HLP earned approximately $47,000 this morning during the XPL price surge, after previously losing nearly $12 million during the JELLY price anomaly.

BlockBeats News, August 27th, according to on-chain data, HLP earned about $47,000 during an XPL anomaly this morning, with a monthly annualized return rate of 14%. A whale made a long position of millions of XPL this morning from 5:00-6:00, directly sweeping the entire order book and squeezing all short positions. He then started closing part of the long positions, making a profit of $16 million in just one minute. XPL skyrocketed to $1.80 within 2 minutes, with an increase of over 200%.

BlockBeats previously reported that on March 26th, a whale holding 126 million JELLY tokens was manipulating the price of JELLY. The address first sold off JELLY to crash the price, allowing HLP to have a passive short position of 398 million JELLY (worth about $15.3 million). Then the address bought back JELLY, causing the price to surge, resulting in HLP losing nearly $12 million.

Subsequently, users of Hyperliquid holding long positions on JELLY at settlement time will be refunded by the foundation at the settlement price of 0.037555 and the trading pair will be delisted. At the same time, they have updated their leverage system and HLP liquidation mechanism.