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Airat Khuzeev
@williamshankly
🐹 Major players continue to manipulate HyperLiquid, a decentralized trading platform for derivatives. One of the whales opened a short for 400 million JELLY tokens (40% of the total supply), then withdrew the collateral and liquidated his position himself, opening a large long. As a result, HyperLiquid automatically closed the short by buying tokens at a higher price, which led to a floating loss of about $10 million. After that, the JELLY pump began in order to liquidate the HyperLiquid position in the amount of more than $200 million. For this to happen, the price had to be raised to $0.17 (at the peak it was $0.06). In addition, Binance and OKX announced the listing of JELLY on futures. HyperLiquid closed a short with a profit of $700,000 and stopped trading in the token. The manipulation failed.
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