#JELLYJELLYFuturesAlert $JELLY Meltdown: Whale Dump Triggers $12M HLP Loss & Hyperliquid Delisting
A whale offloaded 124.6M $JELLY ($4.85M), sparking a massive price drop and causing $12M in losses for Hyperliquid’s HLP. In response, Hyperliquid delisted $JELLY, forcefully closing positions at $0.0095—and pocketing a $700K profit in the process.
📉 What Happened?
1️⃣ Whale Dumps Big – A major sell-off sent $JELLY’s price into freefall.
2️⃣ HLP Gets Caught – Hyperliquid’s HLP was forced into a short position, racking up huge losses.
3️⃣ Whale Buys Back Cheap – After crashing the price, the whale re-entered, triggering a short squeeze.
4️⃣ Hyperliquid Delists – The exchange shut down trading on $JELLY, closing all positions at $0.0095 and securing a profit.
⚠️ What This Means for Traders
🔹 Whale Manipulation is Real – Even institutional-grade liquidity providers can be blindsided.
🔹 Exchange Trust Issues – Sudden delistings raise concerns about fairness and trader protection.
🔹 DYOR is Essential – Low-cap tokens like $JELLY are prime targets for manipulation.
This event highlights the risks of trading volatile altcoins and the power both whales and exchanges hold over market movements.