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Hyperliquid Price Plunges 17.9% After SKHX Oracle Glitch

Guavy AI Editorial Team
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HYPE
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A recent glitch in the SKHX Oracle triggered a significant price drop for Hyperliquid, a decentralized finance (DeFi) asset. According to reports, the oracle malfunction caused a 17.9% decline in value.

The incident highlights the risks associated with relying on external oracles in DeFi systems. Oracles are used to provide real-time market data and other information that is essential for the functioning of certain DeFi protocols.

The exact cause of the glitch is not specified, but it is clear that it had a significant impact on Hyperliquid's price. The asset's value is now lower than its previous peak.

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