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XPL flash crash triggers long liquidations as Hyperliquid HLP vault loses $556,000

NewsFeeds update

XPL fell from $0.086431 to $0.069429, triggering cascading long liquidations, and Hyperliquid's HLP vault took on about 160.4m XPL at an average cost of $0.07592 before closing at $0.0725 for a loss of about $556,000. Sixteen exchange-funded wallets had built long positions of about 269m XPL, worth roughly $23m, since 29 October.

AltcoinsOdailyAIBearish

Read the original on Odaily

The story so far: XPL flash crash and manipulation

XPL fell from $0.086431 to $0.069429, triggering cascading long liquidations, and Hyperliquid's HLP vault lost about $556,000. TradingBeats says cross-chain tracing links the funds behind the 1 November manipulation to the team behind April's XPL flash crash.

  1. XPL flash crash triggers long liquidations as Hyperliquid HLP vault loses $556,000

    XPL fell from $0.086431 to $0.069429, triggering cascading long liquidations, and Hyperliquid's HLP vault took on about 160.4m XPL at an average cost of $0.07592 before closing at $0.0725 for a loss of about $556,000. Sixteen exchange-funded wallets had built long positions of about 269m XPL, worth roughly $23m, since 29 October.

    AltcoinsOdailyAIBearish

  2. TradingBeats says XPL flash-crash funds trace to April manipulation team

    TradingBeats says seven months of cross-chain tracing show the funds behind the 1 November XPL manipulation and liquidation overlap heavily with the team behind April's XPL flash crash. It says the group tends to move on to another token after each operation.

    AltcoinsPANewsAIBearish

More Altcoins updates

  1. Hyperliquid community account says DEXs may gain after Binance theft

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  2. Address loses $6.09m closing BTC, HYPE and ZEC longs, then opens ETH and HYPE longs

    AltcoinsOdailyAIBullish

  3. Unfolded says DeFi weekly revenue has grown more than 3.75-fold in four years

    AltcoinsCoinNessAIBullish

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.