Hyperliquid Strategies is taking a major step to strengthen its presence in the decentralized finance (DeFi) ecosystem. The firm plans to raise up to $1 billion to expand its holdings of the Hyperliquid (HYPE) token, which powers the world’s largest decentralized derivatives platform.
In brief Hyperliquid Strategies to raise $1B via 160M share offering advised by Chardan Capital Markets. Funds will expand HYPE token holdings and support general corporate initiatives post-merger. HYPE token surged 10% to $39.73, outperforming a declining crypto market amid mixed technicals. Hyperliquid leads DeFi perps with $317.6B in October volume, capturing a 70% market share. According to Wednesday’s S-1 registration filing, Hyperliquid Strategies intends to issue up to 160 million shares of common stock. The proceeds will be used primarily to purchase additional HYPE tokens and for general corporate purposes. Chardan Capital Markets will serve as the financial advisor for the offering.
The company is emerging from a merger between Nasdaq-listed biotech firm Sonnet BioTherapeutics and Rorschach I LLC, a special purpose acquisition company (SPAC). Once the merger is finalized, David Schamis will serve as CEO, while Bob Diamond, former CEO of Barclays, will take on the role of chairman.
Treasury Play Pushes HYPE Higher Amid Mixed Technicals Unsurprisingly, news of the filing triggered a surge of more than 10% in the HYPE token, which climbed to $39.73. Interestingly, this rally came even as the broader crypto market slipped 0.6% during the same period.
Despite the sharp uptick, underlying market data paint a more cautious picture:
Market Sentiment: Hyperliquid’s price outlook remains bearish, reflecting investor caution. Investor Mood: The Fear & Greed Index stands at 27 (“Fear”), signaling weak market confidence. Performance Metrics: The token recorded 13 green days out of 30 (43%), suggesting limited short-term strength. Token Supply: Only 34% of the total HYPE supply is in circulation, pointing to limited liquidity. Technical Indicator: Despite subdued sentiment, HYPE continues to trade above its 200-day simple moving average, indicating that long-term support remains intact. Once the merger is complete, Hyperliquid Strategies is expected to hold 12.6 million HYPE tokens valued at roughly $470 million, along with $305 million in cash earmarked for additional token purchases.
This position would make Hyperliquid Strategies the largest corporate holder of HYPE, underscoring its alignment with the Hyperliquid network—a platform anchoring one of the most active decentralized derivatives exchanges globally.
Hyperliquid Outpaces Competitors as October Perpetual Volumes Hit $1 Trillion While such treasury-driven strategies can boost share prices in the short term, analysts have questioned their resilience during altcoin market downturns. Even so, Hyperliquid’s core fundamentals remain strong, supported by high trading activity and growing user engagement.
The platform leads the market in perpetual futures (“perps”), derivatives that enable 24/7 trading and leveraged exposure to digital assets.
Here are some key market data to note:
Decentralized perpetual trading volumes surpassed $1 trillion in the first 23 days of October, breaking September’s $772 billion record, according to DeFiLlama. Hyperliquid maintained its lead with $317.6 billion in trading volume during the same period. Competitors: Lighter recorded $255.4 billion, Aster $177.6 billion, and edgeX $60.6 billion. Market Share: Hyperliquid now commands an estimated 70% share of the decentralized perpetuals market, reinforcing its dominance in the sector. Hyperliquid continues to set new benchmarks in DeFi, reporting $248 billion in 24-hour trading volume in May 2025 and a record $106 million in revenue in August—further solidifying its leadership in decentralized derivatives.
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James G.
James Godstime is a crypto journalist and market analyst with over three years of experience in crypto, Web3, and finance. He simplifies complex and technical ideas to engage readers. Outside of work, he enjoys football and tennis, which he follows passionately.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
As of January 29th, DefiLlama data shows trading volumes across major perpetual DEXs have all climbed, with Aster’s volume surging over 70% to claim the second spot. Hyperliquid retains its top position, as its trading volume and Total Value Locked (TVL) have risen in tandem. Hyperliquid’s open interest remains at a relatively high level following yesterday’s uptick, and the volume surge may largely stem from passive position unwinding tied to market volatility over the past 24 hours. Below is the current 24-hour trading volume, TVL, and open interest for key Perpetual Protocol-based DEXs: - Hyperliquid: ~$9.26B volume, ~$4.59B TVL, ~$8.68B open interest - Aster: ~$4.26B volume, ~$1.21B TVL, ~$2.54B open interest - Lighter: ~$3.97B volume, ~$0.982B TVL, ~$1.36B open interest - EdgeX: ~$3.08B volume, ~$240M TVL, ~$1.05B open interest - Graviton (Grvt): ~$2.24B volume, ~$96.37M TVL, ~$527M open interest - Extended Protocol: ~$1.87B volume, ~$2.09B TVL, ~$3.79B open interest - Pacifica: ~$0.905B volume, ~$43.15M TVL, ~$82.50M open interest
Relevant content
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
1 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
1 minutes ago
Japan and South Korea's stock markets closed higher across the board, with Japan's stock market hitting a new closing high.
According to Bitget market data, the Nikkei 225 index closed up 3,191.37 points, or 4.61%, at 72,366.34 points on Thursday, June 25, hitting a new all-time closing high. South Korea’s KOSPI index rose 459.76 points (5.43%) to end at 8,930.78 points; SK Hynix surged 13% while Samsung Electronics gained more than 5%.
1 minutes ago
A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
According to monitoring by Onchain Lens, a newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
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JPMorgan Chase raised its S&P 500 target to 7,800 points, while warning of an overcrowded AI trade.
JPMorgan Chase has raised its year-end outlook for U.S. stocks, while cautioning investors that the overcrowding in AI-related momentum stocks is becoming the market’s most vulnerable segment. The JPMorgan strategy team led by Dubravko Lakos-Bujas lifted its 2026 year-end target for the S&P 500 from 7,600 to 7,800 points, citing continued upward revisions to corporate earnings expectations and nearly doubling of AI-related capital expenditures. The bank noted that consensus earnings expectations for both 2026 and 2027 have been revised up by roughly 10% since the start of the year, a magnitude typically only seen in the recovery phase after a recession or major shock. However, JPMorgan does not interpret this upward revision as a risk-free rally. The bank pointed out that low-quality growth stocks, speculative growth stocks, and second- and third-tier AI-related concept stocks have become "extremely overcrowded," and a pullout of capital could trigger a rapid correction. The strategists also noted that rising equity supply in the coming quarters and potentially tight monetary policy could cap further valuation expansion. On the allocation front, JPMorgan recommends a barbell strategy: holding high-quality growth stocks and stocks directly benefiting from AI on one end, and low-volatility, high-quality stocks as a portfolio buffer on the other. The bank remains bullish on tech, select industrials, utilities, defense, banks, and some healthcare growth stocks, but believes the market’s upward trajectory will not be linear.
1 minutes ago
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
According to monitoring by Onchain Lens, a newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.
4 minutes ago
JPMorgan Chase raised its S&P 500 target to 7,800 points, while warning of an overcrowded AI trade.
JPMorgan Chase has raised its year-end outlook for U.S. stocks, while cautioning investors that the overcrowding in AI-related momentum stocks is becoming the market’s most vulnerable segment. The JPMorgan strategy team led by Dubravko Lakos-Bujas lifted its 2026 year-end target for the S&P 500 from 7,600 to 7,800 points, citing continued upward revisions to corporate earnings expectations and nearly doubling of AI-related capital expenditures. The bank noted that consensus earnings expectations for both 2026 and 2027 have been revised up by roughly 10% since the start of the year, a magnitude typically only seen in the recovery phase after a recession or major shock. However, JPMorgan does not interpret this upward revision as a risk-free rally. The bank pointed out that low-quality growth stocks, speculative growth stocks, and second- and third-tier AI-related concept stocks have become "extremely overcrowded," and a pullout of capital could trigger a rapid correction. The strategists also noted that rising equity supply in the coming quarters and potentially tight monetary policy could cap further valuation expansion. On the allocation front, JPMorgan recommends a barbell strategy: holding high-quality growth stocks and stocks directly benefiting from AI on one end, and low-volatility, high-quality stocks as a portfolio buffer on the other. The bank remains bullish on tech, select industrials, utilities, defense, banks, and some healthcare growth stocks, but believes the market’s upward trajectory will not be linear.
4 minutes ago
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
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4 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
4 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
4 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
PANews reported on April 3rd that, according to data and analysis from The Block, Hyperliquid's market share in the perpetual contract market has climbed to nearly 6%, a significant increase from approximately 3.5% a year ago, with monthly trading volume approaching $200 billion. This growth occurred during a period when overall exchange trading volume has declined from its peak in August 2025, indicating that Hyperliquid is truly capturing market share. On-chain competitors such as dYdX and GMX have not yet reached Hyperliquid's level in terms of trading volume growth or product expansion. Hyperliquid's expansion into non-crypto assets such as oil is a significant part of its growth, and its 24/7 trading model eliminates the gap risk caused by traditional market opening time restrictions. If decentralized perpetual contract platforms can continue to expand liquidity and asset coverage, their reach will extend far beyond native crypto trading volume, reaching the multi-trillion-dollar traditional derivatives market.
PANews reported on April 8th that, according to The Block , Hyperliquid , a decentralized perpetual contract trading platform, saw its share of global perpetual contract trading volume rise to nearly 6% in March , a significant increase from approximately 3.5% a year ago, with monthly trading volume approaching $ 20 billion. The report states that even with the overall decline in exchange trading volume since August 2025 , Hyperliquid's share has continued to rise, indicating its acquisition of real market share from centralized exchanges. Compared to other decentralized platforms such as dYdX and GMX , Hyperliquid is leading in both trading volume growth and product expansion. The platform has expanded to non-crypto assets, including 24/7 commodities such as crude oil, and the proportion of related transactions in overall trading volume is constantly increasing, seen as an early sign of decentralized derivatives platforms entering the traditional multi-trillion-dollar derivatives market.
[PRESS RELEASE – Kingstown, Saint Vincent and the Grenadines, May 21st, 2026]
NOW Wallet, a non-custodial crypto wallet focused on security, multi-chain access, and seamless DeFi experience, now has direct access to perpetual futures and prediction markets built into the app. That means platforms like Hyperliquid, Aster, Lighter, GMX, and dYdX for perps trading, and Polymarket and PancakeSwap for prediction markets — all accessible without leaving the wallet.
