According to MLM Monitor on Hyperliquid, a pre-market short position of approximately $1.49 million in FOGO was liquidated within 15 minutes as the token surged about 550%, underscoring the velocity of unwind in crypto markets.
This chain liquidation also triggered an Auto-Deleveraging (ADL) event in a long wallet, locking in roughly $500,000 of profit in less than 30 minutes. The long exposure appears to have been opened via TWAP around seven hours earlier from a newly created wallet address, illustrating how high-frequency strategies interact with address hygiene.
Separately, the largest single liquidation arose from a wallet that persisted in a short FOGO stance during the unwind. The system liquidated that isolated short position in about 10 minutes, costing the trader roughly $100,000 in USDC collateral on a nominal $224,000 exposure, highlighting liquidity risk in volatile tokens.
Source: https://en.coinotag.com/breakingnews/fogo-surges-550-on-hyperliquid-as-1-49m-short-liquidates-in-15-minutes-triggers-adl-and-locks-500k-profit-in-under-30-minutes
