Whale Profits Soar as $XPL Skyrockets on Hyperliquid, Raising Manipulation Claims

A dramatic price surge of over 200% for the cryptocurrency $XPL on the Hyperliquid exchange has ignited controversy. This rapid rise, triggered by large-scale buying activity by whales, saw these traders pocket an estimated $48 million in profits. While such volatility is common in crypto markets, the speed and scale of this movement have raised concerns about potential manipulation tactics employed on the platform. On-chain data suggests a handful of prominent wallets amassed positions leading up to the price surge, then liquidated their holdings at peak prices, generating substantial gains. 🕵️‍♂️ 💰