Svmuu News: According to monitoring by Route 2 FI (@Route2FI), a whale is holding a long position in ARC worth a total of $24 million on the Perp DEX Lighter, and is adding $360,000 to the position every hour via TWAP (Time-Weighted Average Purchase), continuously injecting funds to drive the market higher. Currently, this whale has realized a profit of $5 million. Analysis suggests that this whale’s behavior is similar to the JellyJelly price manipulation incident on Hyperliquid. In March 2025 on Hyperliquid, a whale trader placed large short positions on JELLY perpetual contracts while simultaneously using other accounts and on-chain activities to artificially inflate the spot price, causing short sellers to be liquidated. resulting in losses for Hyperliquid’s HLP liquidity pool after settlement. The Hyperliquid team urgently delisted the contract via a governance vote and forced liquidation at an extremely low price. Currently, the annualized funding rate for the ARC contract market on Lighter has surged to 2,100%, meaning short sellers can earn approximately 5.7% in funding revenue daily, which will attract more short sellers, intensifying the battle between bulls and bears.