Perps and prediction markets
Perpetual futures (“perps”) allow users to take positions on cryptocurrency price movements without holding the underlying asset. These instruments support features such as leverage, short positioning, and continuous trading, which have contributed to their widespread use in digital asset markets.
Prediction markets operate on a different model. Rather than tracking asset prices, they reflect the perceived likelihood of specific outcomes. Participants take positions on whether an event will occur, such as a cryptocurrency reaching a certain price level, a macroeconomic development, or other predefined scenarios. Market prices adjust as expectations change, and positions are resolved once the outcome is determined.
Both segments have expanded within decentralized finance (DeFi) in recent years.
Bring this into the wallet
Until now, accessing advanced DeFi trading tools meant a fragmented workflow — separate accounts on separate platforms, funds split across multiple places, constant switching between apps and browser tabs. It worked, but it wasn’t clean.
This update brings that access into one place. Users can connect to supported protocols directly through their wallet, fund trading balances, sign transactions, and manage positions — all while keeping self-custody of their assets. No centralised exchange accounts required.
The aim is straightforward: make on-chain trading more direct, less fragmented, and actually usable on mobile.
Part of a broader shift in crypto UX
Wallets started as storage tools. That’s changing. As more users engage with swaps, staking, trading, and prediction markets at the same time, the expectation has shifted — a wallet should be the access layer for all of it, not just a place to park funds between sessions.
Adding perps and prediction markets is part of that direction for NOW Wallet.
About NOW Wallet
NOW Wallet is a non-custodial multi-chain crypto wallet supporting storage, swaps, staking, fiat purchases, and dApp access across 70+ blockchain networks.
The feature is available now in the latest version of NOW Wallet.
Users can download NOW Wallet: https://walletnow.app/
On February 6, according to the Coinbob Popular Address Monitor, the "Strategy Whales" address liquidated long positions across multiple tokens totaling approximately $175 million this morning, incurring a total loss of $31.13 million. This loss pushed its account balance from tens of millions of dollars to less than $6 million. Subsequently, the address transferred roughly $8.29 million to Hyperliquid to replenish margin and maintain account operations. Its total account balance has now recovered to around $12.9 million. Details of the liquidated positions are as follows: - Pre-liquidation ETH long position: ~$105 million; Liquidation price: $1,933; Loss: $17.83 million - Pre-liquidation BTC long position: ~$41.52 million; Liquidation price: $65,700; Loss: $6.3 million - Pre-liquidation SOL long position: ~$15.44 million; Liquidation price: $82; Loss: $3.57 million - Pre-liquidation XRP long position: ~$13.88 million; Liquidation price: $1.25; Loss: $3.43 million The address began accumulating positions in December last year with an initial account size of ~$20 million, later gradually adding short positions on major tokens like BTC and ETH. Since its trading direction was opposite to MicroStrategy’s ongoing BTC purchases, the market views this address as a clear "on-chain opponent" to the publicly traded firm. It frequently switches trading directions and has held positions valued at billions of dollars.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
15 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
15 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
15 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
15 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
15 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
As of April 20th, per HyperInsight monitoring (https://t.me/HyperInsight): - The closest BTC whale to liquidation on Hyperliquid is address 0xec3, holding a 40x leveraged long position worth $10.04 million. Key details: average entry price $74,628, liquidation price $72,776, opened 4 days ago. - In the past 5 hours, this address placed a new market stop-loss order at $73,869, targeting a partial $2.37 million stop-loss (below its liquidation price). - The closest multi-million-dollar short whale near liquidation is the "Strategy Counterparty," holding a 40x leveraged BTC short position. Details: average entry $76,290, liquidation price $76,402, current unrealized profit $700,000 (106%). Most of the profit was used for repositioning today.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
15 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
15 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
15 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
15 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
15 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
As of May 26, Hyperinsight Monitoring (via Telegram channel @HyperInsight) reports that the ZEC/BTC trading pair has just hit a new all-time high (ATH). The rate first surged to a peak on May 20, then climbed further to reach a new record of 0.00895 on May 23. During this rally, two major whales on the Hyperliquid exchange opened fully opposing directional "ZEC/BTC" combination positions—each exceeding $70 million in size, and now acting as direct counterparties in the trade: 1. **BTC OG Insider Whale** (position opened May 22): - BTC Long (5x leverage): $38.6 million position size - ZEC Short (3x leverage): $34.6 million position size - Bet: Bitcoin will outperform Zcash (meaning the ZEC/BTC rate will decrease) - Current net profit: +$920,000 2. **Trader Evaded** (position opened May 24): - BTC Short (40x leverage): $40.2 million position size - ZEC Long (5x leverage): $32.2 million position size - Bet: Zcash will outperform Bitcoin (meaning the ZEC/BTC rate will rise) - Current net loss: -$2.55 million Following its May 23 peak, the ZEC/BTC rate immediately reversed, dropping 7.76% in roughly 24 hours and now trading at 0.00788. The early-positioned "BTC OG Insider Whale" locked in profits by anticipating the market move, while the later-entry "Trader Evaded" took a position directly against the rate’s peak and is currently facing significant pressure. Associated wallet addresses: 0x92ea19eceb7a8de0f50978a1583a5d8b018050e9 0x86523927bffeafe2e532f0218feb1f3c29f6120d HyperInsight Bot is now live. To auto-sync on-chain data, add @HyperInsightBot to your Telegram group, set it as admin, and enable message-sending permissions.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
15 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
15 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
15 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
15 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
15 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
7 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
7 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
7 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
7 minutes ago
South Korea's KOSPI index climbs back above the 9,000 mark, up 6.25% on the day.
According to Bitget data, South Korea’s KOSPI index has returned to the 9,000 level, gaining 6.25% on the day.
7 minutes ago
Silver plunged 6% intraday, breaching the defense of long positions, as a smart money entity reaped $2.16 million in shorting profits.
According to Hyperinsight’s monitoring, the Silver (SILVER) contract on Hyperliquid is currently priced at $56.78, down 6.34% over 24 hours, with a trading volume of $263 million, ranking first in the precious metals sector. Driven by gold prices falling below $4,000 and safe-haven funds flowing back into chip stocks, short sellers have reaped significant profits. Notably, smart money address 0x49e has been shorting Silver on 3x leverage since April 29 at a high of $78.79, holding a position worth $5.77 million, and has already booked a precise profit of $2.16 million (+81%). On-chain Silver whales are overall bearish: the nominal position size of short sellers is approximately 1.5 times that of long positions. The average entry price for short positions is around $65.05, and the current price is 12.7% lower than this level. Long positions are overall trapped, with an average entry price of about $59.75, roughly 5% above the current price. Current short sellers have sufficient safety margins: the nearest short liquidation line stands at $77.18, some 36% above the current price, meaning short sellers face almost no liquidation pressure. Address: 0xe9ffe7698f46f96f980f2877e18c43f5b4165903-HyperInsight Bot is now live. Add @HyperInsightBot to your TG group and set it as an admin (enable message sending permission) to automatically sync on-chain updates.
They were thought fit for the digital museum, stored away in the drawers of the 2021 bull market. Yet, NFTs haven’t said their last word. After months of lethargy, the market is regaining color and even surprising crypto players. Better still, they have just overtaken DeFi in number of active users, reversing a well-established trend. Behind this rebound are diverse uses and a strategy that appeals as much to brands as to seasoned investors.
In Brief NFTs recorded $530M in July, with an average price doubled to $105. DeFi reached a record $270B in total value locked, despite fewer users. Brands like Nike and Rolex explore NFTs for authentication and marketing. Hacks cost $132M in July, highlighting the ongoing fragility of the Web3 ecosystem. NFTs Lead the Dance, DeFi Holds the Cash In July, DeFi achieved a feat: $270 billion in total value locked (TVL), a historic record. But this financial triumph masks an unexpected reality: in terms of users, NFTs have taken the lead. 3.85 million daily active wallets interacted with NFT dapps, slightly more than DeFi, out of a total 22 million.
Industry dominance by UAW in the Dapp ecosystem – Source: Dapp Radar The explanation partly lies in the hegemony of Blur, capturing up to 80% of ETH volume, attracting professional traders and loan enthusiasts through its Blend protocol. OpenSea, on the other hand, remains the leader in daily active users (27,000 traders) thanks to a multichain and diversified offering. Zora attracts creators with a low-cost mint via its Layer 2 solution and its $ZORA token.
As DappRadar notes:
NFT trading volumes surged by 96%, propelling the sector ahead of DeFi in user numbers.
NFT: From Speculative Boom to the Era of Utility July figures speak: +96% trading volume ($530 million) compared to June, but -4% in transactions. Result: an average price doubled, rising from $52 to $105.
Blue-chip collections, like CryptoPunks (+25% in one month), drive this rebound: 9 of the 10 biggest NFT sales in 24 hours were Punks. Brands are not staying behind. Nike teams with EA Sports to launch virtual sneakers, Louis Vuitton and Rolex explore blockchain authentication, while Coca-Cola China tests digital collectibles.
NFT Trading Volume and Number of Sales Use cases are expanding: digital identity, event ticketing, gaming, tokenization of real assets. According to DappRadar:
NFTs are evolving from a simple trend to utility, shifting from collectibles and culture to identity, ticketing, gaming, and tokenization of real assets.
This shift towards utility marks a strategic change: fewer impulse buys, more integration into digital services.
A Web3 in Permanent Recomposition In the crypto ecosystem, the sector hierarchy changes fast. In July, gaming represented 22.4% of dapp activity, ahead of AI (18.7%) and NFTs (17.5%). DeFi, although declining in users, remains essential for capital: ETH surged 60% in a month – Ethereum’s crypto recently crossed the $4,000 mark -, and staking rewards reached 29.4% APY.
On Solana, Hyperliquid generated 35% of blockchain revenues, managing 60% of daily perpetual volume and $5.1 billion bridged in USDC. But not everything is rosy: exploits and hacks cost $132 million in July, a +16% increase from June.
Figures that redraw the Web3 ecosystem:
$270B: DeFi TVL record as of July 28; $530M: NFT volume in July, +96% month-over-month; 3.85M: daily active wallets on NFT dapps; $132M: losses due to exploits in July. Facing this picture, regulation advances: in the United States, the GENIUS Act and the CLARITY Act pave the way for smoother integration between decentralized and traditional finance. “Project Crypto”, presented by the SEC, even plans specific standards for DeFi.
