Trading in MRNA perpetuals on Hyperliquid surged after early disclosure of Moderna’s melanoma vaccine data, with three-hour volume reaching about 362,000 contracts, BlockBeats reported, citing TradingBeats monitoring.
Open interest spiked before falling back
The three-hour volume was 9.1 times the prior three-hour total. Rolling 24-hour turnover briefly exceeded $104 million and stood near $94.7 million at publication, while the contract was quoted at $203.33.
Notional open interest rose from about $6.84 million to $20.31 million around 2 a.m. Beijing time, a 197% increase, before falling to roughly $6.27 million. Open contracts moved from 30,500 to 108,800 and then back to 30,900.
TradingBeats identified one account’s 6,310.91-contract MRNA short as the largest reported short, worth about $1.283 million. With an average entry of $188.304, it was showing an estimated $95,000 floating loss after the rebound.