In a recent development on March 26, Crypto Key Opinion Leader CryptoSkanda (@thecryptoskanda) hinted at the potential listing of JELLY spot trading on Binance via social media. This move appears strategically designed to enhance the JELLY coin price while positioning Binance against competitors like Hyperliquid. Notably, Binance co-founder He Yi acknowledged this suggestion with a simple, “Okay, got it.” Despite this dialogue, JELLY’s price stagnated at approximately $0.0328, reflecting a modest 24% increase, far less impactful than an earlier surge of 500% noted the same evening.
Previously reported by COINOTAG, a recent trading incident resulted in a significant liquidation of a JELLY short position, with Hyperliquid Vault absorbing a staggering $5 million short position, now showing an unrealized loss exceeding $9 million. Insights from on-chain data analyst @ai_9684xtpa indicate that should JELLY’s price rise to around $0.17, the Hyperliquid Vault could face catastrophic liquidation, jeopardizing an estimated $240 million in assets.