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ADA market cap exceeds $26.5B, showing growing trader confidence despite SEC delays
ADA open interest dominated by top exchanges ADA market cap exceeds $26.5 billion
The latest Coinglass data for the Cardano (ADA) futures market shows that ADA's price has been stable around $0.78. However, there have been notable changes in its open interest across cryptocurrency exchanges.
As of May 21, 2025, the total open interest is above $920 million. Before the latest rise, the Coinglass chart shows a gradual drop in ADA open interest since May 16. According to the chart, there has also been varied distribution of ADA open interest across exchanges.
ADA open interest dominated by top exchanges
Bitget and Binance dominate with $196.06 million and $192.16 million, respectively. The combination of these two is responsible for more than 40% of the total ADA futures positions.
Bybit follows with $139.17 million, while Gate.io ranks fourth with $125.37 million in open interest. Exchanges such as Kraken, dYdX, and BitMEX account for smaller ADA open interest compared with the top platforms, with none of them exceeding $5.2 million.
This shows that there's a high concentration of ADA trading activity on the top trading platforms. Hence, any major changes on these dominant exchanges could trigger broader market reactions.
Since ADA's price has been relatively stable over the past five days while the open interest has varied, there haven't been any dramatic shifts in the overall market sentiment toward ADA.
A sign of growing confidence among traders would be the continued rise in open interest, while the reverse would suggest reduced speculative interest or profit-taking.
ADA market cap exceeds $26.5 billion

Cardano's ADA token is currently trading at $0.752 following a 3.01% increase in the last 24 hours, according to CoinMarketCap data. Following this positive movement, Cardano's market cap is now at $26.58 billion.
With $1.05 billion worth of ADA changing hands in the last day, the trading volume represents a 57.09% increase in activity. The 24-hour price chart displays a recovery from lows of around $0.7377 to a peak of $0.78 before dropping to current levels.
Based on the daily timeframe, the token's price action shows major volatility, but it’s still within an overall upward direction. Also, the platform's profile score of 75% could be contributing to investor confidence in the project's fundamentals.

Interest in Cardano continues to rise despite a delay by the U.S. SEC in approving a spot ADA ETF and other spot crypto ETFs apart from ETH and BTC ETFs. As reported by U.Today, Bloomberg analyst James Seyffart's prediction was accurate, as the U.S. SEC announced a delay in approving XRP ETPs and other crypto ETFs.

Ethereum is gaining momentum again after tagging the $2,739 level and setting a new local high, reaching prices not seen since late February. The rally marks a strong comeback for ETH, which has been under significant pressure earlier this year. Now, bulls appear firmly in control as the broader crypto market wakes up and capital flows return to altcoins.
Analysts are calling for a potential altseason, fueled by Ethereum’s relative strength against Bitcoin and growing investor confidence. As Bitcoin consolidates near all-time highs, Ethereum has taken the opportunity to outperform, pushing up through key resistance levels with conviction.
Supporting this narrative, data from Sentora (formerly IntoTheBlock) reveals that $1.2 billion worth of ETH has been withdrawn from centralized exchanges over the past seven days. This sustained trend of net outflows suggests continued accumulation and reduced sell-side pressure, both strong signals for long-term bullish momentum.
With price action heating up and investor sentiment shifting, Ethereum could be preparing for a major breakout. If bulls maintain control, the $3,000–$3,100 region may be tested in the coming days as the next major resistance zone. All eyes are now on ETH as the altcoin market shows signs of life.
Ethereum Builds Momentum As Exchange Outflows Signal Accumulation
Ethereum is trading above critical levels as speculation of a sustained rally continues to grow. After weeks of sluggish movement, ETH has roared back to life, gaining over 50% in value since last week. This sharp move to the upside has reignited hopes for an altseason, with many analysts viewing Ethereum’s breakout as the potential trigger for broader altcoin market strength.
Ethereum is now holding firmly above the $2,600 mark, a level that had acted as strong resistance for months. This breakout, coupled with increasing momentum against Bitcoin, suggests bulls are regaining control. Traders are closely watching the next major resistance zone between $2,900 and $3,100, which could serve as a key test for Ethereum’s uptrend
Adding to the bullish case, data from Sentora reveals that $1.2 billion worth of ETH has been withdrawn from centralized exchanges over the past 7 days. This trend has intensified since early May, pointing to increased investor accumulation and reduced sell-side pressure. Large exchange outflows are often seen as a sign that holders intend to store ETH off-exchange, decreasing immediate supply and supporting upward price movement.

