Multiple Whale Manipulation Causes XPL Price to Skyrocket, Netting Nearly $38 Million in Profits in Just 1 Hour

BlockBeats News, August 27th, according to LookIntoChain monitoring, through heavily longing XPL and pushing the price up to $1.80, three whale wallets cleared out others' positions in less than an hour, earning nearly $38 million in profit.

BlockBeats reported earlier today that a wallet address longed for millions of XPL on Hyperliquid this morning after 5:35, directly sweeping the entire order book and squeezing all short positions. He then started closing some long positions, earning $16 million in just one minute. XPL skyrocketed to $1.80 within 2 minutes, with an increase of over 200%.