ChainCatcher news, according to @mlmabc monitoring, a certain wallet address went long on several million XPL on Hyperliquid after 5:35 AM this morning, completely emptying the entire order book. Shortly after, he started to close some of his long positions, making 16 million dollars in just one minute. XPL skyrocketed to 1.8 dollars within 2 minutes, an increase of over 200%.

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