With market sentiment turning bullish and Ethereum leading the charge, all eyes are now on whether ETH can maintain its momentum and drive the altcoin market into a new growth phase. If accumulation trends persist and bulls hold key levels, Ethereum’s path toward $3,100 could open the door to a broader market rally.
Price Action Details: ETH Testing Key Levels
Ethereum’s weekly chart shows a powerful breakout after weeks of bearish pressure, with ETH now trading around $2,599.14. The recent surge pushed the price above both the 200-week EMA ($2,259.65) and the 200-week SMA ($2,451.55), two critical long-term trend indicators. Reclaiming these levels signals renewed bullish momentum and a strong shift in sentiment.

The breakout candle itself is one of the largest weekly green candles in over a year, reflecting a sharp influx of buyer interest and potentially marking a key reversal point after months of downside. Notably, this move brings ETH to levels not seen since February, with the local high for the week reaching $2,739.05.
Volume has increased significantly during this move, confirming the strength behind the rally. However, Ethereum now faces overhead resistance near $2,800–$2,900, a zone that previously acted as support during early 2024 before the breakdown. If bulls maintain momentum and close this week above $2,600, it could open the door for a test of the $3,100 resistance zone.
On the downside, the key support to watch is around $2,450, aligned with the 200-week SMA. A failure to hold that level could invite a retest of $2,250. For now, the trend is bullish, but follow-through next week will be crucial.

Dubai is partnering with the exchange Crypto to accept digital assets for government fees.
The emirate’s Department of Finance (DOF) signed the memorandum of understanding (MoU) with the crypto firm as part of its ongoing “cashless strategy.”
Dubai aims to conduct more than 90% of financial transactions across both the public and private sectors through cashless methods by next year.
When the agreement is finalized, individual and business customers of the emirate’s government entities will be able to pay service fees through Crypto.com’s digital wallets, per a new press release. Crypto.com will convert the crypto payments into Emirati dirhams and transfer them to DOF accounts.
Dubai has positioned itself as a crypto-friendly jurisdiction, with the emirate set to host Binance Blockchain Week in December.
Ahmad Ali Meftah, DOF’s executive director of the central accounts sector, says the Crypto partnership is part of the emirate’s efforts to evolve into a global hub for digital payments.
“We are actively developing an advanced regulatory framework that fosters innovation while ensuring the highest standards of security and efficiency in digital financial transactions. This enhances customer trust in Dubai Government services and unlocks new opportunities for economic growth. Through strategic partnerships, we remain dedicated to establishing a sustainable financial model that empowers individuals and businesses, cementing Dubai’s leadership in financial technology and keeping it at the forefront of global innovation and economic progress.”

The Bitcoin price continued to rise and rose above $100K for the first time and marked a high of $108.3K. Meanwhile, the BTC dominance continued to plunge from its highs around 61.5% to levels around 54.60%. This was when the Altseason was triggered, wherein most of the altcoins surged with a huge margin. Now that a similar trader setup is about to get validated, here are some altcoins that may go 10x from here
Ondo (ONDO)

The historical chart of ONDO price suggests the price is done with the correction that it began after reaching a new ATH above $2
The pullback had dragged the levels below the ascending trend line that it held since the beginning, but the latest rebound has pushed the price back into the pivotal resistance
On the other hand, the weekly Bollinger Bands have begun to squeeze, and if it repeats the previous pattern, the explosion could attract a 200% jump
Meanwhile, the weekly MACD is also displaying a drop in the selling pressure, and the levels are about to undergo a bullish crossover 
This suggests the ONDO price has begun with a strong recovery, and if it secures the range at $1.44, a new ATH at around $2.5 could be imminent.
Hedera (HBAR) 

The Hedera price seems to have begun with a parabolic recovery and hence is expected to trade along the curve to reach the neckline
The levels have risen above the Gaussian channel, and hence if it sustains above the range, then the channel may flip to bullish, which could validate the start of a fresh bullish trend
On the other hand, the CMF has risen above 0 for the first time since the start of the year, which appears to remain elevated
Therefore, the HBAR price is believed to reach the neckline at around $3.8 and may face a minor pullback, following which the bulls could push the price towards new highs
Sui (SUI) 

