Cryptonews

In the great melodrama of cryptocurrencies, where tokens flounder like a fish out of water during market tumult, Hyperliquid carves a niche of defiance. When the price takes a nosedive, and trading activity reaches a crescendo, fees coalesce and dive right into buybacks. How splendidly ironic, as our friend DeFi Warhol eloquently noted, that HYPE found itself buoyed amidst the wreckage of the market in that calamitous month of April! 🎨💸

Back in the good ol’ days of January 15, 2011, this whale last made a transaction. Since then, Bitcoin has gone from a mere $0.393 to a staggering $118,561. That’s a gain of 30,168,093%—enough to make even the most stoic of investors do a jig. 🎉 The whale, bless its heart, accumulated this treasure over two days starting January 13, 2011. Talk about timing! ⏰

Leading this merry caravan, Fidelity, like a greedy magpie, dutifully hoarded over $100 million into its FBTC treasure chest. The ever-ambitious VanEck and the formidable BlackRock, ever the respectable bullies in the playground, followed suit, while Grayscale and Bitwise—those industrious little beavers—squeezed their share of the action too.

These so-called “sleeping bitcoins” slumber quietly in wallets, untouched for years—nay, decades! Such wallets, from a time when kings and commoners alike were baffled by the mere concept of blockchain, are scrutinized like a hawk watching its prey. What is it that stirs the heart of these long-dormant coins? Could it be a routine access recovery, or perhaps a delightful repositioning from some faceless institution? 🤔

In total, over 410.75 trillion SHIB have been burned from the original supply. However, the meme coin’s circulating supply remains high at around 584.5 trillion, keeping inflation pressures present. 📉📉

Ah, what a glorious third-place finish in the liquidation derby on Binance this year—XRP’s longs got wiped out with all the finesse of a clown tripping over his own feet! 😂

Bloomberg, that paragon of journalistic integrity, reports BitMine’s 566,776 ETH hoard (valued at $3,643.75 apiece). A staggering testament to faith—or madness. Tom Lee, BitMine’s managing partner, proclaims this a “long-term vision,” as if Ethereum’s future is a divine decree. The company, he claims, is hurtling toward ownership of 5% of ETH’s supply. A quest worthy of a tragic hero… or a fool. 😅

Ethereum’s [ETH] sharp breakout above $3,700 resulted in over $160 million in short liquidations on Binance. 📉 A most lamentable affair for those who dared to bet against the tide!

Yet, beneath this apparent chaos, the on-chain metrics whisper secrets of a possible reprieve. Exchange reserves, once swollen with tokens, now shrink like a miser’s heart at a feast. Whales, those modern-day tsars of the crypto seas, have been quietly amassing their treasures. And the ancient tokens, long dormant, now stir less—perhaps contemplating retirement or a quiet sip of tea. ☕🐋

According to Shady El Damaty, CEO of Holonym and expert in zero-knowledge cryptography, the World Network’s centralized infrastructure makes it particularly vulnerable to data leaks and exploitation. Given the project’s global reach, the consequences of such breaches can prove catastrophic. Because nothing says “trust us” like turning your eyeballs into crypto! 💸