XPL tokens returned to $0.69, with a premium on Hyperliquid
The post XPL tokens returned to $0.69, with a premium on Hyperliquid appeared on BitcoinEthereumNews.com.
The XPL boom on Hyperliquid was finally connected to one whale’s wallets, a user known as Techno Revenant. XPL’s recent rally and crash were not caused by TRON’s Justin Sun. Plasma (XPL) continues to be a highly active market on Hyperliquid, with a 20% to 30% price premium. The pre-launch token market is highly affected by a single whale with combined long positions. The whale was identified as user Techno Revenant. Additional research showed Justin Sun was most probably not involved with XPL’s price moves, as Cryptopolitan previously reported. On Hyperliquid, the presence of a large-scale whale with multiple positions also means shorting XPL is extremely risky and may lead to liquidations. XPL whale opened several long positions On-chain Hyperliquid data showed Techno Revenant opened several positions with an estimated notional value of $31.1M. The whale also has $26.5M USDC deposited on the platform, which are not utilized. Long positions on Hyperliquid are increasing, with new whale wallets created in the past few hours. Not all new wallets are linked to Techno Revenant, who is using a dispersed strategy and gradually increasing the positions. Techno Revenant also does not use leverage on the longs. One of the current leading positions has an unrealized profit of $1.4M. The trader has been acquiring the positions relatively slowly, avoiding new rapid price swings. Trader Techno Revenant admitted longing XPL aggressively was not malicious The rapid price action of XPL recalled previous cases of highly experienced whales making use of Hyperliquid’s niche markets to profit off less liquid tokens. In this case, Techno Revenant presented his case as a matter of inexperience and one mistaken order with a higher than intended amount. XPL prices recovered to their usual range, even staging a small rally after the recent whale activity on Hyperliquid. | Source: Coinmarketcap…
Filed under: News - @ August 29, 2025 9:25 am