A massive whale with 124.6M $JELLY($4.85M) is manipulating the price of $JELLY(jellyjelly) to make Hyperliquidity Provider (HLP) face a loss of $12M!

He first dumped $JELLY, crashing the price and leaving HLP with a passive short position of 398M $JELLY($15.3M).

Then he bought $JELLY back, driving the price up—causing HLP to suffer a loss of nearly $12M.

https://x.com/lookonchain/status/1904897354274312657

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