I’ve made a fortune selling every pump on PulseChain when everyone screams hold. Then I secretly complain about the performance in spaces and Telegrams.
It was not Justin Sun, but @technorevenant who made over $38M in less than 20 minutes yesterday on XPL on Hyperliquid.
(He posted a tweet 1 hour after the event, which has now been deleted: https://t.co/ufyjPk2D41)
Between 21:36:05 and 21:51:27, he longed 9,420,787 XPL (worth $5,765,933.07 USDC) in 40 trades, each between $44K and $50K.
Before this, he was already long 54.4M XPL across the three wallets, worth between $31M and $33M, before he started buying this additional amount.
Notably, between 21:36:05 and 21:36:20, he longed 7,288,505 XPL ($4.44M), switching from $44k orders to $444k orders, accounting for 77.37% of the total amount longed in that period. This action pumped the price 10.8% in one minute, from $0.587 to $0.65..
He then allowed the price to retrace to $0.5839 while buying smaller amounts in between. From 21:51:00 to 21:51:31, he started buying in $45K clips, buying 783,211 XPL ($508,689.21), which triggered the first large liquidations at $0.6383. Over the next two hours, a total of $159M was liquidated on the XPL pair across 1,026 users and 2,465 liquidations.
Less than two minutes later, he began closing his longs, starting at 21:53:12 with 111,590 XPL ($123,228.40) at a price of $1.1043. From 21:54:37, his positions started getting auto-deleveraged. In total, 61,405,261 XPL worth $69,458,115.91 was auto-deleveraged between 21:54:10 and 21:55:18 across the three wallets.
https://t.co/3GwjI3EFRD
https://t.co/xibVzuBP2u
https://t.co/i8NiZa3ll2
He has now moved his XPL position to 9 other accounts and is still long and adding, this time applying slower buy pressure using 24-hour TWAPs.
At the time of writing this post (16:19 UTC), he holds $14M worth of XPL, which is roughly 24% of the total open interest on Hyperliquid.
Wallets:
- https://t.co/3GwjI3EFRD
- https://t.co/nGjhV1K8yw
- https://t.co/zbiZEbTvzf
- https://t.co/JgBXocU9G8
- https://t.co/fRQoduF46N
- https://t.co/supEt4f2nO
- https://t.co/P4kDck957I
- https://t.co/QCLXrnQZwm
- https://t.co/ogxI4HUWSm
Please note that all times are given in UTC