FOGO on Hyperliquid Surges 550%, New Address Makes Around $500,000 Profit in Half an Hour

BlockBeats News, December 25th, According to MLM Monitor, on Hyperliquid, a short (pre-market) position worth about $1.49 million of FOGO was just liquidated in 15 minutes as FOGO skyrocketed by 550%.

This chain liquidation also triggered an Auto-Deleveraging (ADL) event in a long position wallet, locking in approximately $500,000 in profit in less than 30 minutes. Notably, this wallet had established a long position via TWAP only about 7 hours ago and was using a newly created wallet address.
Address link: https://hypurrscan.io/address/0xb2f42334fffc3947b4c79c7e3dc3d387d391f148

The largest single liquidation came from a wallet that was still attempting to short FOGO during the liquidation process (adding fuel to the fire). The wallet's isolated short position was liquidated by the system in 10 minutes, resulting in a loss of approximately $100,000 USDC collateral on a position with a nominal value of $224,000.
Address link: https://hypurrscan.io/address/0x4013eb7da81902a556146861dc50e9c0f515238d