harecrypta
Public crypto community, more casts about crypto activities (testnets, NFT, retrodrops, tap-to-earn and etc, but you can make casts about your life (not often) https://t.me/harecrypta_lab_ann
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gladness base.eth pfp
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Renatov 🎩 Ⓜ️ pfp
What's happening on Hyperliquid involving $JELLY? 1.A trader opened a massive $6M short position on JellyJelly (a small coin, ~$20M mcap at the time). And at the same time, he opened a long position. Of course, such a huge position with such a high leverage was immediately liquidated. And what is liquidation? That's right, forced closure of a position. That is, hyperliquid should have bought out these 40% suplay from the order book, thereby pumping the rate to the skies and the trader with the long would have been in the black. A normal exchange does not allow this to happen. 2. At the same time, he opened a long position. Of course, such a huge position with such a high leverage was immediately liquidated. And what is liquidation? That's right, forced closure of a position. 3.Hyperliquid was left holding the toxic short position, currently at a massive loss (-$10M+ PnL). Hyperliquid should have bought out these 40% suplay from the order book 🧵 👇
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