The SUI price is following an Elliott wave pattern, and after a bullish and corrective wave, the token has begun with yet another bullish wave
After forming wave 1 and wave 2, the price is in the middle of the third wave, and as the Bollinger bands are squeezing, there could also be a volatility squeeze
On the other hand, the RSI has reached the overbought range after a short pullback, suggesting the bulls are vigilant and positioned
Therefore, the SUI price is expected to follow the pattern and soon form new highs around $6 in a short while
Chainlink (LINK

The weekly chart of Chainlink price suggests the popular oracle remains under bullish influence as it rebounds from a crucial support
The price defended the ascending support that it held after it broke out from a prolonged horizontal consolidation in 2023
Despite a rebound, the price is facing some upward pressure at one of the resistance levels at $17.5, and a rise to $21.68 could be imminent.
Besides, the MACD is about to undergo a bullish crossover while the RSI is also rising, which hints towards the LINK price maintaining an ascending trend and reaching the upper resistance of the expanding channel close to $40
Solana (SOL)

The Solana price has entered the parallel channel, which has flashed a huge bullish signal for the crypto
Besides, the price has surged above the conversion line of the Ichimoku cloud, which has raised the possibility of an upcoming bullish action
As the MACD has experienced a bullish crossover, the possibility of a bullish crossover of the Ichimoku cloud could validate the start of a fresh upswing 
Therefore, the SOL price is expected to hover between $162 and $195 for a while and later surge above $200. If the price sustains above $200, then the price may reach the upper resistance at $280 and hunt for new highs. 

Binance’s stablecoin reserves have reached a record $31 billion, nearly five times the amount from mid-2023.Stablecoins like USDT and USDC are crucial for market stability, acting as a bridge and safeguard against volatility.Binance’s substantial reserves are expected to significantly influence market trends and bolster investor confidence in 2025.
Binance, one of the world’s leading cryptocurrency exchanges, has achieved a significant milestone by amassing $31 billion in stablecoin reserves. This impressive figure marks a nearly fivefold increase from the $7 billion recorded in mid-2023.
The surge in reserves underscores the growing liquidity and renewed confidence in the cryptocurrency market, with stablecoins like USDT and USDC playing a pivotal role in providing stability and facilitating seamless transactions during volatile market conditions.
THE ROLE OF STABLECOINS IN MARKET STABILITY
Stablecoins have become indispensable for traders, offering a low-risk asset to navigate unpredictable market dynamics. The correlation between stablecoin growth and Bitcoin’s resurgence is notable.
While Bitcoin and Ethereum balances on Binance have remained steady, stablecoin holdings have soared, emphasizing their function as a transaction bridge and safeguard against volatility. This growing reserve solidifies Binance’s reputation as a leading and reliable platform in the crypto space.
IMPACT ON MARKET TRENDS
As 2025 approaches, Binance’s stablecoin reserves are expected to influence market trends significantly. With approximately $29 billion in reserves currently held, the exchange is well-positioned to manage rising market demand. These reserves not only enhance transaction efficiency but also bolster investor confidence, ensuring stability even during times of rapid market change.
FUTURE OUTLOOK
The buildup of these reserves mirrors Bitcoin’s recovery since 2023, underscoring the role of liquidity in supporting price movements. Analysts predict that Binance’s substantial reserves will continue to play a crucial role in shaping cryptocurrency trends in the coming year.
With strong market participation and robust stablecoin reserves, Binance is poised to maintain its position as a trusted exchange, driving optimism and confidence in the cryptocurrency market.
Binance’s record-breaking stablecoin reserves highlight the exchange’s pivotal role in the cryptocurrency market. As stablecoins continue to provide liquidity and stability, Binance’s growing reserves are set to influence market trends and bolster investor confidence in the years to come.

An Ethereum update penciled in for February could change how everyday users interact with on-chain apps, developers say.

