XPL Soars and Then Plunges 40%: Top Five Addresses Take $1.6 Million in Profit and Exit, Triggering a $32.99 Million On-Chain Whale Short Position
BlockBeats News, April 3rd, according to Coinglass and Hyperinsight monitoring, this morning, the XPL token price experienced intense volatility. From 1:00 to 5:00, XPL saw a straight-line surge of 42%, reaching a high point of $0.167. However, starting at 5:10, in less than 5 minutes, the price plummeted over 40%, dropping below $0.12, erasing all gains for the day.
Prior to the price surge, five new addresses on Hyperliquid simultaneously deposited funds around 1:00 AM, with each transaction exceeding $200,000, totaling approximately $1.292 million. They then opened heavy leveraged long positions on XPL, likely coordinating with other platforms to inflate the price. During this period, the five addresses saw significant gains, with each doubling their initial investment.
From 4:30 to 4:40, the five addresses withdrew their released collateral along with profits, liquidating their positions, causing the liquidation price to skyrocket towards the liquidation threshold. At 5:10, the five addresses were liquidated simultaneously around the XPL price of approximately $0.12971, triggering a sharp price drop, possibly coordinating to sell-off and exit their positions. The five addresses collectively profited around $1.602 million.
During the surge, several short whales were strategically targeted. Shorts held by addresses (0xbe1), (0x51f), "Mainnet Oil Futures Bears" (0x985), and (0x45d) were all liquidated during the uptrend, with these five short positions having a total liquidation size exceeding $32.99 million.
All funds were traced back to the on-chain address:
0xBc1D9760bd6ca468CA9fB5Ff2CFbEAC35d86c973
Suspected Whale Manipulator Addresses:
1. 0x0e321565595044b32784fc983d38bfe57ddee62c
2. 0x763a5940ccb568e594a9ceb4b1d88d60dec8ea08
3. 0x1b546e2a2f10d30245502d6bdb11bba23719597f
4. 0x1a1cc7a769b233f29e09050fe383a37c46bcdbdf
5. 0xfb8fe47311c92345b8fc152f697212595a778915
