{"id":19419,"date":"2025-03-27T16:04:19","date_gmt":"2025-03-27T16:04:19","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=19419"},"modified":"2025-03-27T16:04:19","modified_gmt":"2025-03-27T16:04:19","slug":"will-hype-crypto-recover-binance-is-jellyjelly-of-hyperliquid","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=19419","title":{"rendered":"Will HYPE Crypto Recover: Binance Is JELLYJELLY Of Hyperliquid"},"content":{"rendered":"<div>\n<p>The HYPE crypto by Hyperliquid, a decentralized perpetual futures platform, has faced turbulence due to a whale manipulation scandal involving JELLYJELLY. Yesterday, Hyperliquid delisted JELLYJELLY after a trader exploited its price, causing a $12 million unrealized loss to the Hyperliquid vault. Binance and OKX then listed JELLYJELLY crypto futures shortly, fishing in a rough water.<\/p>\n<p>How did this happen? The manipulator saw a trader short <\/p>\n<style>\n    .cwp-coin-chart svg path {\n        stroke-width: 0.65 !important;\n    }<\/p>\n<\/style>\n<p>    <span class=\"cwp-coin-widget-container\" data-id=\"jellyjelly-jelly-my-jelly\" id=\"coin_widget_id_67e567ce2ec44\"><\/p>\n<p>        <!-- name of the coin in the text --><br \/>\n        <span class=\"cwp-coin-widget-wrapper\" data-id=\"jellyjelly-jelly-my-jelly\"><br \/>\n            <span class=\"cwp-coin-widget-holder \" style=\"background:#efefef;\"><br \/>\n                <span class=\"cwp-coin-name\" data-id=\"jellyjelly-jelly-my-jelly\"><br \/>\n                    <span class=\"cwp-coin-icon \"><\/span><br \/>\n                    <span class=\"cwp-coin-label \"><\/span><br \/>\n                    <span class=\"cwp-coin-symbol hidden\"><\/span><\/p>\n<p>                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-price hidden\"><\/span><br \/>\n                    <\/span><br \/>\n                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-trend \"><\/span><br \/>\n                    <\/span><\/p>\n<p>                <\/span><br \/>\n            <\/span><br \/>\n        <\/span><\/p>\n<p>        <!-- popup with basic info about the coin --><br \/>\n        <span class=\"cwp-coin-popup-wrapper \" data-id=\"jellyjelly-jelly-my-jelly\" style=\"\"><br \/>\n            <span class=\"cwp-coin-popup-holder\"><br \/>\n                <span class=\"cwp-coin-name\"><br \/>\n                    <span class=\"cwp-coin-icon\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-name\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-symbol\"><\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-price\"><br \/>\n                    <span class=\"cwp-coin-price-title\">Price<\/span><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-price-value\"><\/span><br \/>\n                        <span class=\"cwp-coin-trend-holder\"><br \/>\n                            <span class=\"cwp-coin-trend\"><\/span><br \/>\n                        <\/span><br \/>\n                    <\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-volume\"><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-volume-title\">Volume in 24h<\/span><\/p>\n<p>                    <\/span><br \/>\n                    <span class=\"cwp-coin-volume-value\"><\/span><br \/>\n                    <!-- <span class=\"cwp-coin-trend-holder\">\n                        <span class=\"cwp-coin-trend\">?<\/span> \n                    <\/span>                     --><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-chart\"><br \/>\n                    <span class=\"cwp-graph-title\">Price 7d<\/span><br \/>\n                    <span class=\"cwp-graph-container\"><\/span><br \/>\n                <\/span><\/p>\n<p>            <\/span>           <\/p>\n<p>        <\/span><br \/>\n    <\/span><\/p>\n<p>, dump it on DEXs, and then long it, squeezing Hyperliquid\u2019s vault.<\/p>\n<p>This incident has also raised questions about whether HYPE crypto can recover from its recent 22% drop.