A synthetic perpetual contract tracking SpaceX's valuation on Hyperliquid plunged 45% within 30 minutes, causing liquidations of 405 traders across 1,393 positions and wiping out $1.51 million in notional exposure. This derivative is a speculative instrument with no actual equity in SpaceX, relying on estimated private valuations and suffering from extremely shallow liquidity. The crash was triggered by a single large sell order that overwhelmed the thin market depth, highlighting risks in illiquid, speculative markets tied to private companies. Despite the drop, the contract's price remained above its reference valuation, showing ongoing market inefficiency and the dangers for retail investors in such products.
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Veea Inc. has announced the commercial release of VeeaONE, a full-stack AI infrastructure platform that integrates edge-to-cloud hardware and software. The platform supports VeeaWare middleware on NVIDIA Jetson and x86/Arm servers, enabling secure, l...
Virtuals Protocol has introduced customizable tokenized indexes on the Robinhood Chain, allowing users to combine multiple assets into a single token. This innovation enables users to create and manage their own asset baskets and earn fees when other...
US spot Bitcoin ETFs saw net inflows of $107.8 million on Wednesday, while Ethereum ETFs attracted $53.8 million, signaling renewed institutional interest in crypto funds. Since their launch in January 2024, Bitcoin ETFs have accumulated over $51 bil...
Kaia has signed a strategic partnership with Xilo Labs to integrate Mochi, an onchain asset management platform, into Kaia's ecosystem. This collaboration allows users to invest stablecoins into diversified portfolios backed by tokenized real-world a...
