XPL tokens saw a significant price surge and subsequent crash, fueled by activity on the Hyperliquid exchange. A single whale, identified as Techno Revenant, has been attributed with driving this volatility, but their involvement wasn’t directly linked to Justin Sun, as previously reported. 20% to 30% price premiums are observed in XPL on Hyperliquid, driven largely by a large-scale position held by this unidentified whale. This position, estimated at over $31 million, has been steadily built up by Techno Revenant, despite the potential for high risk and liquidation due to its size. 50% of the traded volume is attributed to long positions from this single whale on Hyperliquid. The activity from this trader hasn’t been directly manipulative or malicious; instead, it was a result of their inexperience with the platform and an error in timing during a period of volatile trading.