An address went long on millions of XPL on Hyperliquid, clearing the order book and causing all accounts to be liquidated, resulting in a profit of $16 million in one minute.

It is suspected that an address associated with Justin Sun went long on XPL on Hyperliquid, clearing the order book and causing all accounts to be liquidated, making a profit of $16 million in one minute. The price of XPL soared by more than 200% within two minutes.