Data: XPL surged 200% on Hyperliquid in a short period, a whale made $16 million in just 1 minute by going long and “clearing out” positions.

According to ChainCatcher, monitored by @mlmabc, a certain wallet address went long on millions of XPL on Hyperliquid after 5:35 this morning, directly sweeping the entire order book. Afterwards, the user began to close part of the long positions, earning $16 million in just one minute. XPL surged to $1.8 within two minutes, an increase of over 200%.

He currently still holds 15.2 million XPL (worth about $10.2 million). mlm commented, "This is one of the craziest liquidation events I've ever seen on Hyperliquid."