{"id":44337,"date":"2025-08-27T12:01:48","date_gmt":"2025-08-27T12:01:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=44337"},"modified":"2025-08-27T12:01:48","modified_gmt":"2025-08-27T12:01:48","slug":"xpl-futures-on-hyperliquid-see-130m-wiped-out-ahead-of-the-plasma-tokens-launch","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=44337","title":{"rendered":"XPL Futures on Hyperliquid See $130M Wiped Out Ahead of the Plasma Token&#8217;s Launch"},"content":{"rendered":"<div>\n<p>The futures market for Plasma\u2019s unreleased XPL token on decentralized exchange Hyperliquid experienced one of its most volatile trading episodes to date overnight, with more than $160 million in open interest wiped out in less than 10 minutes. <\/p>\n<p>More than 80% of outstanding positions were liquidated, collapsing open interest from $160 million to just $30 million while clearing out the entire sell-side of the order book. <\/p>\n<p>One trader <a href=\"https:\/\/x.com\/chunibro\/status\/1960463898680938729\">wrote<\/a> how they were trying to &#8220;hedge their XPL position with 1x leverage,&#8221; only for price to be &#8220;manipulated&#8221; resulting in the loss of $1.4 million.<\/p>\n<p>The price of XPL spiked to as high as $1.80, rising by more than 200% within two minutes to spur a series of massive liquidations. <\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/137c2317097f458700782012b7c0cddd2b691cd8-1722x1140.png?auto=format\" alt=\"XPL\/USD (HyperLiquid)\" title=\"XPL\/USD (HyperLiquid)\"><\/p>\n<p>One trader reportedly triggered the carnage by going long tens of millions of dollars in XPL, effectively emptying the order book and forcing a cascade of auto-deleveraging. <\/p>\n<p>The wallet <a href=\"https:\/\/hyperdash.info\/trader\/0xb9c0283968744b80aef904455bb3dfc7ffd6801e\">netted $16 million in profits<\/a> within a minute of unwinding part of the position, while still maintaining a long exposure of over 15 million XPL worth $10 million.<\/p>\n<p>Another trader, known on X as Techno_Revenant, closed a $20 million long via auto-deleveraging and netted nearly $25 million in gains. Others were less fortunate: &#8220;1x no leverage, account destroyed, only hedging 50% xpl allocation,&#8221; X user StableDruid <a href=\"https:\/\/x.com\/StableDruid\/status\/1960479456071410022\">wrote<\/a>.<\/p>\n<p>The chaos comes just days before the official launch of Plasma\u2019s XPL token. Plasma, a stablecoin-focused blockchain backed by Founders Fund, Framework Ventures, and Bitfinex, recently <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/08\/20\/plasma-s-usd250m-usdt-yield-program-on-binance-filled-in-less-than-an-hour\">filled a $250 million USDT yield program<\/a> on Binance in under an hour.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The futures market for Plasma\u2019s unreleased XPL token on decentralized exchange Hyperliquid experienced one of its most volatile trading episodes to date overnight, with more than $160 million in open interest wiped out in less than 10 minutes. More than 80% of outstanding positions were liquidated, collapsing open interest from $160 million to just $30 [&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-44337","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\/44337","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=44337"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/44337\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}