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$267 Million in Liquidations Over 24 Hours, Largest on $XPL Trade

The biggest liquidation, valued at $3.89 million, occurred after Justin Sun allegedly manipulated $XPL on HyperliquidX.

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Summary

In the last 24 hours, $267.24 million in liquidations were recorded, with the largest liquidation of $3.89 million tied to a $XPL trade. This was allegedly triggered by Justin Sun's pump-and-dump action on HyperliquidX. The incident happened in a matter of minutes.

Terms & Concepts
  • Liquidation: The process of selling off assets to cover margin calls or debt obligations in trading.
  • Pump and Dump: A scheme in which the price of a cryptocurrency is artificially inflated to attract investors, then quickly sold off, causing the price to crash.