<\/p>\n<div class=\"chart crypto-chart-instance\" id=\"crypto_chart_67e567ce2eca2\" data-coin-id=\"hype-hyperliquid\">\n<div class=\"chart__header\">\n<div class=\"chart__info\">\n<div class=\"chart__info-icon\">\n                <img id=\"crypto_chart_67e567ce2eca2-chart__info-icon-img\">\n            <\/div>\n<div class=\"chart__info-name\" id=\"crypto_chart_67e567ce2eca2-chart__info-name\">&#8211;<\/div>\n<div class=\"chart__info-label\">Price<\/div>\n<div class=\"chart__info-label\">Market Cap<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67e567ce2eca2-chart__info-symbol\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67e567ce2eca2-chart__info-price\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67e567ce2eca2-chart__info-marketcap\">&#8211;<\/div>\n<\/p><\/div>\n<div class=\"chart__controls\">\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--24h\" id=\"crypto_chart_67e567ce2eca2-btn-24h\">24h<\/button><br \/>\n                <button class=\"chart__button chart__button--7d\" id=\"crypto_chart_67e567ce2eca2-btn-7d\">7d<\/button><br \/>\n                <button class=\"chart__button chart__button--30d\" id=\"crypto_chart_67e567ce2eca2-btn-30d\">30d<\/button><br \/>\n                <button class=\"chart__button chart__button--1y\" id=\"crypto_chart_67e567ce2eca2-btn-1y\">1y<\/button><br \/>\n                <button class=\"chart__button chart__button--all-time\" id=\"crypto_chart_67e567ce2eca2-btn-all-time\">All Time<\/button>\n            <\/div>\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--logarithmic\" id=\"crypto_chart_67e567ce2eca2-btn-log\">Log<\/button>\n            <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"chart__container\">\n        <canvas class=\"chart__canvas\" id=\"crypto_chart_67e567ce2eca2-cryptoChart\"><\/canvas>\n    <\/div>\n<\/div>\n<h2>The Manipulation and The Market Response to Hype Crypto<\/h2>\n<p>The manipulation began with wallet \u201c0xde96\u201d opening a $6 million short position on JELLYJELLY. Simultaneously, a whale crashed the price on decentralized exchanges, forcing the HLP vault to absorb the short. A new wallet, \u201c0x20e8,\u201d then longed the token, driving its price up and pushing the vault\u2019s losses to $12 million initially.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Address 0xde9\u2026c91 withdrew margin, offloading 398M <a href=\"https:\/\/twitter.com\/search?q=%24JELLY&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$JELLY<\/a> shorts onto Hyperliquid. As <a href=\"https:\/\/twitter.com\/search?q=%24JELLY&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$JELLY<\/a> surged to $0.04, its HLP vault suffered a $10M unrealized loss.<\/p>\n<p>\u2014 XBIT (@XBITDEX) <a href=\"https:\/\/twitter.com\/XBITDEX\/status\/1905099419533619245?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 27, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hyperliquid acted fast, halting trading and delisting the contract. The validators cited \u201csuspicious market activity\u201d and settled 392 million JELLYJELLY at $0.0095, netting a $703,000 profit for the vault. <\/p>\n<style>\n    .cwp-coin-chart svg path {\n        stroke-width: 0.65 !important;\n    }<\/p>\n<\/style>\n<p>    <span class=\"cwp-coin-widget-container\" data-id=\"hype-hyperliquid\" id=\"coin_widget_id_67e567ce2f823\"><\/p>\n<p>        <!-- name of the coin in the text --><br \/>\n        <span class=\"cwp-coin-widget-wrapper\" data-id=\"hype-hyperliquid\"><br \/>\n            <span class=\"cwp-coin-widget-holder \" style=\"background:#efefef;\"><br \/>\n                <span class=\"cwp-coin-name\" data-id=\"hype-hyperliquid\"><br \/>\n                    <span class=\"cwp-coin-icon \"><\/span><br \/>\n                    <span class=\"cwp-coin-label \"><\/span><br \/>\n                    <span class=\"cwp-coin-symbol hidden\"><\/span><\/p>\n<p>                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-price hidden\"><\/span><br \/>\n                    <\/span><br \/>\n                    <span class=\"cwp-coin-trend-holder\"><br \/>\n                        <span class=\"cwp-coin-trend \"><\/span><br \/>\n                    <\/span><\/p>\n<p>                <\/span><br \/>\n            <\/span><br \/>\n        <\/span><\/p>\n<p>        <!