As per Chainthink, on December 25, FOGO surged 550% on Hyperliquid within 15 minutes, triggering the liquidation of approximately $1.49 million in short positions. The short squeeze also led to a long position wallet triggering automatic deleveraging (ADL), securing around $500,000 in profit within 30 minutes. The long position was established via TWAP just seven hours prior using a newly created wallet. A separate wallet attempted to short FOGO during the rally, only to be liquidated within 10 minutes, losing about $100,000 in USDC margin on a $224,000 position.
FOGO Surges 550% on Hyperliquid, Triggering $1.5M Liquidations and $500K Profit in 30 Minutes
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Summary
FOGO spiked 550% on Hyperliquid on December 25, driven by on-chain trading signals, causing $1.49 million in short liquidations within 15 minutes. A long position, built via TWAP seven hours earlier, secured $500,000 profit in 30 minutes through ADL. A separate wallet attempted to short FOGO during the rally but was liquidated in 10 minutes, losing $100,000 in USDC. Value investing in crypto often rewards patience, but this move favored aggressive traders.
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