As we enter 2025, many questions hover over crypto—and not just those about prices and regulation. The underlying technology powering some of the industry’s most popular tools is also poised to change in the new year, and those shifts could have major implications for users.
For our annual Crypto Crystal Ball series, we're taking a hard look at the narratives likely to shape the coming year, and how they’re likely to impact you. 
Following a look at how much political capital Donald Trump may be willing to spend on the crypto industry’s top priorities, here’s how an upcoming tech upgrade to Ethereum could finally pave the way to crypto going mainstream at a consumer level.
For years, the crypto industry has prayed for the arrival of mass adoption. But time and again, on-chain products and experiences have failed to attract as many users as their Web2 rivals. 
A key update to Ethereum, penciled for February, could change that—by making on-chain apps much, much easier to use for everyday consumers.
David Silverman, senior vice president of strategic business initiatives at Ethereum scaling project Polygon, told Decrypt that during the 2021 crypto bull market, millions of people were interested in exploring on-chain apps—but the tech wasn’t ready. Come the looming 2025 bull cycle (knock on wood), Silverman says crypto products will finally be up to snuff. 
“This next cycle, if we do see a mass inflow of interest, we will be able to show a proper example of what we think the Web3 future is,” Silverman said, “as opposed to just glimmers of hope.”
Why? Developers say Ethereum’s upcoming Pectra upgrade will eliminate barriers that have previously made on-chain apps a headache. Goodbye gas fees and special wallets for navigating smart contracts; hello signing transactions with FaceID—and surfing some on-chain apps without having to sign any transactions at all. 
One key innovation in Pectra will grant smart wallet functionality to the types of basic wallets issued by mainstream companies like Coinbase and MetaMask. Come February, users of those wallets will be able to pay gas fees on Ethereum and all L2s with any crypto of their choosing, including stablecoins. They will also be able to sign for transactions with universal tools like Apple’s FaceID and TouchID.
Those effortless signing mechanisms will now also be capable of enabling “much more complicated on-chain interactions with a single click,” Mark Tyneway, the co-founder of Ethereum layer-2 network Optimism, told Decrypt. 
Take session keys, for example. Previously impossible, session keys will soon allow ordinary crypto users to navigate a site or app for hours while completing dozens of secure on-chain interactions—all without the user knowing what’s happening on the backend.
You could put the entire Instagram experience on-chain without it feeling like it,” Tyneway told Decrypt. “It's going to unlock a massive wave of innovation.”
Polygon’s Silverman says Pectra will soon allow many crypto app developers to create seamless experiences where gas fees are sponsored and transaction signings are abstracted away—leaving products that look and feel like leading Web2 apps, but offer distinctive Web3 perks. 
“Crypto UX is about to level up,” Silverman said. “This is the unlock.”
$ETH
#BinanceAlphaAlert #BTCBelow92K #SolvProtocolMegadrop #DEXVolumeRecord #BTCMiningPeak

The US has regained leadership in the cryptocurrency market thanks to the launch of an ETF and Trump's promises.
The United States has regained its leadership in the cryptocurrency market thanks to the launch of an ETF and Trump's promises. The United States has regained its prominence in the cryptocurrency sector after Asia claimed leadership of the sector for much of 2023.
The United States has regained leadership in the cryptocurrency market, reports Bloomberg. This came about thanks to Donald Trump's re-election as president, as well as growing demand for cryptocurrency derivatives and exchange-traded funds (ETFs).
The surge in activity in the digital currencies sector was prompted by the successful launch of a ETF on Bitcoin in the US in early 2024. In addition, Trump's victory, which promised to make America the 'cryptocurrency capital of the world', further fuelled enthusiasm in the US crypto market.
As a result, the US regained its relevance in the cryptocurrency sector, after Asia had dominated the industry for much of 2023. The region was a "big beneficiary" of the tough measures taken by the outgoing Joe Biden administration, which Trump intends to reverse, the publication writes.

According to journalists, several factors indicate that the activity of cryptocurrency market participants is now primarily concentrated in the United States. These include data on the time of day when cryptocurrency trading is most active, the trading volume of ETF shares, the interest in cryptocurrency futures in America, and the restoration of market depth.
The share of daily Bitcoin/dollar trading during the opening hours of US exchanges has grown from 40% in 2021 to around 53%. Analysts note that this shift in 'liquidity dominance' towards America has been caused by the growing participation of institutional investors.
The ETFs on Bitcoin in the US, launched in January of this year, recorded a combined daily trading volume of more than USD 500 billion, with net capital inflows of about USD 36 billion. The article's authors point out that the iShares Bitcoin Trust (IBIT) from BlackRock has become one of the most successful ETFs in history.
U.S. Approves ETFs on Bitcoin and Ethereum, Opening the Road to Other Cryptocurrency Funds
In 2024, ETFs on Bitcoin and Ethereum were approved in the United States. The industry expects ETFs on other cryptocurrencies to be launched under Trump's presidency. Applications have already been filed with the US Securities and Exchange Commission (SEC) for funds based on Solana, XRP, Litecoin, HBAR and blended ETFs.
Open interest (the number of open contracts) in Bitcoin and Ethereum futures on the Chicago Mercantile Exchange (CME) has reached a record this year. The CME now holds the No. 1 position for open interest in Bitcoin futures, while the market leader was previously the largest cryptocurrency exchange operating outside the United States, Binance.

