DeFiBearishBlockonomi · 10h ago7/10
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SpaceX Synthetic Contract on Hyperliquid Plunges 45% in Half Hour, Erasing $1.5M
Hyperliquid's SpaceX synthetic perpetual contract experienced a severe 45% price collapse within 30 minutes, liquidating 405 traders and erasing $1.51 million in value. The dramatic crash was driven by extremely thin liquidity in the market, highlighting significant risks in trading synthetic assets on decentralized derivatives platforms.