What happened with Hyperliquid and $XPL



A wallet linked to Justin Sun recently made headlines after a large trade on Hyperliquid.

Here’s the breakdown:

▪️The wallet went long on $XPL (the token for Plasma’s stablecoin chain) directly on Hyperliquid.

▪️That single move drove $XPL ’s price up by more than 200% on the platform.

▪️ The spike triggered liquidations of short positions, and the wallet ultimately profited around $16 million.

▪️Interestingly, this price move was only visible on Hyperliquid while other exchanges showed no comparable pump.
HYPE-6.36%
SUN-5.32%
TOKEN-1.79%
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