XPL Soars and Flash Crashes by 40%: Top 5 Insider Addresses Take $1.6M Profit and Exit, Triggering a $32.99M On-Chain Whale Short Position

BlockBeats News, April 3rd, according to Coinglass and this morning, the XPL token price experienced intense volatility. From 1:00 to 5:00, XPL saw a straight-line surge of 42%, reaching a high of $0.167; however, starting at 5:10, the price plunged over 40% in less than 5 minutes, dropping below $0.12, erasing all the intraday gains.

Prior to the price surge, five new addresses on Hyperliquid deposited funds simultaneously around 1:00 am, with each transaction exceeding $200,000, totaling around $1.292 million. They then heavily leveraged long XPL positions, seemingly coordinating buy orders on other exchanges to boost the price. During this time, the five addresses made substantial unrealized profits, more than doubling their initial investment.

From 4:30 to 4:40, the five addresses withdrew all the released margin and unrealized profits, liquidating their positions, causing the liquidation price to surge close to the liquidation threshold. At 5:10, the five addresses were liquidated simultaneously at around $0.12971, triggering a sharp price drop, likely coordinating a sell-off with spot markets. The five addresses collectively made a profit of around $1.602 million.

During the surge, several prominent short whales were precisely targeted for liquidation. Shorts from addresses (0xbe1), (0x51f), "Crude and Brent Oil Mainnet Bears" (0x985), (0x45d) were all liquidated during the upswing, resulting in a total closure of short positions exceeding $32.99 million.

All fund sources point to the on-chain address:

0xBc1D9760bd6ca468CA9fB5Ff2CFbEAC35d86c973

Insider Whale Addresses:

1. 0x0e321565595044b32784fc983d38bfe57ddee62c

2. 0x763a5940ccb568e594a9ceb4b1d88d60dec8ea08

3. 0x1b546e2a2f10d30245502d6bdb11bba23719597f

4. 0x1a1cc7a769b233f29e09050fe383a37c46bcdbdf

5. 0xfb8fe47311c92345b8fc152f697212595a778915