NFTs are no longer just a trend: they are establishing themselves as a lever for transformation in the crypto universe. By diversifying their uses, they are creating new bridges between digital assets and traditional markets. A dynamic that could, in the long term, profoundly change how exchanges and trading are organized in Web3.
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Mikaia A.
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The crypto market will welcome tokens worth more than $566 million in the final week of November 2025. Several major projects, including Hyperliquid (HYPE), Plasma (XPL), and Jupiter (JUP), will release significant new token supplies.
These unlocks might lead to market volatility and influence price movements in the short term. Here’s a breakdown of what to watch for each project.
1. Hyperliquid (HYPE) Unlock Date: November 29 Number of Tokens to be Unlocked: 9.92 million HYPE (0.992% of Total Supply) Current Circulating Supply: 270.77 million HYPE Total supply: 1 billion HYPE Hyperliquid is a leading decentralized perpetual futures exchange built on its own Layer-1 blockchain. It offers high-performance trading with low latency, on-chain order books, and also sub-second transaction finality.
On November 29, the project will release 9.92 million tokens valued at approximately $327.35 million. This accounts for 2.66% of the current released supply.
HYPE Crypto Token Unlock in November. Source: TokenomistHyperliquid will distribute all the unlocked tokens among core contributors.
2. Plasma (XPL) Unlock Date: November 25 Number of Tokens to be Unlocked: 88.89 million XPL (0.89% of Total Supply) Current Circulating Supply: 1.88 billion XPL Total supply: 10 billion XPL Plasma is a Layer 1 blockchain platform built to enhance the efficiency and scalability of stablecoin transactions. It enables zero-fee USDT transfers, allows the use of custom gas tokens, supports confidential payments, and delivers the throughput required for global-scale adoption.
Plasma will unlock 88.89 million XPL on November 25. The tokens are worth $17.53 million. Moreover, they account for 4.74% of the current circulating supply.
XPL Crypto Token Unlock in November. Source: TokenomistThe team will direct all of the 88.89 million XPL to the ecosystem and growth.
3. Jupiter (JUP) Unlock Date: November 28 Number of Tokens to be Unlocked: 53.47 million JUP (0.53% of Total Supply) Current Circulating Supply: 3.2 billion JUP Total supply: 10 billion JUP Jupiter is a decentralized liquidity aggregator on the Solana (SOL) blockchain. It optimizes trade routes across multiple decentralized exchanges (DEXs) to provide users with the best prices for token swaps with minimal slippage.
On November 28, Jupiter will unlock 53.47 million JUP tokens. The supply is worth approximately $12.83 million, representing 1.69% of its circulating supply. Furthermore, this unlock follows a monthly cliff vesting schedule.
JUP Crypto Token Unlock in November. Source: TokenomistJupiter has allocated the tokens primarily to the team, who will get 38.89 million JUP. Furthermore, Mercurial stakeholders will receive 14.58 million JUP altcoins.
In addition to these, other prominent unlocks that investors can look out for in the final week of November include Artificial Superintelligence Alliance (FET), Aerodrome Finance (AERO), IOTA (IOTA), and various altcoins, contributing to the overall market-wide releases.
The altcoin market is making its move. NEAR Protocol has surged over 72% in a single week, acting as the tip of the spear for the broader altcoin rotation. Hyperliquid just shattered its all-time high at $64, powered by over $1.16 billion in accumulated protocol buybacks. Capital is consolidating into assets with mechanical reasons to rise, and the momentum is undeniable.
But while the headlines belong to established names, the smartest money in crypto has always been made one step earlier, in the presale window, before the crowd arrives.
BlockDAG’s Turbo is that window right now. A fixed 50B supply. A 90-day presale across ten rounds. A burn engine running every single week. Casino utility, staking, VIP access, and NFT mechanics are already in motion. And a top crypto presale entry at $0.0005 that could look like generational value once exchange listings begin. This is where 7,900% is born.
Turbo’s Supply Shock Is Already in Motion: The Top Crypto Presale Now Table of Contents
Turbo’s Supply Shock Is Already in Motion: The Top Crypto Presale NowNEAR’s 72% Surge Is Real, And The Momentum Data Backs It UpAfter The HYPE All-Time High: Momentum Meets Its Biggest TestWhy TURBO Token Could Be The Next Breakout Star The math behind Turbo is simple, brutal, and powerful. 50,000,000,000 tokens minted at genesis. Not one more. Ever. From that fixed ceiling, the burn engine immediately starts cutting downward, with a long-term target of halving total supply to 25 billion through sustained weekly Foundation burns. Every week, 90% of Foundation burn activity goes to a permanent burn wallet, transaction hash published, verifiable on the BlockDAG Explorer by anyone. The supply shrinks. Every single week. Automatically.
Layer demand on top of that shrinking supply. Turbo has casino and gaming utility driving high-frequency transactions, staking mechanics reducing active circulation, VIP tiers incentivising accumulation, NFT access layers creating additional demand sinks, and a weekly prize pool rewarding holders simply for staying in the ecosystem. Every mechanism is a reason to hold, accumulate, and not sell.
This is precisely the dynamic that made Bitcoin’s halving cycles legendary. Demand grows. Supply shrinks. The price does what supply and demand always do when they move in opposite directions. Early NEAR participants who positioned before this week’s 72% move understood the momentum before the crowd did. Early HYPE holders who got in before the $1.16 billion buyback engine became common knowledge are sitting on life-changing returns. Turbo sits at that exact inflection point, a top crypto presale with a deflationary engine already running and exchange listings not yet arrived.
That last point is everything. The 90-day ten-round Access Round structure means every closing round removes supply from public allocation permanently. Once exchange listings begin and buyers who missed the presale start bidding, the ground floor is mathematically gone. This is still a top crypto presale. That changes soon.
NEAR’s 72% Surge Is Real, And The Momentum Data Backs It Up NEAR Protocol isn’t running on noise. Financial analysts tracking the current altcoin rotation note that liquidity is fragmenting heavily across the market, but traders are consolidating capital specifically into NEAR because it is showing sustained, multi-timeframe momentum rather than a single short-lived pump. That distinction separates assets that keep moving from ones that spike and fade.
Currently acting as the market’s leading altcoin indicator, NEAR’s move has enough technical confirmation across multiple timeframes to attract capital that stays rather than capital that trades. The Altcoin Season Index remains suppressed between 30 and 40, Bitcoin dominance sits at 58–60%, and yet NEAR is outperforming everything in its path. In a stock-picker’s market, that kind of selective strength is exactly what institutional desks look for when rotating out of BTC exposure.
The honest assessment for anyone asking whether NEAR is still the best crypto to buy right now: the momentum is real, the volume is real, and the rotation thesis holds. But 72% in a week means the easy entry is behind you.
After The HYPE All-Time High: Momentum Meets Its Biggest Test The HYPE all-time high of $64 didn’t happen because of social media speculation. Hyperliquid routes the vast majority of its trading fees into its Assistance Fund, which uses that capital to buy back HYPE from the open market continuously. Cumulative buybacks have topped $1.16 billion since launch. The price action follows the mechanics, always.
The platform is expanding aggressively. The SpaceX synthetic pre-IPO derivative (SPCX-USDC) launched last week, allowing retail traders to access implied SpaceX share price exposure permissionlessly without a traditional brokerage. That kind of product innovation keeps Hyperliquid in the best crypto to buy conversation regardless of short-term volatility.
But the immediate risk is real. RSI is pushing into overbought territory and a 7.88 million HYPE token unlock worth roughly $500 million is arriving this week. The market is split on whether Hyperliquid’s spot demand can absorb it cleanly or whether a sharp pullback is coming. Catching HYPE at all-time highs with $500 million in unlocking supply overhead is not a clean entry, it is a conviction test.
Why TURBO Token Could Be The Next Breakout Star NEAR’s 72% move and Hyperliquid’s relentless buyback engine are two of the most compelling stories in crypto right now, delivering serious returns for those who positioned early. But both have already moved significantly. NEAR’s upside is real but measured against an asset that just ran 72% in seven days. The HYPE all-time high just printed at $64 with a $500 million unlock imminent. The easy money in those trades belongs to whoever got in before this week.
Turbo is the trade that hasn’t happened yet, a deflationary top crypto presale with a burn engine running weekly, real utility live across gaming, staking, and VIP access, and a fixed 50B supply being permanently reduced before exchange listings arrive. Stage 1 sits at $0.0005 against a $0.04 projected listing price. The 7,900% window is open. It is also closing, round by round, burn by burn. Every week you wait, more supply is gone forever.
Join BDAG TURBO Presale Now:
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Top 1 On-Chain Liquidation: ETH Bull Whale Hit With 4 Consecutive Forced Liquidations, $14.11 Million in Positions Liquidated
According to Hyperinsight monitoring, today’s largest liquidation on the Hyperliquid platform involved a high-leverage Ethereum (ETH) long whale. The address opened a long position yesterday when ETH was trading at roughly $1,661, and immediately incurred losses after entry. Triggered by ETH’s short-term dip below $1,600 in the early hours of today, the whale faced four consecutive liquidations, resulting in the forced closure of a total of 8,734 ETH positions valued at approximately $14.11 million. The address now holds less than $150,000 in remaining funds, with all positions fully cleared. Address: 0x1cb0b187c14a8c0fb36ca0dcbb775dcc7f02b408
22 minutes ago
A certain on-chain address opened long positions in BTC, ETH, and silver, and purchased $10.699 million worth of BTC and ETH spot.
According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, address 0x960…3f0fc simultaneously went long on both futures and spot positions this early morning, opening long positions of 102.55 BTC, 954.38 ETH, and 8,790 silver units, with total position value around $8.29 million. It also purchased spot BTC and ETH worth approximately $10.699 million. Its current take-profit levels are set at $63,000 for BTC and $1,650 for ETH.
22 minutes ago
A whale that reaped over $23.77 million in profits from the Basic Attention Token (BAT) ICO has reawakened after six years of dormancy, offloading 12,600 ETH in the past two days.
According to monitoring by EmberCN, a whale address that participated in the BAT ICO in 2017 and generated approximately $23.77 million in total profits has started selling ETH recently after six years of inactivity. Over the past two days, the address has sold 12,586 ETH, receiving 20.59 million USDS in exchange, at an average selling price of roughly $1,636. The whale invested 17,789 ETH in the BAT ICO in May 2017, acquiring around 113.8 million BAT. It then sold BAT gradually over approximately two and a half years at an average price of $0.245, netting about $23.77 million in profits, with some of the BAT converted into 27,586 ETH. Since then, the ETH has remained inactive for a long time until it resumed reducing its holdings recently. Currently, the address still holds around 15,000 ETH, valued at approximately $24.29 million.
