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Whale Dumps $JELLY: $12M HLP Loss & Hyperliquid Delisting Drama

A crypto whale dumped $4.85M worth of $JELLY, causing a dramatic $12M loss for Hyperliquid’s Hyperliquidity Provider (HLP). The sequence of events unfolded as follows: the whale crashed the price by dumping a large amount of $JELLY, trapping HLP in a short position. As the whale rebuys the token at a lower price, a short squeeze occurs, pushing the price back up. Hyperliquid then delisted $JELLY, closing positions at $0.0095, locking in a $700K profit for themselves.

This incident highlights the risks of market manipulation in low-cap tokens, emphasizing the need for better safeguards on exchanges and greater awareness for traders. In volatile markets, especially with low-liquidity tokens, it’s vital to use strategies like stop-losses and have an exit plan in place.

Key Takeaways:

Whale manipulation can have devastating effects on markets.

Exchanges must enhance protection for traders.

Always stay alert and practice risk management when dealing with volati

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Whale Dumps $JELLY: $12M Hyperliquid Loss & Delisting Drama

A crypto whale made waves by dumping $4.85M worth of $JELLY, leading to a catastrophic $12M loss for Hyperliquid’s Hyperliquidity Provider (HLP). The series of events unfolded as follows: the whale dumped a massive amount of $JELLY, causing the price to crash and trapping HLP in a short position. As the whale later bought back the token at a lower price, a short squeeze ensued, pushing the price back up. Hyperliquid responded by delisting $JELLY and closing positions at $0.0095, locking in a $700K profit for themselves.

This incident underscores the dangers of market manipulation, especially in low-cap tokens. It also serves as a reminder of the need for stronger safeguards on exchanges to protect traders. In volatile markets with low liquidity, it's critical to implement