According to @EmberCN, trader @Techno_Revenant realized approximately $38.77 million in profit from XPL liquidations on Hyperliquid, identifying the account behind the gain; source: @EmberCN on X, Aug 29, 2025. The reported payout indicates a major liquidation event in Hyperliquid’s XPL market, signaling elevated short-term volatility and liquidity risk for XPL perpetual positions; source: @EmberCN on X, Aug 29, 2025. Under Hyperliquid’s documented liquidation mechanics, severe price dislocations can widen spreads and transfer sizable value to liquidators during cascade events, warranting tighter risk controls; source: Hyperliquid documentation.