The depth of the cryptocurrency market (the ability to execute relatively large trades without excessive impact on asset prices) has recovered to pre collapse of FTX and its affiliated hedge fund Alameda Research in 2022. The FTX collapse hit cryptocurrency liquidity hard, but the market was helped to recover by the launch of an ETF in the US and the optimism caused by Trump's victory, according to Bloomberg.
#news #blockchain #crypto
$BNB $XRP $ETH

Speculation rises over a potential presidential pardon for Sam Bankman-Fried after his $5.2 million donation to Biden's campaign and a lenient 25-year sentence.
Speculation is growing around Sam Bankman-Friedpotentially receiving a presidential pardon following his conviction for fraud and money laundering. The former FTX founder, sentenced to 25 years in prison, has become the center of heated debates due to his substantial political donations and the leniency of his sentence compared to the scale of his crimes.
In 2020, when FTX was at its peak, Bankman-Fried donated $5.2 million to pro-Biden super PACs, becoming the second-largest individual donor to the Democratic Party after Michael Bloomberg. Historical cases show parallels, such as Marc Rich, who was pardoned by Bill Clinton after his ex-wife made significant donations to the Democratic National Committee, and Paul Pogue, who received clemency from Donald Trump following large campaign contributions from his family.
The debate intensified after Elon Musk suggested on social media that a pardon for Bankman-Fried is a tangible possibility. Prediction platform Kalshi even estimates a 12% chance of Biden granting clemency. This comes after President Biden recently pardoned Michael Conahan, who was implicated in the notorious “kids-for-cash” scandal. These decisions have raised concerns about whether political donations are influencing high-profile pardons.
Another layer of controversy stems from the campaign finance violation charges against Bankman-Fried, which were dropped due to his extradition agreement with the Bahamas. Originally, he faced multiple charges, including conspiracy to violate campaign finance laws. However, these charges were excluded because the Bahamian government did not consent to their inclusion in the extradition process. Although prosecutors initially planned a separate trial for these charges, they later decided not to proceed, stating the evidence would duplicate that of the first trial.
Bankman-Fried's sentencing to 25 years for orchestrating one of the largest financial frauds in history is seen by many as surprisingly lenient. FTX’scollapse resulted in over $16 billion in customer and creditor losses and wiped out more than $100 billion from the crypto market. Prosecutors had initially sought a 50-year sentence, highlighting the enormous financial damage and the erosion of public trust in the cryptocurrency industry. Meanwhile, key figures in the scandal, such as Caroline Ellison and Gary Wang, received significantly lighter consequences due to their cooperation with authorities.

Critics argue that Bankman-Fried’s political donations and connections might pave the way for preferential treatment. Prominent lawyer Richard W. Painter warned that any president granting clemency under such circumstances should face impeachment. The ethical dilemma surrounding presidential pardons is not new, but Bankman-Fried’s case brings it sharply into focus, particularly given the sheer scale of his financial misconduct.
Despite these discussions, it’s important to note that a presidential pardon is far from guaranteed. While past cases suggest a pattern of influential donors receiving clemency, proving a direct link between donations and pardons remains difficult. Presidents often justify such decisions on various grounds, and motivations can be complex and opaque.
The crypto community remains divided. Some believe Bankman-Fried’s political influence could secure his early release, while others argue that the public scrutiny surrounding his case makes a pardon highly unlikely. Regardless of the outcome, the debate highlights ongoing concerns about the intersection of wealth, political power, and justice in high-profile financial crime cases.
Bankman-Fried's case serves as a stark reminder of the ethical challenges surrounding presidential clemency. As his prison term begins, all eyes remain on the Biden administration and the potential political and public fallout of any decision to grant or deny a pardon.
#FTX #SBF #GMTBurnVote #BitwiseBitcoinETF #BTCXmasOrDip?