22 minutes ago
Japanese storage firm Kioxia plans to list American Depositary Receipts (ADRs) in the U.S. in April or May next year.
Market news: Japanese storage chip maker Kioxia plans to list its American Depositary Receipts (ADRs) in the U.S. in April or May next year. (Jinshi)
22 minutes ago
Micron's earnings report lifts SK Hynix's stock price 11%, trader 'yixie' expands their unrealized profit to $1.3 million.
According to Hyperinsight monitoring, Micron’s Q3 financial results exceeded all expectations, driving peer SK Hynix’s stock to rally nearly 11% from its recent low. On the Hyperliquid platform, SKHYNIX is currently trading at $1,821, up 6.2% in the past 24 hours. Prominent trader yixie (X: @yixie10) nearly doubled his principal during this rally; he is now holding a 2x long position of 2,289 SKHYNIX contracts at an average entry price of ~$1,239.9. Fueled by the rally, the position’s unrealized profit has expanded to $1.37 million, a 96% gain. As of press time, the trader boasts an 85% win rate in semiconductor storage stock trades since opening positions this year, with total historical profits of $6.68 million, including $4.25 million from Micron Technology trades. Address: 0xa65ce1d604fa901c13aa29f2126a57d9032e412b – HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain news.
22 minutes ago
STRC drops to near $80, marking another new all-time low.
According to Bitget market data, Strategy’s preferred stock STRC has dropped to a low of $80.26, hitting a new all-time low since its listing. Calculated based on a $100 par value, the current discount has reached 20%.
Wallet Pulls $2.93M in HYPE from GateA wallet linked to BitMEX co-founder Arthur Hayes (@CryptoHayes) withdrew $2.93 million worth of $HYPE from Gate exchange on June 23, according to on-chain analytics platform Lookonchain. The move marks the second time in two weeks the address has accumulated Hyperliquid's native token, with the two trades together generating a combined $508,000 in profit.
The wallet, identified by the address prefix 0xf7A4, has drawn consistent attention from on-chain analysts throughout 2026. As with all on-chain wallet attributions, the link to Hayes is based on analyst clustering methodology and has not been independently confirmed by Hayes himself.
A Pattern of HYPE Swing TradesThe latest buy is the most recent chapter in a busy stretch of activity tied to this address. Earlier reporting from Bitcoin.com News documented that the same wallet had deposited 115,453 HYPE worth $6.33 million into Bybit, a move later confirmed as a sale at an average of $54.81 per token. The wallet then withdrew 85,714 HYPE from Bybit at $62.69 per token, roughly three hours before that analysis was published, locking in a gain on the round trip.
Separately, in early June, Lookonchain flagged a $2.09 million HYPE withdrawal from Bybit tied to the same address. Hayes publicly denied that transaction, writing on X that he had not made the purchase. The denial came days after he disclosed exiting his entire HYPE position at prices above $72, citing macro concerns including rising energy costs and expected pressure from large AI IPOs.
Hyperliquid itself remains one of the stronger-performing assets in crypto this year. The platform operates a fully on-chain perpetual futures exchange and has cleared around $40 billion in weekly perp volume, according to CoinDesk. $HYPE hit an all-time high of $76.85 on June 16, 2026, per CoinMarketCap data, before pulling back toward current levels.
Whether the 0xf7A4 wallet represents Hayes personally or another party operating within the same cluster remains unverified. Traders will likely keep watching the address closely given its track record of well-timed entries and exits in HYPE.
Sources:
CoinDesk: Hyperliquid pulls back as Arthur Hayes exits position
Bitcoin.com News: Arthur Hayes HYPE wallet activity breakdown
CoinMarketCap: Hyperliquid (HYPE) price and market data
Despite a wider correction in the crypto market, some altcoins are surging this week, with SPX, WBT, and HYPE leading the charge among top gainers. SPX has jumped over 100% in the past 30 days, solidifying its role as a major meme coin.
WhiteBIT Token (WBT) hit a new all-time high above $38, showing strong momentum despite a broader market pullback. Meanwhile, HYPE continues to dominate the perpetuals market, trading near record highs as its market cap pushes it into the crypto top 10.
SPX6900 (SPX)SPX has been one of the standout performers among meme coins over the past month, with its price soaring nearly 102% in the last 30 days and another 28% just in the past week.
With a market cap of $1.34 billion and a 24-hour trading volume of $138 million, SPX has firmly established itself as a major player in the meme coin sector.
SPX Price Analysis. Source: TradingView.From a technical perspective, SPX’s EMA lines remain bullish, with short-term averages still above long-term ones—although the gap between them is starting to narrow.
This suggests some weakening in upward momentum, making the support level at $1.22 a key zone to watch. If that level breaks, price could retrace further toward $0.99 and potentially $0.90.
However, if bullish sentiment holds and volume picks up, SPX could retest and possibly break its resistance at $1.74, opening the door for another leg higher.
Whitebit Coin (WBT)WhiteBIT Coin (WBT) defied the broader market downturn to set a new all-time high above $38, making it the top-performing coin of the day.
With a 13% gain in the last 24 hours and nearly 23.5% over the past week, WBT has shown notable resilience and strong investor interest despite overall market weakness.
WBT Price Analysis. Source: TradingView.Looking ahead, if bullish pressure continues and market conditions stabilize, WBT could target the psychological levels at $40 and potentially $45.
However, short-term caution remains warranted, as the nearest support at $32.22 will be key to maintaining the current uptrend. A break below that level could trigger further downside toward $30.86.
Hyperliquid (HYPE)Hyperliquid’s native token, HYPE, has been trading near all-time highs over the past several days, currently hovering around $40 after briefly touching levels close to $44.
The token is up nearly 64% over the past 30 days, placing it among the top 10 cryptocurrencies by market cap when excluding stablecoins and wrapped assets. This surge reflects Hyperliquid’s dominance in the perpetuals trading space, with the protocol now capturing 76.9% market share—up from 63.7% in December 2024.
HYPE Price Analysis. Source: TradingView.From a technical standpoint, HYPE still shows strong bullish momentum, supported by its recent listing on Binance US and ongoing speculation around a potential Binance listing.
If the rally continues, the token could soon break above the $45 mark. However, if price starts to cool and the $38.2 support level is lost, a drop toward $32.63 becomes more likely.
Shekel announced a strategic partnership with Symphonyio to launch its V2 trading agents, marking a major upgrade to its agentic trading framework.
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We are pleased to announce a strategic partnership with @Symphonyio!
We have been quietly building V2 agents with Symphony's top tier team for the last few months and are excited to finally pull back the curtain and show what happens when you combine powerful execution rails… pic.twitter.com/RJJ9mdKh3Q
— Shekel (@Shekel_Agentic) October 30, 2025
The two teams have been developing the new version over the past several months, integrating Symphonyio’s execution rails with Shekel’s AI-driven agent infrastructure.
The result is a next-generation platform that allows users to create and deploy no-code perpetual trading agents capable of executing on major decentralized exchanges, including Hyperliquid and Gains Network. These agents are designed to optimize entries and funding rates across multiple markets while maintaining full customization.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Top 1 On-Chain Liquidation: ETH Bull Whale Hit With 4 Consecutive Forced Liquidations, $14.11 Million in Positions Liquidated
According to Hyperinsight monitoring, today’s largest liquidation on the Hyperliquid platform involved a high-leverage Ethereum (ETH) long whale. The address opened a long position yesterday when ETH was trading at roughly $1,661, and immediately incurred losses after entry. Triggered by ETH’s short-term dip below $1,600 in the early hours of today, the whale faced four consecutive liquidations, resulting in the forced closure of a total of 8,734 ETH positions valued at approximately $14.11 million. The address now holds less than $150,000 in remaining funds, with all positions fully cleared. Address: 0x1cb0b187c14a8c0fb36ca0dcbb775dcc7f02b408
4 minutes ago
A certain on-chain address opened long positions in BTC, ETH, and silver, and purchased $10.699 million worth of BTC and ETH spot.
According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, address 0x960…3f0fc simultaneously went long on both futures and spot positions this early morning, opening long positions of 102.55 BTC, 954.38 ETH, and 8,790 silver units, with total position value around $8.29 million. It also purchased spot BTC and ETH worth approximately $10.699 million. Its current take-profit levels are set at $63,000 for BTC and $1,650 for ETH.
4 minutes ago
A whale that reaped over $23.77 million in profits from the Basic Attention Token (BAT) ICO has reawakened after six years of dormancy, offloading 12,600 ETH in the past two days.
According to monitoring by EmberCN, a whale address that participated in the BAT ICO in 2017 and generated approximately $23.77 million in total profits has started selling ETH recently after six years of inactivity. Over the past two days, the address has sold 12,586 ETH, receiving 20.59 million USDS in exchange, at an average selling price of roughly $1,636. The whale invested 17,789 ETH in the BAT ICO in May 2017, acquiring around 113.8 million BAT. It then sold BAT gradually over approximately two and a half years at an average price of $0.245, netting about $23.77 million in profits, with some of the BAT converted into 27,586 ETH. Since then, the ETH has remained inactive for a long time until it resumed reducing its holdings recently. Currently, the address still holds around 15,000 ETH, valued at approximately $24.29 million.
4 minutes ago
Japanese storage firm Kioxia plans to list American Depositary Receipts (ADRs) in the U.S. in April or May next year.
Market news: Japanese storage chip maker Kioxia plans to list its American Depositary Receipts (ADRs) in the U.S. in April or May next year. (Jinshi)
4 minutes ago
Micron's earnings report lifts SK Hynix's stock price 11%, trader 'yixie' expands their unrealized profit to $1.3 million.
According to Hyperinsight monitoring, Micron’s Q3 financial results exceeded all expectations, driving peer SK Hynix’s stock to rally nearly 11% from its recent low. On the Hyperliquid platform, SKHYNIX is currently trading at $1,821, up 6.2% in the past 24 hours. Prominent trader yixie (X: @yixie10) nearly doubled his principal during this rally; he is now holding a 2x long position of 2,289 SKHYNIX contracts at an average entry price of ~$1,239.9. Fueled by the rally, the position’s unrealized profit has expanded to $1.37 million, a 96% gain. As of press time, the trader boasts an 85% win rate in semiconductor storage stock trades since opening positions this year, with total historical profits of $6.68 million, including $4.25 million from Micron Technology trades. Address: 0xa65ce1d604fa901c13aa29f2126a57d9032e412b – HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain news.
