Decentralized cryptocurrency exchanges (DEXS) still question the dominance of centralized platforms, even as a recent utilize of $ 6.2 million in the hypereen range, which emphasizes the risk in the DEX infrastructure.
Whale Cryptocurrencies reached at least $ 6.26 million for My Jelly (Jelly) memecoin jelly, using the liquidation parameters on the hyperlic, Cointelegraph informed on March 27.
He noticed that Exploit was the second substantial incident on the platform in March, Bobby ONG.
“$ Jellyjlylly was a more significant attack in which we saw Binance and OKX Loting Subs, rejecting accusations of coordinating the attack on hyperlic,” said ONG in April 3, XX postAddition:
“It is obvious that Cexes feel threatened by Dexes and will not see their market share without a fight.”
Dex growth transforms the derivative instrument market
Hyperliquid is the eighth largest exchange of Futures according to the volume in both centralized and decentralized exchanges. This puts “ahead of some known OG, such as HTX, Kraken and Bitmex,” noted ONG, citing research on April 4 report.
Related: Bitcoin to 110 thousand USD, then, Hyperliquid Whale bags 6.2 million USD “short” exploit: finances defined
The growing volume of Hyperliquid trading begins to limit itself to participation in the market of other centralized exchanges.
The best exchanges of derivatives according to open percentage. Source: What a ring
Hyperliquid is 12. As for the size of derivative instruments, with over $ 3 billion open percentage-although it is still $ 19.5 billion binance with a wide margin, What a ring The data show.
According to the Bitget Research analyst, Ryan Lee, the incident can harm the user’s trust in the emerging decentralized platforms, especially if the actions taken after mining seem too centralized.
“Hyperliquid intervention – criticized as centralized despite the decentralized ethos – can make investors fear similar platforms,” Lee said.
Whale uses Hyperliquid trade logic
The unknown whale Hyperliquid managed to utilize the Hyperliquid liquidation parameters, implementing commercial positions worth millions of dollars.
The whale amount has opened two long positions in the amount of $ 2.15 million and $ 1.9 million and $ 4.1 million, which will effectively compensate for the long, in accordance with the posthumous company Blockchain Analytics Arkham.
Hyperly exploit, transactions. Source: Arkham
When the price of jelly increased by 400%, a brief item worth $ 4 million was not immediately liquidated due to its size. Instead, it was absorbed in the vault of hyperlicanity supplier (HLP), which was designed to eliminate vast positions.
Related: Polymarket faces the control of over $ 7 million of Ukraine Mineral Deal Bet
On March 27, an unknown whale still contained 10% of the total supply of memecoin, worth almost $ 2 million, despite the freezing of hyper -and -withdrawal and withdrawal of memecoin, citing “evidence of suspicious market activity” with the participation of trade instruments.
Exploit Hyperliquid took place two weeks after the Wolf inspired by Wall Street Memecoin-presented by the official Meme Melania (Melania) and Libra (Libra) co-creator Hayden Davis-rolled up by more than 99% after starting with 80% confidential supply.
https://www.youtube.com/watch?v=ndv0rfeetq
Warehouse: Memecoins are ded – but Solana “100x better” despite the decrease in revenues
