Degen price

Recently, the two most discussed topics on the chain are the XPL "arbitrage incident" of the leading Perp DEX Hyperliquid, and the launch of the WLFI project led by the Trump family. The name TechnoRevenant comes up many times in both topics. There is no photo of him on the Internet, no idea of his real name, or unclear background of him, but this mysterious man who loves techno music in the image of an android has earned nearly $300 million from the on-chain market in just one week. Who is TechnoRevenant, who earned $38 million in 20 minutes when Hyperliquid users lost hundreds of millions of dollars, and invested $15 million to become a WLFI "big player" at the beginning of the year? How did he do it? The "fat fingers" of WLFI giants On the evening of September 1st, when many addresses that had played the presale rushed to claim WLFI tokens in order to sell them at the opening high, causing Ethereum gas fees to exceed 100 Gwei for the first time in a long time, moonmanifest.eth, the address that lay 1 billion WLFI tokens, claimed its tokens unhurriedly. After community verification, it was revealed that this was TechnoRevenant, which was known for making a profit of $38 million on Hyperliquid last week. TechnoRevenant began laying out the World Liberty Financial project as early as January 2025, when Trump had not yet officially become president of the United States, and the "Gold Paper" on its official website also stated that WLFI could not be transferred. However, TechnoRevenant still invested 13 million USDC and 2.01 million USDT through the moonmanifest.eth wallet, totaling about $15 million, participating in the first round of WLFI public offering, purchasing about 1.5% of the total supply. On September 1, 2025, after WLFI officially began trading, TechnoRevenant claimed 200 million WLFI as a 20% unlocked share, worth approximately $49 million, while the remaining 800 million are still locked. At the current price of $0.245, the total value of its 1 billion WLFI has reached $245 million, achieving 8-16 times the book return. In addition to being a major player in the Trump family's project WLFI (worldlibertyfi), he was really surprised by the huge returns he obtained by going long XPL on Hyperliuquid as a "contract novice". What happened in the early morning of August 27, 2025, was a bitter lesson for those who hedged or shorted the Plasma project token XPL on Hyperliquid. Beginning at 5:36 a.m. on August 27 and ending in the next two hours, approximately $159 million of positions on Hyperliquid were liquidated, affecting more than 1,000 traders. Someone found that several addresses bought a large number of tokens to "manipulate" the already low liquidity of the XPL pre-market market on Hyperliquid, but afterwards, TechnoRevenant, the "novice" who conducted contract operations for the fifth time, jumped out and admitted that it was caused by his "fat finger" accident. TechnoRevenant said that because he was optimistic about XPL but did not participate in the presale, he began to build exposure when Hyperliquid launched its pre-market perpetual contract trading, and before that, he used three wallets to buy at a scale of $44,000 each, and held a total of 54.4 million XPL in two days, with a value between $31 million and $33 million at the market value at the time. But in just 15 seconds from 05:36:05 to 05:36:20, he said that due to "sleepy eyes", he accidentally typed an extra "4" in the purchase amount and repeated it 10 times, which also made him switch from $44,000 to $444,000 in a single purchase, and invested about $4.44 million to buy 7,288,505 XPL, which accounted for 77.37% of the total long volume at that time. This move also pushed the XPL price from $0.587 to $0.65 in a minute, an increase of up to 10.8%. By the time he realized the problem, the market began to fall slightly. He even nervously borrowed $3 million in case of an accident, he tried to close his long deposit, but he didn't realize that his long position was safe because of his large position, and Hyperliquid activated the automatic position reduction mechanism during this period, and for the next 15 minutes he continued to buy with a single volume of $45,000, and then began to gradually close his long order. In the end, he earned $38 million in this trade, and to this day he still holds more than $30 million in long positions in XPL, accounting for 87% of the total open interest on hyperliquid, and there are still $26 million in bullets lying on his account to continue to buy. This also makes the XPL price on Hyperliuquid maintain a premium of 20~30% compared to other trading platforms. Radical opportunists are also slaughterers of manipulating the market TechnoRevenant's operation has sparked heated discussions in the crypto community. Supporters regard him as a "god-level market interpreter" and believe that his winning streak is commendable. The community even memeted the "fat finger" incident, calling it "the best typo in history." Despite causing huge losses for many traders, the community discusses its use of large sums of money to manipulate the market. However, some opinion leaders, including Zhu Su, said they believed it was not exploiting contract vulnerabilities but normal trading behavior. In addition, because he is different from other DEGEN contract traders who have appeared recently, his trading is more rational than extreme, which also led many traders to choose to follow him for long WLFI operations (FDV has now jumped to $24.6 B). According to on-chain data, moonmanifest.eth has 8 USDC transfers with Jump Trading, totaling $27 million, frequent interactions with top market makers such as Wintermute and Amber, plus a heavy position of $15 million when WLFI is very early and it is not confirmed whether the token can be "unlocked transferred". These signs suggest that TechnoRevenant may not be an ordinary retail trader but a professional trader with an institutional background. This has further raised community concerns about the recent hot on-chain equity (Pre-IPO) model. KOL banterlytics said on X, "Seeing TechnoRevenant already make such an impact on the token's Premarket, imagine what it would be like if it happened to a Pre IPO with more insider information." TechnoRevenant's on-chain "Print Money" madness continues, and the mysterious trader has once again shown how easily whales can manipulate illiquid markets. With the advent of the era of everything on the chain, the impact on the chain may not be limited to the chain, it may affect the housing price of a region, it may affect the valuation of a startup. Before ushering in the "new era", whether the liquidity and mechanism of blockchain itself can carry them will be an unavoidable issue.