#JELLYJELLYFuturesAlert A large investor (whale) holding 124.6M $JELLY ($4.85M) performed a pump-and-dump, causing a $12M loss for Hyperliquid’s Hyperliquidity Provider (HLP). Here's how the situation played out:

1️⃣ Whale dumps $JELLY, causing the price to crash.

2️⃣ HLP gets stuck in a short position, taking big losses.

3️⃣ Whale buys back cheap, starting a short squeeze.

4️⃣ Hyperliquid delists $JELLY, closing positions at $0.0095, locking in a $700K profit for itself.