According to Lookonchain, a whale with 124.6M $JELLY ($4.85M) is manipulating the $JELLY market, causing Hyperliquidity Provider (HLP) to face a $12M loss. The whale initially dumped $JELLY, crashing the market and leaving HLP with a passive short position of 398M $JELLY ($15.3M).

According to Lookonchain, Hyperliquidity Provider (HLP) experienced a loss of approximately $12 million in the last 24 hours due to a market squeeze. The wallet 0xde95 shorted $JELLY on the HyperliquidX platform and subsequently removed the margin, which led HLP to passively liquidate $4.5 million in short positions. Moreover, a newly created wallet, 0x20e8, opened a long position, further impacting the market dynamics. This incident underscores the risks associated with liquidity provision and short positions during volatile trading periods.

According to Lookonchain, Hyperliquidity Provider (HLP) incurred a loss of approximately $12 million in the last 24 hours due to a market squeeze involving $JELLY on HyperliquidX. The user '0xde95' initiated short positions and withdrew the margin, leading to HLP's passive liquidation of $4.5 million in short positions. Concurrently, a new wallet '0x20e8' opened a long position, influencing the market dynamics significantly.

According to Lookonchain, a whale opened a long position of 175,179 ETH ($335.6M) with 50x leverage today. The whale actively closed 14,945 ETH ($28.7M), leaving 160,234 ETH ($306.85M) at risk of liquidation, while making a profit of $1.86M. This move caused Hyperliquidity Provider (HLP) to lose $4M in the past 24 hours.