Analysis: There is no direct evidence to indicate that this morning's XPL price manipulation event was caused by Justin Sun.

BlockBeats reported on August 27 that according to on-chain analyst AI Yi @ai9684xtpa, there are rumors in the market this morning that the XPL price manipulation event is related to Justin Sun, as there has been a continuous tracing of the source of funds. The address suspected of price manipulation had transferred ETH to an address associated with Justin Sun five years ago, but there is no direct evidence proving this is Justin Sun. Earlier today, BlockBeats reported that by significantly going long on XPL and pushing the price up to $1.8, three whale wallets cleared other people's positions in less than an hour and made nearly $38 million in profit. A certain wallet address went long on millions of XPL on Hyperliquid after 5:35 this morning, directly sweeping the entire order book and squeezing out all short orders. Subsequently, he started to close some long orders and made $16 million in just one minute.