4 minutes ago
STRC drops to near $80, marking another new all-time low.
According to Bitget market data, Strategy’s preferred stock STRC has dropped to a low of $80.26, hitting a new all-time low since its listing. Calculated based on a $100 par value, the current discount has reached 20%.
PANews, June 20 – A controversy has erupted within the Hyperliquid community over the positioning of HyperEVM, with critics arguing that HyperEVM was not designed as a general-purpose Ethereum execution environment, but rather as a dedicated execution layer focused on composable interaction with Hypercore. Its core design should rely on corewriter and precompiled contracts rather than being used as a general-purpose L1. However, developers currently face a steep learning curve, and complex system address interactions require multiple transactions for cross-asset operations, resulting in low efficiency. In most cases, asset swaps are not even as efficient as AMM mechanisms.
Furthermore, HyperEVM has long suffered from being "neglected," possibly because the team's resources have been concentrated on core products such as HIP-3, HIP-4, and portfolio margin, leading to insufficient investment in ecosystem development. The community suggests that to boost HyperEVM ecosystem activity, developer tools need to be improved, the corewriter mechanism optimized, and more on-chain experimental applications akin to the DeFi Summer style incentivized; otherwise, smart contract innovation may continue to slow down.
Hongji is a reporter who covers crypto, finance, and tech. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX,...
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Last updated:
January 7, 2025
Hyperliquid highlighted key milestones in 2024, including reaching $15 billion in daily trading volume and expanding its user base ninefold to 300,000 users.
According to a post by Hyper Foundation, the decentralized exchange attributed its rapid growth and ecosystem expansion to updates such as the HyperBFT consensus, HIP token standards, and staking features.
Hyperliquid’s Exponential Growth in 2024Hyperliquid experienced growth in 2024, with its 24-hour all-time high (ATH) trading volume climbing from $1 billion to $15 billion.
This major increase in trading activity was accompanied by growth in other metrics, highlighting Hyperliquid’s expanding market presence.
Hyperliquid started 2024 as a barely-known perp dex and ended the year as one of the largest decentralized financial hubs, processing billions in volume per day with a thriving ecosystem of builders, traders, and community members.
Thank you to everyone who came together for a… pic.twitter.com/GgmlsiW4mg
— Hyperliquid (@HyperliquidX) January 7, 2025 Open interest rose from $178 million to $4.3 billion, while total value locked (TVL) climbed from $56 million to $2.1 billion.
Additionally, the exchange’s user base expanded from 31,000 to 300,000, marking a ninefold rise.
Hyperliquid also supported 158 perpetual trading pairs and 128 native spot assets, generating over $3.5 million in daily revenue from trading fees and spot auctions.
These achievements were underpinned by the introduction of staking mechanisms and native token standards, including HIP-1 and HIP-2, which streamlined token usage across its platform.
Ecosystem Expansion Through New Features in 2024Throughout 2024, Hyperliquid launched new features and integrations that strengthened its ecosystem.
Third-party platforms, including Synapse, deBridge, and DEX Screener, bolstered interoperability and trading tools within Hyperliquid’s ecosystem.
Projects launched on Hyperliquid during the year included applications like HypurrScan, which allows users to analyze blockchain data, and HypurrFun, a platform for trading and creating meme coins.
Community-driven initiatives, such as Hyperliquid KR and HyperActive, further contributed to regional expansion and outreach efforts.
“All of this was achieved without taking any external funding and giving all trading fees to the community,” Hyper Foundation stated in its post. “Thank you to everyone who came together for a record-breaking 2024.”
May 21. On May 20, the U.S. Spot Hyperliquid ETF notched $25.5 million in net inflows—its largest single-day haul since launch. In the days leading up to that date, the ETF had posted net inflows of $4.4 million on Monday and $11 million on Tuesday. Data shows the 21Shares Hyperliquid ETF (THYP), which launched on May 12, brought in $16.7 million in net inflows that same day—up from the $5.3 million it saw the prior day. The Bitwise Hyperliquid ETF (BHYP), launched on May 14, took in $8.8 million, a jump from the $5.7 million it recorded the day before. Over its first seven trading days, the entire category has pulled in a total net inflow of $54 million. Peter Chung, research director at Presto Research, noted that when adjusted for market capitalization, institutional flows into the HYPE ETF have outpaced the speed of inflows into Bitcoin ETFs so far this year. Dominick John, an analyst at Zeus Research, added that these inflows signal investors are capitalizing on entry points tied to the infrastructure narrative, while recognizing the asset’s transparent, usage-driven revenue model. Fueling this momentum, HYPE’s token price surged 17.3% in the past 24 hours to $55.91, with a current market cap of roughly $13.4 billion. The token previously hit an all-time high of around $59.3 in September 2025. Per CoinGecko data, HYPE’s fully diluted valuation briefly reached about $54.7 billion, momentarily surpassing Solana’s $54.2 billion valuation at the time. Tim Sun, a senior researcher at HashKey Group, believes the sustained inflows into the HYPE ETF show the market is forming a new consensus: decentralized trading platforms are starting to be integrated into broader overhauls of financial infrastructure. Jeff Ko, chief analyst at CoinEx, pointed out that HYPE and its related ETFs have structural investment logic distinct from Bitcoin and Ethereum. He explained: Bitcoin acts as a non-yielding store of value; Ethereum centers on staking rewards; HYPE, meanwhile, operates more like equity in a cash-flow-generating trading platform—since the protocol uses most of its fees for open-market token buybacks, giving investors a more familiar valuation framework to work with. On-chain metrics confirm Hyperliquid has become a dominant player in on-chain perpetual contract and derivative trading. So far this week, the network has captured approximately 42% of total blockchain fees, outperforming Tron (22.6%), Solana (10.6%), and Ethereum (8%) in that key metric.
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Japanese storage firm Kioxia plans to list American Depositary Receipts (ADRs) in the U.S. in April or May next year.
Market news: Japanese storage chip maker Kioxia plans to list its American Depositary Receipts (ADRs) in the U.S. in April or May next year. (Jinshi)
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Micron's earnings report lifts SK Hynix's stock price 11%, trader 'yixie' expands their unrealized profit to $1.3 million.
According to Hyperinsight monitoring, Micron’s Q3 financial results exceeded all expectations, driving peer SK Hynix’s stock to rally nearly 11% from its recent low. On the Hyperliquid platform, SKHYNIX is currently trading at $1,821, up 6.2% in the past 24 hours. Prominent trader yixie (X: @yixie10) nearly doubled his principal during this rally; he is now holding a 2x long position of 2,289 SKHYNIX contracts at an average entry price of ~$1,239.9. Fueled by the rally, the position’s unrealized profit has expanded to $1.37 million, a 96% gain. As of press time, the trader boasts an 85% win rate in semiconductor storage stock trades since opening positions this year, with total historical profits of $6.68 million, including $4.25 million from Micron Technology trades. Address: 0xa65ce1d604fa901c13aa29f2126a57d9032e412b – HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain news.
3 minutes ago
STRC drops to near $80, marking another new all-time low.
According to Bitget market data, Strategy’s preferred stock STRC has dropped to a low of $80.26, hitting a new all-time low since its listing. Calculated based on a $100 par value, the current discount has reached 20%.
3 minutes ago
OKX will launch CARDS spot trading today.
According to an official announcement, OKX will launch spot trading for CARDS (Collector Crypt) today. CARDS deposits will open at 18:00 UTC+8 on June 25, pre-ordering for the CARDS/USDT trading pair will run from 19:00 to 20:00 UTC+8, spot trading will officially commence at 20:00 UTC+8, and withdrawal functions will be available at 22:00 UTC+8.
3 minutes ago
Iran's Revolutionary Guards Corps warned that any vessels using the Strait of Hormuz route without Tehran's approval will be targeted.
Iran's Islamic Revolutionary Guard Corps (IRGC) issued a stern warning to international shipping on Wednesday, stating that any new shipping route through the Strait of Hormuz established without coordination with Tehran is unacceptable and dangerous, and threatening to take direct action against vessels that ignore its orders. The IRGC declared that vessels can only safely transit the Strait of Hormuz via routes designated by Iran. The IRGC Navy added that all vessels seeking to transit the strait must coordinate with the Iranian military via International Maritime Distress and Safety Frequency Channel 16, a requirement that effectively places Iranian military approval at the core of all commercial shipping transiting this key chokepoint. (Jinshi)
3 minutes ago
A crypto whale holding 120,000 ETH long positions has an unrealized loss of over $77 million, and added $8 million in margin in the early hours.
According to on-chain analyst ai_9684xtpa’s monitoring, a whale holding 120,000 ETH in long positions added $8 million in margin in the early hours. Currently, the total unrealized loss on its ETH long positions across four linked addresses stands at approximately $77.047 million, with an average entry price of around $2,265. Data shows the liquidation prices for the four addresses are $1,174.6, $1,059.1, $1,064.7, and $1,143.6 respectively. Despite the significant paper losses, there remains a large buffer before liquidation, and over 6 million USDC is still held on-chain to replenish margin, resulting in low short-term liquidation risk.
HYPE, UNI, WLD posted double-digit gains while bitcoin and most of the crypto market drifted lower.Hyperliquid is benefiting from enthusiasm around onchain exchanges, while Worldcoin remains one of the market's most popular AI-linked bets.Uniswap rallied after a major bank argued decentralized finance (DeFi) could become one of crypto's biggest growth sectors.Bitcoin BTC$60,804.43 and the broader crypto market has cooled off on Tuesday, but a handful of tokens continued their surge.
Hyperliquid's HYPE, Uniswap's UNI and Worldcoin's WLD all posted double-digit gains, extending rallies that have made them some of this week's standout performers.
HYPE surged as much as 13% to a fresh record above $76 before paring some gains. The token is now up nearly 200% in 2026, making it one of the best-performing large-cap crypto assets this year.
Hyperliquid operates a blockchain-based exchange that allows users to trade perpetual futures through an onchain order book. Investors increasingly see the platform as a potential challenger to traditional exchanges, with ambitions extending beyond crypto into tokenized stocks, commodities and other assets
Some observers also speculated that Hyperliquid's growing relationship with Coinbase could deepen after making Circle's USDC the primary trading pair on the platform. Under the arrangement, part of the revenue generated from U.S. Treasury securities backing USDC will be used to purchase HYPE tokens.
