Hyperliquid delists JELLY JELLY crypto after price spike – $12M vault loss narrowly averted!
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Hyperliquid delisted JELLYJELLY (JELLY) futures after a complex market manipulation event involving a $6M short position, 400-500% price spike, and potential $12M vault loss. A trader strategically forced liquidations, with another wallet profiting $8M. The exchange's force-settlement at $0.0095 averted a complete vault collapse, but raised significant governance and trust concerns.
March 28, 2025 | 7:15 am
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NEGATIVE IMPACT
HYPE token dropped 22% following controversial JELLY token delisting and manipulation incident, reflecting potential loss of user confidence.
The delisting and manipulation controversy directly impacts Hyperliquid's reputation, causing immediate negative market sentiment reflected in HYPE token price drop.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100