According to Onchain Lens monitoring, a newly created wallet address deposited 630,000 USDC into HyperLiquid and simultaneously opened a 10x leveraged short position on 2.9 million XRP. This large-scale shorting action may exert short-term downward pressure on XRP price, with market participants closely watching subsequent movements.
AscendEX (formerly Bitmax) has been reported to experience massive withdrawal anomalies, with user withdrawals stuck in "Initiating" status without on-chain hashes, suggesting potential liquidity depletion. The platform suffered a $78 million hack by Lazarus group in 2021 and has long lacked proof of reserves and third-party audits. This incident highlights the existential challenges faced by small and mid-sized crypto exchanges under tightening regulation and market concentration.
According to Onchain Lens monitoring, a newly created wallet address deposited 630,000 USDC into the decentralized derivatives platform HyperLiquid and subsequently opened a 10x leveraged short position worth approximately 2.9 million XRP, signaling a bearish bet on XRP's near-term price.
According to Onchain Lens, an address associated with Vitalik Buterin has transferred 7,000 ETH (worth approximately $11.06 million) to a new wallet after a year of dormancy. The move may precede a deposit to a centralized exchange. Previously, the same address had moved 1,300 ETH to Paxos.
According to on-chain monitoring firm OnchainLens, an address linked to Ethereum co-founder Vitalik Buterin, after a year of dormancy, transferred 7,000 ETH (worth approximately $11.06 million) to a newly generated wallet. The funds are likely to be deposited into a centralized exchange, mirroring a previous move where 1,300 ETH ($3.19M) from the same address was sent to Paxos. This large transfer has sparked market concerns about potential selling pressure.
On-chain analyst Yujin has detected that whale Garrett Jin placed a short order for 52,000 ZEC (approx. $21.73M) at $418.9 on Hyperliquid 30 minutes ago. $4.93M has been filled, with $16.8M pending. If fully executed, he will be Hyperliquid's largest ZEC holder. At the same time, his long position of 1,270 BTC (entry $76,117) has a floating loss of $20.15M, implying a current BTC price of ~$60,251, a ~20.8% drop from entry. The combined positions expose significant directional risk.
AscendEX (formerly Bitmax) recently experienced large-scale withdrawal anomalies, with user funds stuck in 'Initiating' status and no on-chain hash, suggesting a potential liquidity crisis. The platform suffered a $78 million loss from a Lazarus hacker attack in 2021 and has long lacked proof of reserves and third-party audits, resulting in low transparency. This incident highlights the survival challenges faced by small and medium crypto exchanges amid tightening regulations and industry consolidation, raising concerns about asset security and exchange credibility.
As Bitcoin prices continue to decline and retail investors panic-sell, Wall Street institutions are strategically acquiring and developing crypto financial infrastructure. Key moves include Invesco filing for a tokenized fund, Kraken in talks to acquire Aave, Circle partnering with Nomura for stablecoin cross-border settlement, and SBI acquiring Bitbank to build a full-stack financial group. These actions are driven by regulatory and technological timing rather than price fluctuations, signaling a systemic shift in ownership of crypto infrastructure from native users to traditional financial institutions.