Worldcoin's WLD token gained 12%, pushing its monthly advance to roughly 180%.
The project, co-founded by OpenAI CEO Sam Altman, has become one of crypto's most direct ways to express a bullish view on artificial intelligence (AI). The token has benefited from renewed enthusiasm around AI-related investments following the strong market debut of SpaceX, which also owns AI company xAI, and growing expectations that OpenAI could eventually pursue a public listing.
Decetralized exchange Uniswap's UNI token surged another 18% after Standard Chartered initiated coverage on Monday with a highly bullish long-term outlook on the protocol.
Geoffrey Kendrick, the bank's head of digital asset research, argued that decentralized finance (DeFi) could become one of crypto's biggest growth stories as tokenized stocks, bonds and other traditional assets move onchain.
In the report, Kendrick estimated the amount of assets actively used in DeFi could increase 37-fold by the end of the decade and sees Uniswap, the largest decentralized exchange, as one of the clearest beneficiaries.
He initiated coverage with a $100 price target for UNI by 2030, implying roughly 30 times upside from current levels.
Cronos (CRO), Numeraire (NMR), and Hyperliquid (HYPE) emerged as the top crypto gainers on Wednesday, rallying strongly on the back of bullish news and market momentum. Cronos price surges to a new yearly high following Trump Media's plans for a CRO treasury company. At the same time, Numeraire soared after securing a massive $500 million commitment from JPMorgan Asset Management. Meanwhile, Hyperliquid (HYPE) extended its upward run, breaking past its record high and entering price discovery mode.
Cronos price hits a yearly high as Trump Media announces plans to establish a CRO treasury companyTrump Media Group announced on Tuesday that it has agreed with Crypto.com to establish a CRO treasury company. The companies will jointly establish Trump Media Group CRO Strategy Inc., with an expected funding of $6.42 billion at launch. The initial investment will comprise $1 billion in CRO (approximately 6.3 billion CRO), $200 million in cash, $220 million in warrants, and an additional $5 billion line of credit from an affiliate of Yorkville.
This news announcement triggered a sharp rally in CRO's price, reaching a new yearly high of $0.21 that day.
CRO's daily chart, as shown below, highlights that the upward trend continues, trading higher by 3.57% at the time of writing on Wednesday, around $0.20.
If the upward momentum continues, CRO could extend the rally toward its December $0.23.
The Relative Strength Index (RSI) on the daily chart reads 76, above its overbought territory, pointing upward and indicating strong bullish momentum. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover on Tuesday, providing a buy signal and reinforcing the bullish thesis.
CRO/USDT daily chart
Numeraire jumps on $500 million JPMorgan backingBloomberg report on Tuesday highlighted that crowdsourced quantitative fund Numerai has secured a commitment of up to $500 million from JPMorgan Chase & Co.'s asset-management arm, to be deployed over the next year. The quantitative firm currently operates with approximately $450 million. This news triggered a sharp rally in the NMR token price, with gains of over 100% that day.
The daily chart below shows that the NMR price extends its gains by 10% at the time of writing on Wednesday, trading above $17.80.
If NMR continues its upward momentum, it could extend the rally toward its next weekly resistance at $22.29.
The RSI on the daily chart reads 82 above its overbought conditions, suggesting strong bullish momentum.
NMR/USDT daily chart
Hyperliquid hits a new all-time high Hyperliquid price found support around the ascending trendline (drawn by connecting multiple lows since early April) on Thursday and rose 13.88% over the next three days, closing above its 50-day Exponential Moving Average (EMA) at $42.44. However, on Monday, it faced a 6.6% correction, retesting the 50-day EMA and finding support, rallying by over 13% the next day. At the time of writing on Wednesday, it continues its rally, surpassing its previous record high at $49.88.
HYPE enters a price discovery mode, and if it continues its rally, it could extend gains to test its key psychological level at $60.
The RSI on the daily chart reads 61 above its neutral level of 50, indicating bullish momentum. The MACD also showed a bullish crossover on Tuesday, further supporting the bullish thesis.
HYPE/USDT daily chart
However, if HYPE faces a correction, it could extend the decline toward its 50-day EMA at $42.92.
PANews reported on June 5th that, according to SoSoValue data, the crypto market generally declined, with the DeFi sector falling 9.16% in the last 24 hours. Within the DeFi sector, Hyperliquid (HYPE), which had previously been breaking records, corrected by 9.15%, and LAB (LAB) fell by 37.47%, but DeXe (DEXE) bucked the trend, rising by 14.58%. However, the GameFi and NFT sectors remained relatively resilient, rising by 0.49% and 1.38% respectively. Within the GameFi sector, Audiera (BEAT) surged by 20.27%, and within the NFT sector, APENFT (NFT) rose by 0.15%.
In addition, Bitcoin (BTC) rebounded slightly by 1.33%, breaking through $63,000; Ethereum (ETH) continued to fall by 0.92%, dropping below $1,800.
In other sectors, the CeFi sector fell 1.37% in the last 24 hours, while Cronos (CRO) rose 0.12%; the PayFi sector fell 1.55%, while Telcoin (TEL) rose 24.29%; the Meme sector fell 2.01%, but Siren (SIREN) rose 28.48%; the Layer 1 sector fell 4.10%, while Humanity (H) remained relatively strong, rising 3.90%; the Layer 2 sector fell 5.59%, while Starknet (STRK) rose 3.48% intraday.
The broader cryptocurrency market is under pressure with Bitcoin (BTC) slipping below $62,000 on Wednesday amid the US launching its third wave of strikes on Iran. Hyperliquid (HYPE) and DeXe (DEXE) are leading losses over the last 24 hours, risking the prevailing upward trend.
US-Iran stress weighs back on BitcoinBitcoin dropped below $62,000 on Tuesday, failing to extend the clean rebound seen during the previous retest of the $60,000 mark in early February. The recent sell-off triggered by the stronger-than-expected US Jobs data now faces the additional weight of the renewed US-Iran tensions. US Central Command (CENTCOM) launched strikes against Iran in response to the downing of a US Army Apache helicopter.
Bitcoin maintains a bearish near-term bias as price holds well below the 50-, 100-, and 200-day Exponential Moving Averages, which now stack as overhead resistance from around $72,045 up to $79,295. From a technical perspective, the failure above the former rising support trendline, now turned into resistance near $72,163, underscores a broken medium-term uptrend.
That said, the Relative Strength Index (RSI) at roughly 24 sits in oversold territory while the Moving Average Convergence Divergence (MACD) and its signal line remain negative, both hinting that while downside pressure persists, the pace of the decline could start to moderate.
On the downside, the key level to watch is the horizontal support around $60,000, where buyers previously emerged. A clear break and daily close below this floor would open the door to an extension of the current downtrend, whereas sustained defense of 60,000 could allow for a corrective bounce back toward the aforementioned resistance band.
BTC/USDT daily price chart.Looking up, the immediate resistance aligns with the March 29 low at $65,000, followed by the April 12 low of $70,505.
Hyperliquid risks losing the $50 thresholdHyperliquid extends losses toward the $50 mark at press time on Wednesday, following a 9% drop the previous day. HYPE risks losing a constructive bullish bias, which remains supported by a cluster of underlying moving averages, with the 50-day EMA at $53.74, the 100-day EMA at $47.18, and the 200-day EMA at $41.48.
Though the EMAs suggest an intact broader uptrend, momentum has cooled on the daily chart with the recent pullback. The RSI is hovering near a neutral 48, and the MACD and signal lines fall toward the zero line after a bearish crossover on Friday, suggesting waning upside pressure rather than an outright trend reversal.
On the downside, immediate support is seen at the 50-day EMA at $53.74, followed by the 78.6% Fibonacci retracement at $51.11, measured from the $59.45 to $2.51 downswing.
HYPE/USD daily price chart.On the topside, initial resistance is aligned with the 100% Fibonacci retracement at $59.45, where a clear break would reopen the path toward the 127.2% Fibonacci extension level at $70.04.
DeXe's reversal puts a prolonged uptrend at riskDeXe maintains a bullish near-term bias as price holds well above the 50-, 100-, and 200-day EMAs at $15.19, $12.20, and $9.78, respectively, which act as the underlying support structure.
However, the MACD has slipped marginally below the signal line, signaling a bearish crossover and hinting at a potential renewal of bearish momentum. Meanwhile, the RSI near 59 reflects constructive momentum as overbought conditions wane.
On the downside, initial support is seen at the 50-day EMA near $15.19, with deeper downside exposure pointing to the 100-day EMA around $12.20 and then the 200-day EMA near $9.79 if selling pressure accelerates. As long as DEXE/USDT holds above the 50-day EMA, pullbacks are likely to be treated as corrective within the prevailing uptrend, while a daily close below this level would weaken the bullish structure and expose a broader retracement towards the lower moving average supports.
DEXE/USDT daily price chart.A potential rebound in DEXE could test the R1 Pivot Point at $22.41, which capped the bullish recovery attempt on Monday.
(The technical analysis of this story was written with the help of an AI tool.)
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With the new year just one day away, crypto analyst Alex Wacy (@wacy_time1) shared an overview of what he calls the best altcoins heading into 2025. The analyst, who has amassed an audience of over 190,000 followers on X, highlighted several projects that he believes have the potential to dominate in the potential coming altseason.
Best Altcoins In 2025 He begins with Render (RNDR), describing it as a decentralized GPU rendering platform for AI, metaverse, and creative content. He maintained that “Render is poised to become a key player in the virtual future,” pointing to its $3.66 billion market capitalization as evidence of investor confidence.
Following closely is Virtual, an AI-driven avatar initiative that is pegged at $3.41 billion in market cap, with Wacy touting Virtual as “the growth leader in 2024 in the virtual avatar sector” and predicting increasing adoption for metaverse, gaming, and social media applications.
Wacy also turns his attention to SEKOIA, mentioning its focus on identifying and mentoring emerging AI talent. Although smaller in scale at a $94 million market cap, this autonomous AI investment agent uses advanced pattern recognition and quantifiable predictions to gain a foothold in a competitive space.
Next in line for the best altcoins in 2025 is Pengu, which he calls “the official coin of Paddy Penguin, a major force in crypto.” Its substantial community and cultural traction reflect a hefty $2.28 billion market valuation, and its omnipresence in ETF ads combined with over 90 billion visits appear to confirm its cult-like following.
