Crypto KOLs Launch Whale Hunt, Justin Sun Joins, Bitcoin Surges 50%

Cryptocurrency influencers, known as KOLs, have initiated a "Whale Hunting Operation" targeting a Hyperliquid 50x leverage whale. The operation, which began on March 17th, aims to exploit the high-risk, high-reward nature of leveraged positions in the cryptocurrency market. The operation was first announced by crypto KOL @Cbb0fe, who posted a recruitment call for a "Whale Hunting Team" on social media.

Within half an hour of the initial post, @Cbb0fe shared a screenshot indicating that Justin Sun, the founder of TRON and a prominent figure in the cryptocurrency industry, had joined the operation. This development has sparked significant interest and speculation within the cryptocurrency community, as Justin Sun's involvement could potentially amplify the impact of the operation.

According to on-chain analyst @ai_9684xtpa, the sudden surge in Bitcoin (BTC) prices at 12:00 AM on the same day appears to be a strategic move by the whale hunting team. This price movement resulted in the 50x whale's $6 million unrealized profit being wiped out, leading to a $2 million loss. The whale was forced to add 5 million USDC in collateral to maintain their position. However, the operation temporarily concluded with this victory, as BTC prices have since fallen back below $83,000, and the whale's position is once again showing an unrealized profit of $5.36 million.

This "Whale Hunting Operation" highlights the complex dynamics and risks associated with leveraged trading in the cryptocurrency market. The involvement of prominent figures like Justin Sun adds an additional layer of intrigue and potential influence to the operation. As the cryptocurrency market continues to evolve, such high-stakes maneuvers are likely to become more common, reflecting the competitive and speculative nature of the industry.