JELLY rose more than 500% in the past hour, and Hyperliquid took over the short position and suffered a floating loss of more than 12 million US dollars

On March 26, according to market data, the meme coin JELLYJELLY rose by 515% in the past hour, currently priced at $0.034, with a market value of approximately $38.11 million; while HYPE dropped 17% in the past hour, currently priced at $14.37, down 10% compared to when it "took over JELLY's short position".

BlockBeats previously reported that Hyperliquid Vault automatically liquidated and received a $5 million JELLY short position.

According to hypurrscan data, as JELLY's price surged, the current position has an unrealized loss of $12.368 million (opening price of $0.01129).