The list of best altcoins continues with Clearpool (CPOOL), a Decentralized Capital Markets Ecosystem valued at $341 million that provides insured loans to institutional borrowers in the DeFi arena through a dynamic interest model. The analyst noted that Clearpool’s approach to decentralized lending could offer a unique avenue for strategic investors.
He also spotlights Bittensor (Tao), a project intent on decentralizing AI solutions through an open ecosystem, weighed at $3.48 billion, and Hyperliquid (HYPE), a decentralized perpetuals exchange living on its own L1 with a $9.23 market cap. He describes Hype’s vision as “a high-speed, low-cost, transparent solution for perpetual futures,” though he advises caution, remarking that prospective investors should “research to understand its risks and potential.”
Io.net, which sits at $397 million, is categorized as a decentralized GPU network that reduces costs for AI developers, while CFG (Centric) aims to bridge DeFi with real-world assets. This $162 million project focuses on stable returns generated from real fiat value rather than solely leveraging volatile crypto.
Akash Network (AKT), valued at $746 million, is labeled by Wacy a “supercloud” that transforms cloud computing through a decentralized marketplace, and Ethena (ENA), at $2.69 billion, provides a synthetic dollar protocol on Ethereum, touted as “a crypto-native, bank-free solution for money.”
Wacy’s list also featured Helium (HNT) with a $1.13 billion market cap, identified for its decentralized IoT network, and Griffain in the Solana ecosystem, with a $211 million market cap, delivering scalable DeFi solutions for token swaps while upholding transparency.
The analyst also highlights Grasso (GRASS) in his list of the best altcoins for 2025 and its $683 million market cap, describing its decentralized data collection network for AI training as both functional and user-friendly. VitaDAO (VITA) is in Wacy’s focus because of its community-governed DAO funding longevity research. Its compact $54 million market cap appears poised for growth as members actively engage in decision-making and ownership, signifying a communal approach to biotech research in crypto.
Spectral, carrying a $194 million market cap, offers on-chain agents for easier application creation and includes a syntax tool that transforms natural language into Solidity. ETIGEN, or Energy Layer, at $170 million, extends novel concepts of restorative energy on Ethereum, and ONDO, with an impressive $2.83 billion market cap, aims to open up institutional-grade DeFi services and real-world asset (RWA) tokenization.
Wacy further singles out AIXTB, at $377M, which monitors crypto-related discussions via a proprietary engine to uncover high-sentiment opportunities, and Ether.fi (ETHFI), priced at $446M, which supports non-custodial ETH staking and DeFi integration. Throughout his breakdown, he underscored the cyclical nature of the crypto market, stating that these best altcoins “could see significant growth in 2025” once capital flow rotates away from Bitcoin and into high-potential altcoin narratives.
His overall thesis hinges on what he perceives as a predictable pattern in every major market cycle. “Altcoins typically pumping when BTC Dominance starts a strong downtrend,” the analyst wrote. He cited the example from 2021, when Bitcoin’s dominance fell from around 73% to 40%, triggering a monumental rally for altcoins like SOL, ADA, and DOGE.
Pointing out that current BTC dominance is about 55%, which he calls a “significant resistance zone,” he predicts a swift drop to 40% if a breakdown occurs. “As I mentioned before, my bet for the altseason is in the spring of 2025,” he said, while admitting that he also shares the common sentiment of disbelief that surrounds every cycle. “That’s okay, it means the market is doing a good job of ‘smoking people out.’ Patience friends, patience always pays off,” he concluded.
At press time, the Bitcoin dominance (BTC.D) stood at 58.02%.
Bitcoin dominance, 1-week chart | Source: BTC.D on TradingView.com Featured image created with DALL.E, chart from TradingView.com
Polygon‑incubated Katana has acquired veteran DEX IDEX to launch Katana Perps, folding a decade of exchange tech into its DeFi stack as it races Hyperliquid and dYdX for onchain derivatives volume.
Summary
Polygon‑incubated DeFi chain Katana has acquired veteran DEX IDEX to power Katana Perps, a new perpetual futures platform that natively integrates spot and derivatives trading. CEO Matthew Fisher says the goal is to “own more of the trading stack and the revenue that comes with it” as onchain derivatives volumes and always‑on markets surge. Market makers including GSR, Selini Capital, and Auros are seeding liquidity, positioning Katana as a full‑stack DeFi chain spanning spot, lending, launches, and perps. Katana, a DeFi‑focused Ethereum scaling chain incubated by Polygon Labs and trading firm GSR, has acquired decentralized exchange IDEX, using its infrastructure to launch Katana Perps, a perpetual futures venue built directly into the Katana app. The deal, announced on March 23, 2026, brings nearly a decade of exchange technology from the 2017‑founded DEX into Katana’s stack, with IDEX now “relaunching as Katana Perps” and serving as the native derivatives engine for the chain. “The goal is to own more of the trading stack and the revenue that comes with it,” Katana CEO Matthew Fisher said, calling the acquisition the “first major step” of his tenure as he formalizes the strategy he has led since joining the project.
Fisher argued that as crypto trading migrates to always‑on venues, infrastructure that blends CEX‑like performance with onchain settlement will define winners. “We’re building for 24/7 markets where price discovery happens onchain, not during bank hours,” he said, pointing to U.S. regulators’ recent signals about a path for crypto perpetual futures as an inflection point for the sector. Under the new setup, IDEX’s order book and AMM architecture becomes the backbone for Katana Perps, which routes spot liquidity, perps, and order flow through a single interface rather than siloing derivatives as a separate product.
A full DeFi stack with native perps Katana’s broader DeFi stack now spans four pillars: Sushi for spot trading, Morpho for lending, Kensei for token launches, and Katana Perps for leveraged derivatives, all coordinated by the KAT and vKAT token model. Over time, vKAT holders will be able to direct incentives toward perps markets and earn a share of fees, folding derivatives revenue into the same flywheel that powers spot and lending on the chain. At launch, Katana Perps is supported by major market makers GSR, Selini Capital, and Auros, which Fisher said were drawn by IDEX’s “nearly a decade” of live infrastructure and the chain’s performance‑oriented design.
Founded in 2017, IDEX was “the first decentralized exchange to combine a high‑performance matching engine with onchain settlement” and, through 2019, “consistently ranked first by trading volume and transaction count among all DEX protocols,” Katana noted. Bringing that stack in‑house lets Katana offer a more CEX‑like experience — deep API support, higher throughput, and tighter spreads — while keeping custody and settlement onchain.
Onchain derivatives arms race The acquisition lands as perpetuals DEXes are seeing rising volumes and attracting more professional flow, with venues like Hyperliquid, dYdX, and GMX competing to lock in whales and market makers. Recent crypto.news coverage has highlighted how new onchain products — from Hyperliquid’s HIP‑4 proposal for outcome markets to high‑stakes perps traders posting multi‑million‑dollar PnL — are pulling structurally sticky liquidity into derivatives rails. In that context, Katana’s decision to acquire rather than simply integrate a third‑party DEX is a clear statement: the chain wants to control its own economic engines instead of renting them.
As Fisher put it, “Owning perps is not just owning a product, it’s owning the heartbeat of your chain,” a line that neatly captures where the DeFi race is headed.
Katana, a DeFi blockchain backed by Polygon Labs and GSR, has acquired IDEX and launched a perpetual futures trading platform, entering one of crypto's most competitive markets just as regulatory signals in the US suggest onchain derivatives may be moving closer to legitimacy.
The IDEX acquisition, announced Monday, gives Katana a matching engine and settlement infrastructure with nearly a decade of operating history. IDEX was founded in 2017 by brothers Alex and Philip Wearn and was, at its peak in 2019, the most actively traded decentralized exchange on Ethereum. The exchange raised $2.5 million in seed funding in 2020 to develop its second-generation platform, but has since faded from relevance as Uniswap and newer AMM-based competitors captured the DEX market. Financial terms of the acquisition were not disclosed.
The newly launched Katana Perps platform, seeded with liquidity from GSR, Selini Capital, and Auros, integrates spot trading and leveraged derivatives within a single onchain environment. Katana has also formally appointed Matthew Fisher, who has been running strategy for the project, as CEO.
Onchain perpetuals volume hit $739 billion in January 2026, with decentralized venues now accounting for 10.2% of total crypto perpetuals trading, up from just 2% two years ago, Katana said, citing a Coingecko report. Decentralized perpetual exchanges now process over $1.2 trillion in monthly trading volume, according to Coinbase Institutional's 2026 market outlook. US regulators are also signaling a potential path to permitting crypto perpetual futures domestically, which could substantially expand the addressable market.
The competitive challenge is formidable, however. Hyperliquid commands over 70% of open interest in decentralized perpetuals as of March 2026, operating on a custom Layer 1 blockchain purpose-built for high-speed, gas-free trading. Challengers including Aster and Lighter have collectively eroded Hyperliquid's volume share, but open interest, which is the more meaningful indicator of genuine capital deployment, remains heavily concentrated at the top. Katana enters a market where the infrastructure bar has been set by a platform processing hundreds of billions in monthly volume.
Katana's bet is that integration — combining spot liquidity, routing, and perpetuals in one place — gives it a structural advantage over platforms that handle derivatives in isolation. Whether that proves sufficient differentiation in a market already crowded with well-capitalized competitors remains the central question for the project.
Maelstrom CIO and BitMEX co-founder Arthur Hayes has rejected accusations that he is using his X influence to create exit liquidity for his own trades.
The allegations came from on-chain investigator ZachXBT, who accused Hayes of promoting cryptocurrencies such as Zcash, NEAR Protocol, and Hyperliquid before selling his holdings and leaving followers with losses.
How much exit liquidity was created from your followers over the past couple days?
First NEAR HYPE ZEC
Now WLD pic.twitter.com/vyDXwCHRwO
— ZachXBT (@zachxbt) June 6, 2026
Hayes Denies Claims In response, Hayes argued that he neither manages money for others nor provides financial advice. He stressed that he never instructs people to buy, sell, or hold any asset.
According to Hayes, his posts simply disclose his personal investment decisions. He emphasized that readers are free to agree or disagree with his views, conduct their own research, and make independent investment choices.
Furthermore, Hayes challenged critics to find any instance where he explicitly told followers what they should do with their money. Instead, he maintained that he merely shares what he is doing and leaves investment decisions entirely up to his audience.
Hayes also acknowledged that a large percentage of his market predictions—roughly 70% to 90%—turn out to be wrong. However, he argued that successful investing does not require a high win rate.
Instead, Hayes explained that he generates profits by allocating larger amounts of capital to ideas in which he has the highest conviction while limiting exposure to lower-confidence trades. As a result, his winning positions can outweigh losses from incorrect calls.
