SK Hynix Stocks Plunge 15% as Binance Derivative Trading Hits $2 Billion

SK Hynix stocks fell 15.37% on July 13, closing at 1.845 million won, as Binance's SKHYNIXUSDT perpetual futures contract recorded approximately $2.0609 billion (approximately 3.0962 trillion won) in trading volume between 12:00 AM and 3:36 PM. The decline was driven by Middle East risks from US-Iran tensions over the weekend and supply imbalances following the American Depositary Receipt (ADR) listing. The drop pushed the KOSPI index below 7000 for the first time in two months.

Binance SKHYNIXUSDT Records $2 Billion Trading Volume on July 13

The SKHYNIXUSDT perpetual futures contract on Binance recorded approximately $2.0609 billion (approximately 3.0962 trillion won) in trading volume from 12:00 AM to 3:36 PM on July 13. This figure significantly exceeded the average daily trading volume of approximately $518.65 million (approximately 779.5 billion won) recorded between June 2 and July 12.

The July 13 volume approached the previous record high of approximately $2.17222 billion (approximately 3.2646 trillion won) set on July 8. SKHYNIXUSDT is a perpetual futures product that tracks SK Hynix stock price, a unique derivative instrument in the digital asset market that allows 24-hour trading with high leverage ratios.

SKHYNIXUSDT Ranks Third in Binance USD-M Futures Market

SKHYNIXUSDT ranked third in trading volume within Binance's dollar stablecoin-based futures market (USD-M), trailing only BTCUSDT and ETHUSDT. The surge in trading activity was directly linked to the sharp decline in SK Hynix's physical stock price.

SK Hynix Stocks Close Down 15.37% at 1.845 Million Won

SK Hynix closed trading on July 13 at 1.845 million won, down 15.37% from the previous day. The sharp decline was attributed to renewed Middle East risks stemming from US-Iran tensions over the weekend and supply imbalances following the company's ADR listing. The drop in SK Hynix, a leading Korean stock, also caused the KOSPI index to fall below 7000 for the first time in two months.

FAQ

What trading volume did Binance's SKHYNIXUSDT record on July 13? Binance's SKHYNIXUSDT perpetual futures contract recorded approximately $2.0609 billion (approximately 3.0962 trillion won) in trading volume between 12:00 AM and 3:36 PM on July 13.

Why did SK Hynix stocks fall 15% on July 13? SK Hynix stocks fell 15.37% on July 13 due to renewed Middle East risks from US-Iran tensions over the weekend and supply imbalances following the company's American Depositary Receipt (ADR) listing.

How does SKHYNIXUSDT rank in Binance's futures market? SKHYNIXUSDT ranked third in trading volume within Binance's USD-M futures market on July 13, behind BTCUSDT and ETHUSDT.