Odaily Planet Daily News According to the monitoring of on-chain analyst @ai_9684xtpa, the Hyperliquid Vault has suffered a floating loss of $10.63 million due to the automatic liquidation of the $5 million JELLYJELLY short position received by traders. If the counterparty raises the price of the coin to around $0.17 (currently $0.16004), the vault will face liquidation and lose the $240 million currently held. It seems that funds have been deliberately raising the price of JELLYJELLY, which has risen by 230% in the past hour. What's worse is that the funds of Hyperliquid Vault seem to be decreasing, which will further squeeze the liquidation price.
In addition, according to X platform user @DamianProsa, this move is suspected to be a conspiracy of JELLY token market makers, who sent 12.6% of the token supply to Hc8gNSMaQiahiRiGjUfTaW8AXudRJHeGoeGpAn8WRGwg, and $500 worth of tokens were sold every few seconds; this address holds 65% of the entire liquidity pool. If it sells all, the price of JELLY tokens will fall sharply, and the project may fall to $5 million again.
Alex
