According to @ai_9684xtpa, XPL perpetuals listed on Hyperliquid when a trader identified as @Techno_Revenant rapidly drove price higher and realized about $38 million profit in roughly 20 minutes. According to @ai_9684xtpa, the trader stated the spike was accidental due to sleep deprivation and that it was only his fifth perpetual futures trade. According to @ai_9684xtpa, the incident highlights extreme short-term volatility and concentration risk in newly listed decentralized perpetual markets like Hyperliquid, which is directly relevant for XPL traders.