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A whale offloaded $4.85M worth of $JELLY, triggering a massive $12M hit to Hyperliquid’s HLP. In response, Hyperliquid delisted $JELLY. What led to this chaos? Here’s a full breakdown.
💥 The $JELLY Crash—What Happened?
A whale holding 124.6M $JELLY ($4.85M) executed a pump-and-dump, disrupting liquidity and dealing a major blow to Hyperliquid’s HLP. Here’s how it all unraveled: