XPL surged 200% on Hyperliquid in a short period of time, as a whale went long, "clearing" the order book and earning $16 million in just 1 minute.

BlockBeats News, August 27, according to @mlmabc monitoring, a wallet address this morning after 5:35 went long with millions of XPL on Hyperliquid, directly sweeping the entire order book and squeezing all short positions. He then began to close some long positions, earning $16 million in just one minute. XPL surged to $1.80 in 2 minutes, a gain of over 200%.

He currently still holds 15.2 million XPL (worth about $10.2 million), and mlm described it as "one of the craziest liquidation events I have ever seen on Hyperliquid."