The near-$100 spike on rival DEX Lighter wasn’t whale activity but an automated trading error that exposed the challenges of maintaining transparency and usability on decentralized exchanges.
What to know:
- Hyperliquid’s HYPE token briefly surged to $98 on Lighter due to a bot error, not whale activity.
- Lighter removed the distorted price data from its front-end to improve user experience, while on-chain data remains accessible.
- The incident highlights challenges for decentralized exchanges in balancing transparency and user experience during market anomalies.
Hyperliquid’s HYPE token briefly surged to $98 on rival decentralized exchange Lighter, trading at a steep premium compared to global prices.
The sudden spike drew attention from the crypto community, sparking curiosity about who was driving such heavy buying. However, the surge was ultimately caused by a bot error, not whale activity.
Lighter attributed this unusual price spike to a bot-driven trading glitch. The bot aggressively bought through the HYPE order book, pushing prices higher on relatively low volumes, Lighter said on X, adding that despite the spike, there were no forced liquidations or major disruptions for users.
The extreme price movement distorted the platform’s candlestick charts, prompting Lighter to remove the affected data from its main front-end for a clearer trading experience. As such, the spike is no longer visible on the price chart.
