A wallet on Hyperliquid has opened a $100.33 million short position on Ethereum (ETH) with 23x leverage, betting that ETH's price will not rise above $2,149.84. The position will be liquidated if ETH's price increases by less than 2% from the entry price of around $2,109. This high-risk trade highlights growing large-scale leveraged activity on Hyperliquid, which has processed over $176 billion in trading volume in 30 days and attracted institutional players due to its onchain settlement removing counterparty risk. If liquidated, the large ETH position will flood the market with 47,604 ETH, potentially impacting supply and price dynamics.
Solana is set to upgrade its network to reduce block time from 400ms to 350ms, enhancing transaction speed and throughput. Alongside this, a major tokenomics proposal could increase daily SOL token burns significantly, potentially lowering net token ...
Bitcoin's price fell marginally by 0.26% to around $64,800, while Ethereum edged up 0.09% to about $1,917, reflecting a cautious market mood. Crypto derivatives volume plunged over 51%, signaling reduced leverage and fewer short-term bets, while stab...
Spot Bitcoin ETFs experienced inflows totaling $853.54 million in the past week, marking the best weekly performance since April. BlackRock's IBIT led with $693.5 million, followed by Fidelity's FBTC with $116.5 million. Despite a recent hack causing...
An Ethereum whale from the 2015 ICO era has moved 3,510 MKR tokens, worth about $4.41 million, to a new address after seven years of inactivity. This whale originally acquired over 7,000 MKR tokens between 2018 and 2019 at an average price of $828.92...
The US Senate has postponed the floor vote on the CLARITY Act until September due to concerns about stablecoin impacts on banks and ethics provisions demanded by Democrats. The delay reflects ongoing debates over government officials' financial inter...
