XPL tokens returned to $0.69, with a premium on Hyperliquid

The XPL boom on Hyperliquid was finally connected to one whale’s wallets, a user known as Techno Revenant. XPL’s recent rally and crash were not caused by TRON’s Justin ￰0￱ (XPL) continues to be a highly active market on Hyperliquid, with a 20% to 30% price ￰1￱ pre-launch token market is highly affected by a single whale with combined long ￰2￱ whale was identified as user Techno ￰3￱ research showed Justin Sun was most probably not involved with XPL’s price moves, as Cryptopolitan previously ￰4￱ Hyperliquid, the presence of a large-scale whale with multiple positions also means shorting XPL is extremely risky and may lead to ￰5￱ whale opened several long positions On-chain Hyperliquid data showed Techno Revenant opened several positions with an estimated notional value of $31.1M.

The whale also has $26.5M USDC deposited on the platform, which are not ￰6￱ positions on Hyperliquid are increasing, with new whale wallets created in the past few ￰7￱ all new wallets are linked to Techno Revenant, who is using a dispersed strategy and gradually increasing the ￰8￱ Revenant also does not use leverage on the ￰9￱ of the current leading positions has an unrealized profit of $1.4M. The trader has been acquiring the positions relatively slowly, avoiding new rapid price ￰10￱ Techno Revenant admitted longing XPL aggressively was not malicious The rapid price action of XPL recalled previous cases of highly experienced whales making use of Hyperliquid’s niche markets to profit off less liquid ￰11￱ this case, Techno Revenant presented his case as a matter of inexperience and one mistaken order with a higher than intended ￰12￱ prices recovered to their usual range, even staging a small rally after the recent whale activity on Hyperliquid. |