Santiment Reports 85% Crash in Humanity Protocol (H) Amid Heavy Deleveraging

Crypto analytics firm Santiment reported that Humanity Protocol (H) saw a sharp decline on June 8, falling around 85% within a six-hour window following a reported private-key compromise. During the selloff, the token dropped from roughly $0.72 to $0.10.

Santiment’s on-chain data indicates that market positioning had become heavily leveraged before the move, with open interest rising to about $370 million.

As the price began to break down, that leveraged positioning quickly unwound. Open interest then fell by nearly 80% to around $29 million, while funding rates flipped to roughly -2%, signaling a rapid shift in positioning.

At the same time, exchange activity surged, with approximately $22.8 million in H tokens flowing onto trading platforms as the sell-off accelerated.

Source: Santiment