The SpaceX–USDH perpetual contract on Hyperliquid plunged nearly 45% last night, triggering approximately $1.51 million in liquidations.
According to CoinDesk, Hyperliquid’s synthetic perpetual contract SPACEX–USDH—pegged to SpaceX’s valuation—plummeted from $2,277 to $1,254 within 30 minutes around 11 p.m. Beijing time on May 28, a drop of nearly 45%, before partially rebounding to approximately $2,169.
