Data: Multiple whales operating on XPL made nearly $38 million in profit in just 1 hour. A user from the "Catch qwatio team" using a 10% hedging strategy still lost $2.5 million

ChainCatcher news, according to Lookonchain monitoring, three giant whale wallets cleared other people's positions in less than an hour by significantly going long on XPL and pushing the price up to $1.8, a rise of 200%, earning nearly $38 million in profit.

A certain wallet address went long on millions of XPL on Hyperliquid after 5:35 AM this morning, directly sweeping the entire order book and squeezing all short positions. Shortly after, he began to close some of his long positions, making $16 million in just one minute.

Meanwhile, the whale hunting team representative @Cbb0fe, who previously targeted insider @qwatio, stated that during this XPL liquidation event, they hedged 10% of their XPL token assets on the HyperliquidX platform, using 1x leverage to short and providing a large amount of collateral for protection, but ultimately still faced a loss of $2.5 million. The user stated, "I will never touch this isolated market again."