a volatility interruption.<\/p>\n Sponsored<\/p>\n \n Crypto Prediction Markets <\/p>\n 18+ \u00b7 Gambling involves risk. Play responsibly.<\/p>\n The stock quickly recovered, ending Nextrade\u2019s 50-minute pre-market session down about 2%. The move appeared to have little lasting impact on the underlying shares, but it highlighted a vulnerability at the intersection of traditional equities and crypto markets.<\/p>\n The incident closely mirrored a similar episode on July 28, when another small trade on Nextrade caused SK Hynix\u2019s price to briefly fall by the daily limit.\u00a0<\/p>\n That move was reflected in a crypto perpetual futures contract tracking the stock on Hyperliquid, causing the derivative to plunge roughly 20% within seconds and diverge sharply from prices on other venues.<\/p>\n The July incident triggered liquidations across more than 900 leveraged accounts, with on-chain data showing nearly $60 million in positions wiped out and approximately $17.4 million in realized losses.\u00a0<\/p>\n Hyperliquid later said it would compensate affected traders<\/a> and review how external equity prices are incorporated into its pricing system.<\/p>\n Price Feed Risks Expose Weaknesses in Equity-Linked Crypto Derivatives<\/p>\n Thursday\u2019s repeat incident did not appear to trigger a similar wave of liquidations across crypto markets (a bit over $245M liquidated<\/a> over the past 24 hours) but it highlighted a structural weakness that had raised concerns: perpetual contracts tied to real-world equities are only as reliable as the weakest link in their price-feed system.<\/p>\n Crypto perpetual contracts rely on price feeds, often called oracles, to bring external market data onto blockchain<\/a> platforms. In this case, Hyperliquid\u2019s system incorporated a Nextrade price even though the move was based on a limited number of shares changing hands.<\/p>\n The episode renewed concerns over whether equity-linked crypto derivatives should rely on a single trading venue, particularly when that venue has limited liquidity. Thinly traded exchanges may not always provide reliable pricing data for products that can trigger large-scale liquidations.<\/p>\n Nextrade, launched last year as a lower-cost alternative to the Korea Exchange with extended trading hours, uses a single price source rather than data from multiple venues. The company says this approach is common among alternative exchanges, but critics<\/a> warn it can leave markets vulnerable to sharp moves caused by thin trading activity.<\/p>\n Why This Matters<\/p>\n With SK Hynix becoming a key indicator of AI chip demand and a popular asset for leveraged crypto trading, another flash crash could push exchanges to reconsider how they source prices for equity-linked perpetual contracts.<\/p>\n Discover DailyCoin\u2019s trending crypto scoops today: \u00d7<\/p>\n \n DailyCoin’s Vibe Check: Which way are you leaning towards after reading this article?\n <\/p>\n \n Bullish Never miss a market move<\/p>\n Get the biggest crypto stories, price insights, and DailyCoin exclusives in your inbox.<\/p>\n Subscribe<\/p>\n","protected":false},"excerpt":{"rendered":"SK Hynix shares briefly fell 30% during a Nextrade pre-market glitch. It\u2019s the second such incident in two…\n","protected":false},"author":2,"featured_media":110909,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[13301,3114,56881,56880,56882,241,240],"class_list":["post-110908","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sk","tag-blockchain-news","tag-crypto-news","tag-cryptocurrency-news","tag-dailycoin","tag-nft-news","tag-sk","tag-sk-group"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/110908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=110908"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/110908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/110909"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=110908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=110908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=110908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Coldcard Attack Widens: 15 Hackers Drain $130M in Bitcoin<\/a>
HBAR Inks Landmark Deal: The $5.4T Opportunity Is Here<\/a><\/p>\n
\n Bearish
\n Neutral\n <\/p>\n