TradingBeats Traces About 200,000 USDT to Plasma (XPL) Address

TradingBeats traced about 200,000 USDT from a network tied to April Plasma (XPL) trading to an address involved in Sunday, Nov. 1, liquidations, adding an amount to a previously identified funding link.

The funds passed through multiple addresses and centralized exchanges before reaching one of 16 addresses tied to the November event. TradingBeats linked their origin to the April trading network. An earlier wallet trace connecting the two episodes identified a possible funding connection but did not specify this transfer amount.

On April 3, XPL climbed about 42% before falling more than 40% within minutes. Five addresses funded long positions ahead of the rise. They withdrew margin as unrealized gains grew and were then liquidated together.

Margin was withdrawn from the 16-address group during the Sunday, Nov. 1, XPL decline. HLP took over more than $12 million in long positions during the liquidations.