Solana News: Hyperliquid Delists JELLYJELLY Token Amidst Market Manipulation Scandal

In a recent turn of events, Hyperliquid, a decentralized perpetual exchange, has delisted the Solana-based meme coin JELLYJELLY amidst allegations of market manipulation. Here’s a closer look at what transpired.

Hyperliquid Delists JELLYJELLY Token Following Market Manipulation

Hyperliquid, a decentralized perpetual exchange, faced a liquidity crisis after the Solana-based meme coin JELLYJELLY surged nearly 500% due to potential whale manipulation. The pump triggered a temporary $12 million loss for the Hyperliquidity Provider (HLP) vault, but validators stepped in to flip the position to a $700K profit. Following suspicious market manipulation surrounding the token, Hyperliquid delisted JELLYJELLY.

Solana Price Declines

Solana (SOL) price drops to $138.68, marking a 3.74% decline in the last 24 hours. The daily trade volume also decreased by 8.70% to $3,161,355,818. This decline in both price and volume could indicate an impending trend reversal amidst recent developments and macroeconomic factors. However, SOL gained 3.08% in the last 7 days, with a total market capitalization of $70,930,610,715.

Blum Airdrop Listing Date Update and $2.5K Reward Pool

After weeks of speculation, Blum has announced a $2,500 prize pool for its most loyal promoters. To participate, users need to refer new users to its Trading Bot. If the referred users trade $50+ on Solana, the referrer rises on the leaderboard. The top 10 earners will split the $2,500 in rewards. No information on the actual listing date has been provided yet.

Pump.fun Co-Founder Discusses Revenue-Sharing Amid Meme Coin Market Decline

Pump.fun, a platform enabling users to create and launch meme coins on Solana, has seen a 95% drop in platform revenue. In response, the co-founder, Alon, revealed in a conversation with Bankless that Pump.fun is experimenting with a revenue-sharing mechanism for token creators. Some transaction fees will be returned to token creators to encourage them to build higher-quality projects. Dune data showed that Pump.fun has generated over 8.8 million tokens, accounting for more than 61% of all tokens issued on Solana.

Next Block Expo 2025 Solidifies Position as CEE’s Premier Web3 Event

Next Block Expo successfully held one of its most impactful editions, attracting 1,738 attendees, 132 expert speakers, 32 exhibitors, and support from 150+ media partners, ambassadors, and communities. Hosted in Poland, the event underscored the country’s growing role as a European blockchain hub. Speakers included Robby Yung (Animoca Brands), Miko Matsumura (gumi Cryptos Capital), Marouane ’Kouga’ Essaïdi (Solana Foundation), and others, engaging in thought-provoking keynotes and panel discussions.