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jellyjelly is experiencing a short positions squeeze, with Hyperliquid Vault taking over a Position with unrealized losses exceeding $10.5 million.
According to Wu, jellyjelly has encountered short positions squeezing, surging by 429% between 21:00-22:00 UTC+8. Hyperliquid Vault took over a jellyjelly short position that was liquidated by a trader, and it now has unrealized losses exceeding 10.5 million USD. If jellyjelly reaches 0.15374, Hyperliquid Vault will lose all of its 230 million USD funds; and as funds flow out of Hyperliquid Vault, it will further drop the liquidation price of jellyjelly.