XPL Soars 200% on Hyperliquid, Whale Liquidates Order Book with Long Position in Just 1 Minute to Pocket $16 Million

BlockBeats News, August 27th, According to @mlmabc's monitoring, a certain wallet address went long on Hyperliquid this morning at 5:35, buying millions of XPL in the process, directly clearing the entire order book and squeezing all short positions. Subsequently, the trader started closing some long positions, making a profit of $16 million in just one minute. XPL skyrocketed to $1.80 within 2 minutes, marking an over 200% surge.

He currently still holds 15.2 million XPL (worth approximately $10.2 million). Mlm described it as "one of the most insane liquidation events I have ever seen on Hyperliquid."