-- popup with basic info about the coin --><br \/>\n        <span class=\"cwp-coin-popup-wrapper \" data-id=\"hype-hyperliquid\" style=\"\"><br \/>\n            <span class=\"cwp-coin-popup-holder\"><br \/>\n                <span class=\"cwp-coin-name\"><br \/>\n                    <span class=\"cwp-coin-icon\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-name\"><\/span><br \/>\n                    <span class=\"cwp-coin-popup-symbol\"><\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-price\"><br \/>\n                    <span class=\"cwp-coin-price-title\">Price<\/span><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-price-value\"><\/span><br \/>\n                        <span class=\"cwp-coin-trend-holder\"><br \/>\n                            <span class=\"cwp-coin-trend\"><\/span><br \/>\n                        <\/span><br \/>\n                    <\/span><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-volume\"><br \/>\n                    <span class=\"cwp-coin-price-holder\"><br \/>\n                        <span class=\"cwp-coin-volume-title\">Volume in 24h<\/span><\/p>\n<p>                    <\/span><br \/>\n                    <span class=\"cwp-coin-volume-value\"><\/span><br \/>\n                    <!-- <span class=\"cwp-coin-trend-holder\">\n                        <span class=\"cwp-coin-trend\">?<\/span> \n                    <\/span>                     --><br \/>\n                <\/span><br \/>\n                <span class=\"cwp-coin-chart\"><br \/>\n                    <span class=\"cwp-graph-title\">Price 7d<\/span><br \/>\n                    <span class=\"cwp-graph-container\"><\/span><br \/>\n                <\/span><\/p>\n<p>            <\/span>           <\/p>\n<p>        <\/span><br \/>\n    <\/span><\/p>\n<p> price took a hit, dropping as much as 22% before recovering slightly to trade 10% lower.<\/p>\n<p>This fast response has, in the end, boosted some confidence but exposed vulnerabilities in the Hyperliquid system.<\/p>\n<p>JELLYJELLY, a Solana-based memecoin, had a market cap of $25 million during the fiasco. Its price pumped by close to 500% amid the squeeze, peaking at $50 million before Hyperliquid\u2019s intervention.<\/p>\n<p>In the end, Hyperliquid froze trading and delisted JELLYJELLY, promising to reimburse most users via the Hyper Foundation.<\/p>\n<div class=\"chart crypto-chart-instance\" id=\"crypto_chart_67e567ce2f851\" data-coin-id=\"jellyjelly-jelly-my-jelly\">\n<div class=\"chart__header\">\n<div class=\"chart__info\">\n<div class=\"chart__info-icon\">\n                <img id=\"crypto_chart_67e567ce2f851-chart__info-icon-img\">\n            <\/div>\n<div class=\"chart__info-name\" id=\"crypto_chart_67e567ce2f851-chart__info-name\">&#8211;<\/div>\n<div class=\"chart__info-label\">Price<\/div>\n<div class=\"chart__info-label\">Market Cap<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67e567ce2f851-chart__info-symbol\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67e567ce2f851-chart__info-price\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67e567ce2f851-chart__info-marketcap\">&#8211;<\/div>\n<\/p><\/div>\n<div class=\"chart__controls\">\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--24h\" id=\"crypto_chart_67e567ce2f851-btn-24h\">24h<\/button><br \/>\n                <button class=\"chart__button chart__button--7d\" id=\"crypto_chart_67e567ce2f851-btn-7d\">7d<\/button><br \/>\n                <button class=\"chart__button chart__button--30d\" id=\"crypto_chart_67e567ce2f851-btn-30d\">30d<\/button><br \/>\n                <button class=\"chart__button chart__button--1y\" id=\"crypto_chart_67e567ce2f851-btn-1y\">1y<\/button><br \/>\n                <button class=\"chart__button chart__button--all-time\" id=\"crypto_chart_67e567ce2f851-btn-all-time\">All Time<\/button>\n            <\/div>\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--logarithmic\" id=\"crypto_chart_67e567ce2f851-btn-log\">Log<\/button>\n            <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"chart__container\">\n        <canvas class=\"chart__canvas\" id=\"crypto_chart_67e567ce2f851-cryptoChart\"><\/canvas>\n    <\/div>\n<\/div>\n<p><strong>DISCOVER:<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"noopener\">\u00a09+ Best High-Risk, High-Reward Crypto to Buy in March 2025<\/a><\/strong><\/p>\n<h2>The Good, The Bad, The Ugly: Will Hype Recover?