Hyperliquid's pre-IPO SpaceX contracts suffers 45% flash crash, liquidating $1.5 million
60-second summary
Hyperliquid's pre-IPO SpaceX contracts are experiencing a 45% flash crash, liquidating $1.5 million in a matter of 30 minutes. This sudden selloff has left hundreds of retail traders reeling, highlighting the market's lack of liquidity and the risks associated with trading in thinly traded assets, underscoring the need for caution in volatile crypto markets.
A massive selloff in a SpaceX crypto token wiped out hundreds of retail traders in 30 minutes because the market lacked enough cash to absorb the shock.