A single wallet deployed $16 million to ignite a 200% surge in the XPL token on Hyperliquid. The move triggered a liquidation cascade that wiped out a total of $16.6 million in short positions. The trader behind the move secured over $14 million in profit in less than one hour from the trade. A single, massive trade on Hyperliquid ignited a 200% surge in the XPL token in minutes. At 05:35 UTC-4, on-chain data shows wallet 0xb9c0 deployed $16 million in USDC to open a large long position on millions of XPL tokens. The move instantly cleared the order book, lifting the price from $0.60 to $1.80 and forcing a cascade of liquidations across short positions. The trader behind the move secured over $14 million in profit in less than an hour. This explosive event comes as the Hyperliquid rally has accelerated even more. Whale 0xb9c0 deposited 16M $USDC into #Hyperliquid and opened a massive long on $XPL , sending the price soaring to $1.8 and liquidating everyone. He then closed his position and made a profit of over $14M in less than an hour! https://t.co/rBQtbCLtbX pic.twitter.com/LC4evRWkhv — Lookonchain (@lookonchain) August 27, 2025 Was the Trade Linked to … The post $16.6M in Shorts Liquidated in a 200% XPL Rally — Justin Sun’s Hand? appeared first on Coin Edition .