<\/h2>\n<p>On the other hand, Binance and OKX decided to list JELLYJELLY futures during the chaos, which then brought speculation of competitive sabotage.<\/p>\n<p>Furthermore, the culprit of this whale manipulation has freshly funded wallets funded via Binance.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">it would even funnier if this outcome happened bc both JELLY manipulators 0x20e8 &amp; 0x67f were freshly funded via Binance on Arbitrum<\/p>\n<p>0xf5c07ec0acfc371c05a5de9882c8c90bfa1c071fa9356e6710e3db17d5abdd48<br \/>0xf171d527b9a277b895a02ca4b7c5ee081cb94a8932a60eeadbdcb02ea729b524\u2026<\/p>\n<p>\u2014 ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1904902102079410337?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 26, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Listings by Binance and OKX coincided with Hyperliquid\u2019s crypto struggles to capitalize on the chaos. If JELLYJELLY\u2019s market cap had hit $150 million, the HLP vault risked full liquidation, a scenario Hyperliquid narrowly avoided.<\/p>\n<p>As for now, Hyperliquid has pledged technical upgrades to prevent future crypto exploits. Raising margin requirements to 20% for certain positions is one step taken after the earlier ether incident.<\/p>\n<p>The sentiment around HYPE crypto\u2019s recovery is mixed right now. Some praise Hyperliquid\u2019s quick action and reimbursement plan, seeing it as resilience. Others question its decentralized ideology, noting the manual override of JELLYJELLY price and validator vote to delist, showing centralized control.<\/p>\n<p>Meanwhile, data shows Hyperliquid\u2019s total value locked dropped from $283 million to $190 million post-incident. HYPE crypto\u2019s path to recovery hinges on rebuilding user confidence and proving it can withstand whale manipulation.<\/p>\n<p>With Binance and OKX in the mix, competition is getting fierce, but Hyperliquid\u2019s response will pave the way forward.<\/p>\n<p>Whatever is down will go up.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">FUD is annoying, but makes you stronger.<\/p>\n<p>Do the right thing, then let your users choose. You know. <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f64f.png\" alt=\"\ud83d\ude4f\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>\u2014 CZ <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f536.png\" alt=\"\ud83d\udd36\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> BNB (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1582062717447245827?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 17, 2022<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-meme-coin-icos\/\" target=\"_blank\" rel=\"noopener\">Best Meme Coin ICOs to Invest in March 2025<\/a><\/strong><\/p>\n<p><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener nofollow nofollow\"><b>Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/b><\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        How the whale manipulation on JELLYJELLY crypto in Hyperliquid happened, and how the market reacts to it. Binance and OKX fishing on rough crypto water?    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Will HYPE crypto recovers?    <\/li>\n<\/p><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/will-hype-crypto-recover-binance-is-jellyjelly-of-hyperliquid\/\">Will HYPE Crypto Recover: Binance Is JELLYJELLY Of Hyperliquid<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The HYPE crypto by Hyperliquid, a decentralized perpetual futures platform, has faced turbulence due to a whale manipulation scandal involving JELLYJELLY. Yesterday, Hyperliquid delisted JELLYJELLY after a trader exploited its price, causing a $12 million unrealized loss to the Hyperliquid vault. Binance and OKX then listed JELLYJELLY crypto futures shortly, fishing in a rough water. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-19419","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19419"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19419\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}