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Analysis: There is no direct evidence to suggest that this morning's XPL price manipulation event was orchestrated by Justin Sun
BlockBeats News, August 27th, according to on-chain analyst AI Auntie @ai_9684xtpa, it was revealed that the market rumor this morning's XPL price manipulation event is related to Justin Sun. This is because the funds' source has been continuously traced back, and an address suspected of price manipulation had transferred ETH to a Justin Sun-associated address five years ago, but there is no direct evidence proving it was Justin Sun.
Earlier today, BlockBeats reported that by heavily longing XPL and pushing the price to $1.8, three whale wallets cleared out other people's positions in less than an hour and made a profit of nearly $38 million.
One wallet address this morning at 5:35 massively longed millions of XPL on Hyperliquid, directly sweeping the entire order book and liquidating all short positions. Afterwards, they started closing some long positions, making a profit of $16 million in just one minute.
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