Crypto Enthusiasts React Meanwhile, Hayes is known for publicly disclosing his trades on X, where he has amassed more than 802,000 followers. He has frequently shared his positions in tokens such as ZEC, HYPE, NEAR, and WLD.
Notably, Hayes often updates followers when he exits positions after losing confidence in a project. Critics, including ZachXBT, argue that this pattern of publicly promoting tokens and later selling them effectively turns followers into exit liquidity. Hayes, however, maintains that he is simply documenting his investment activity rather than encouraging others to copy his trades.
Given his influence in the crypto market, some interpret his remarks as indirect signals that may guide investor behavior.
Hayes Returns to Ethereum Meanwhile, Hayes appears to be rebuilding his exposure to Ethereum after previously dumping his entire holdings. Last year, he sold nearly 1,900 ETH to rotate capital into decentralized finance (DeFi) tokens.
However, recent on-chain data shows that Hayes has resumed accumulating Ethereum. He purchased 1,400 ETH yesterday, bringing the wallet’s holdings to 4,400 ETH, valued at about $7.78 million. This move suggests renewed confidence in Ethereum despite his earlier shift toward alternative crypto investments.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Bankless co-founder David Hoffman has disclosed how he redeployed capital after selling ETH, revealing a new portfolio tilted toward VVV, NEAR, ZEC, HYPE and LIT. The move marks a notable shift for one of Ethereum’s most recognizable public advocates and has triggered debate over whether Hoffman is rotating into a new long-term thesis or chasing a different segment of the market.
In a post on X, Hoffman said he “immediately took ~50% of the capital to VVV, NEAR, ZEC, HYPE” after selling ETH. The other half, he said, was held back for dollar-cost averaging into an asset that had not already moved sharply higher.
“I left the rest as capital to DCA into something not already up multiples,” Hoffman wrote, adding that NEAR was an exception because it was “~1.40 at the time.” He then said he had completed that second leg of the rotation: “I’ve finished buying LIT with that remaining 50%.”
Why Hoffman Chose LIT As Next Major Crypto Bet The disclosure quickly shifted into a broader discussion about Hoffman’s investment thesis around LIT and Lighter, particularly after Multicoin Capital’s Kyle Samani asked why a user would choose Lighter over Robinhood. Hoffman framed the answer around product specialization, market structure and auditability rather than simply token speculation.
“The easy answer is that Robinhood is an everything platform, and Lighter is highly optimized for perps specifically,” Hoffman wrote. “Lighter has more assets, including more pre-IPO markets. Lighter doesn’t require KYC sign up, and Robinhood Perps are for only a closed group of users in the EU.”
He acknowledged one important constraint: “By contrast, Lighter is VPN blocked in the US.” But Hoffman argued that the deeper distinction is transparency. He pointed to zkLighter, Lighter’s zero-knowledge system, which he said allows end users to verify the exchange’s rule enforcement without permission.
“zkLighter is fully auditable by end users, so anyone can permissionlessly verify the exchange is following its own rules,” he wrote. “Order matching, funding, risk checks, liquidations etc are defined in zk circuits, so Ethereum verifies that they followed Lighter’s rules before accepting state updates. Bullish crypto ethos!”
For Hoffman, the auditability claim is not merely technical branding. He argued that it goes directly to trader and market-maker trust, because participants can verify that “there is no privileged party trading against users,” invoking the FTX and Alameda collapse as the relevant failure mode.
Hoffman also emphasized latency and execution cost. He claimed Lighter has “the best latency of any perp exchange” and “the best fee structure,” while pointing to third-party comparisons against Hyperliquid. On Robinhood, however, he was more cautious, saying he could not judge Robinhood perps directly because he cannot access them and would not be able to audit them in the same way.
“Maybe Robinhood, when it eventually rolls out perps, also has a 0-fee structure too,” he wrote. “But that means a tie between RH and Lighter, not a RH win.”
The debate also exposed pushback from parts of the Ethereum community. One user accused Hoffman of going “from eth maxi to the other extreme,” while another suggested he had become more of a short-term trader. Hoffman rejected both characterizations.
“The technology under all of these assets is pretty interesting too,” he replied to one critic. To another who joked about him having an investment thesis and sticking to it, Hoffman responded: “My last investment thesis I had for eight years. God forbid I get a new one!”
Asked directly about LIT versus HYPE, Hoffman said he views the position as both “beta and alpha” to HYPE. His reasoning centered on relative buybacks, product quality and regulatory positioning, citing “LIT buybacks” as moving at “2x the relative speed of HYPE Buybacks,” alongside what he described as a technically superior product, better fees, stronger latency and US domicile.
At press time LIT traded at $1.50.
LIT bulls must break the 0.786 Fib, 1-week chart | Source: LITUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
A major trader on Hyperliquid risks losing a giant XRP position worth more than $30 million in one fell swoop. According to data from the analytics platform Onchain Lens, the address "0xf79C...9BbD" opened a long position of 27.9 million XRP using 20x leverage, while the total value of the open notional position is estimated at $30.9 million.
However, because of the high leverage, the liquidation price is set at $0.92.
At the moment, the trade is already bringing the investor major losses. The current price of the asset has dropped to around $1.10, causing the floating unrealized loss on XRP to exceed -$672,000.
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Account "0xf79C...9BbD" overview on Hyperliquid, Source: HyperbotThe situation is worsened by the fact that the trader is also holding another large position — a long Bitcoin position of 809.9 BTC, worth $50.6 million, also with 20x leverage. At the moment, the total weekly loss across the entire portfolio stands at -$3,400,520, while the available free margin on the account has been completely depleted.
This leaves the trader without the ability to defend the positions unless new funds are deposited.
Calculation for a July reversalDespite the critical situation, the investor's actions may have a clear statistical basis. According to historical price data from CryptoRank, XRP is currently showing a decline of -17.3%, making this June one of the worst in the coin's history.
However, historical statistics show that July has almost always sided with buyers. Over the past 13 years, XRP's average July return has stood at a steady +10.2%, while the median return is +10.8%.
Moreover, exactly one year ago, in July 2025, the asset posted a powerful gain of +35%.
XRP price action over the year since July 2025, Source: TradingViewApparently, the whale consciously took an extreme risk at the end of June, betting on surviving the local storm and catching the traditional July market reversal. If this plan works and the market recovers by at least the standard historical July median, the current million-dollar losses could turn into a colossal profit.
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If the median growth of +10.8% materializes, the XRP price would rise from the current $1.10 to around $1.22, potentially bringing the whale a net profit of around $3.32 million.
This amount would not only fully cover the current paper loss of -$672,000, but also more than double the trader's initial collateral, or margin, adding about $2.65 million in net profit on top.
However, the trader has critically little time left for this triumphant plan to play out. Should the market decline continue in the coming days and XRP reach the $0.92 mark before the start of the next month, the paper position worth more than $30 million will be fully liquidated by the platform, wiping out all deposited margin before the position ever gets the chance to benefit from the historically favorable period.
Hyperliquid has overtaken Solana on a fully diluted valuation basis, according to Arkham, adding a new market marker to one of crypto’s most closely watched comparisons: the rise of application-heavy, revenue-generating chains.
Arkham summarized the move directly on X, writing: “Hyperliquid has flipped Solana by FDV.” The accompanying Solana market page shows SOL trading around $86.51, with a fully diluted valuation of roughly $54.22 billion, a circulating market capitalization near $49.99 billion and 24-hour volume of about $2.74 billion. The same screen listed Solana’s current supply at 577.86 million SOL and max supply at 626.75 million SOL.
On Arkham’s Hyperliquid page, HYPE was shown trading at $56.71, giving the network a fully diluted valuation of about $54.57 billion. That puts it slightly above the Solana FDV shown in Arkham’s Solana screenshot, at roughly $54.22 billion. The comparison is notable because Hyperliquid’s circulating market capitalization was much smaller, at about $13.28 billion, reflecting a current supply of 238.39 million HYPE against a max supply of 962.27 million. Arkham also showed 24-hour HYPE volume of roughly $1.20 billion, with the token trading near its listed all-time high of $59.30.
Hyperliquid has flipped Solana by FDV. pic.twitter.com/rDF5FRg4TK
— Arkham (@arkham) May 21, 2026
Hyperliquid And Solana Lead All ‘Revenue Chains’ The FDV flip comes as Hyperliquid has also been showing up at the top of crypto revenue rankings. In post on X, Bitwise CEO Hunter Horsley lists Hyperliquid with $790.55 million in total revenue, ahead of Solana at $532.34 million. TRON followed at $471.20 million, while Ethereum was shown at $425.56 million.
Horsley framed the comparison less as a zero-sum fight between HYPE and SOL and more as evidence of a broader category emerging inside crypto.
“There’s a new class in crypto: the revenue chains,” Horsley wrote. “The leaders are Hyperliquid & Solana. Both do some overlapping things, and some different things. Both have exceptional communities, usage, use cases, etc.”
That framing matters because the Hyperliquid-Solana comparison is not purely about market capitalization. It is also about where users, liquidity and trading activity are concentrating. Hyperliquid’s revenue profile has become central to the HYPE thesis, while Solana remains one of the largest high-throughput ecosystems in crypto, with broad activity across trading, DeFi, consumer applications and token issuance.
Horsley argued that both networks are positioned around the same structural tailwind: capital markets moving onchain. “I think that both will rise together, just as iOS and Android both rode the structural adoption of mobile,” he wrote. “In the case of the revenue chains, they are riding the wave of capital markets coming onchain.”
Solana Camp Downplays Rivalry Solana co-founder Anatoly Yakovenko also pushed back against the idea that Hyperliquid’s rise should be treated as a threat to Solana’s roadmap. Responding to a post about Hyperliquid, Yakovenko wrote: “I am not worried about someone else succeeding. Whether hype succeeds or not isn’t going to change what I or the rest of the Solana ecosystem will be working on.”
Yakovenko once again presented Solana-based Phoenix Trade as a better version of Hyperliquid: “Try Phoenix Trade my HL brother.”
Meanwhile, Horsley highlighted the success of both. “If you are rooting for HYPE or SOL or both, success will be less about the competition between the two — healthy ofc — but rather the rise of onchain capital markets,” he wrote. “Root for capital markets coming onchain.”
At press time, HYPE traded at $58.354.
HYPE approaches it September 2025-high, 1-week chart | Source: HYPEUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com
