A JELLY whale holding 126 million yuan is manipulating the coin price, causing HLP to lose nearly $12 million

According to BlockBeats, on March 26th, according to Lookonchain monitoring, a giant whale holding 126 million JELLY coins was manipulating the coin price. The address first sold JELLY, causing a sharp drop in price, leaving HLP with a passive short position of 398 million JELLY (approximately $15.3 million). Then the address bought back JELLY, pushing up the price and causing HLP to lose nearly $12 million.