Crypto Whale Makes $16M in 1 Minute on Hyperliquid’s XPL Token
In a stunning and lightning-fast market move, a single crypto whale managed to secure an estimated $16 million in profit in just one minute. The high-risk strategy, executed on the Hyperliquid exchange, not only caused the XPL token’s market to explode but also served as a stark warning to all traders.
Key Metrics at a Glance:
- 💰 Profit: $16 Million
- ⏱️ Timeframe: Under 1 Minute
- 📈 Price Surge: Over 200%
According to reports, the whale initiated the trade by depositing 16 million USDC and opening massive long positions. This aggressive buying pressure effectively wiped out all sell orders in the XPL token’s order book—a technique known as “Order Book Sweep.”
The result? A massive short squeeze was triggered, liquidating traders who had bet against the price. The XPL token skyrocketed from ~$0.58 to $1.80 in minutes, locking in a legendary profit for the whale.
Who Was Behind This Massive Trade? 🕵️♂️
While the trader’s identity remains officially unconfirmed, speculation within the crypto community points to a well-known figure: Justin Sun, the controversial founder of the Tron network. On-chain data linking the wallet to his past activities has fueled these rumors.
But there’s another side to this story. While the whale walked away with millions, the exchange’s liquidity pool (HLP) wallet only earned about $47,000 in fees. This same wallet had previously suffered a $12 million loss in a similar event involving the JELLY token. It’s a harsh reminder that providing liquidity in thinly traded markets is a high-stakes, double-edged sword.