$PENGU
The broader Solana meme coin market surged to $18.2 billion, representing a 10.3% increase over the last day, driven by PENGU’s performance.
The newly launched Pudgy Penguins cryptocurrency Pengu (PENGU) has flipped Bonk (BONK) to claim the crown as the largest meme coin in the Solana ecosystem, with a market cap of $2.65 billion.
The shift is the culmination of a rally that kicked off on Christmas Eve when the token gained over 30% in 24 hours.
PENGU Rises
Data from the crypto price tracking website CoinGecko shows that the broader Solana meme coin market has experienced explosive growth, with its total valuation rising to $18.2 billion, a 10.3% increase over the last day.
Anchoring this performance was PENGU, which posted an 11.2% jump in the past 24 hours and a remarkable 22.3% rise in the last seven days.
The meme coin, airdropped to members of the globally successful Pudgy Penguins NFT community on December 17, has not been without controversy. Soon after the token’s launch, the floor prices of the NFT collection plunged by more than 50%, wiping out any gains made since early November.
According to analysts, this was largely because the value of the collection was partly pegged on exclusive access to the brand, with the introduction of PENGU making investment in the NFTs more accessible, therefore diluting their worth.
On its rollout, the coin shot to a record high of $0.0684 before dropping to a record low of $0.0114. It then see-sawed for the next few days, moving between $0.038 on December 18 to $0.0231 on December 20. However, since December 23, it has been making steady gains, going as high as $0.0417 on Boxing Day, a price that pushed its market cap to $2.62 billion.
BONK Falls
Conversely, the previous king of the Solana meme coins, BONK, showed more modest improvements in its price over the last seven days, going up 6.9% in that period. Further, across two weeks, it lost 17% of its value, with CoinGecko data showing another 23% plunge over 30 days, putting its market cap at just over $2.5 billion and allowing PENGU to surpass it.
The competition doesn’t end there. Other meme tokens like dogwifhat (WIF) and Fartcoin (FARTCOIN) are vying for investor attention. On Christmas Eve, the former reached an all-time high of $1.02, pushing its overall worth beyond the $1 billion mark.
However, despite Fartcoin being among the top gainers across seven days with a price increase of 13.1%, it has plummeted 15% since December 25. With a unit currently changing hands at about $$0.986, its $1.072 billion market cap is still some ways behind WIF’s $1.9 billion.
#Bonk #memecoin🚀🚀🚀 #Pudgy #Penguins #solana

Chainlink’s (LINK) recent price action on the weekly chart suggested a potential setup for surpassing its all-time high (ATH) of $52 by the first quarter of 2025.
Currently trading at $23.95, LINK’sprice significantly bounced from the multi-year trend line, indicating strong buyer interest.
This key trend line historically served as a pivotal point for price reversals. The price movement illustrated robust momentum.
There was a sharp rise following a prolonged consolidation around the $8 to $12 range. The recent break above the multi-year trend line displayed the same.
The price action chart displayed several resistance levels that Chainlink breached, contributing to the bullish outlook.

The ascending price was also supported by increasing volume, signaling growing investor confidence.
If Chainlink continues along this trajectory, the next major resistance lies at $52, the ATH marked as ‘Target 1’.
A sustained upward movement could lead to breaking this level, setting new highs. The current levels were viewed as strategic entry points, anticipating future gains as suggested by the setup.
This analysis combined past price behaviors with current market trends, points towards a bullish future for LINK.
However, it is contingent on its momentum maintaining and breaking past crucial resistance levels.
Whale accumulating LINK
The recent activity involving the whale’s transactions on Binance was significant to LINK’s future price movements.
A withdrawal of 55,199 LINK tokens, amounting to approximately $1.33 Million, was the largest during the recent price correction.
In the last three days, this whale cumulatively moved 105,720 LINK. This totaled around $2.49 Million at an average price of $23.57 each.
These moves typically indicated anticipation of market movements. These large-scale transfers could be strategic.
They suggest that whales were positioning themselves for a potential rise in LINK’s price, possibly expecting it to approach or surpass its ATH of $52.

Whales accumulating at these levels could be seen as a bullish signal for Chainlink, hinting at a strong support base at the current price levels.
This type of behavior often sparks discussions among investors about the potential for upcoming price fluctuations.
These movements provided insights into sentiment and whale strategies, which in turn can help with predicting future price actions in the market.
Chainlink Leads in DeFi
Chainlink led the Decentralized Finance (DeFi) market by market capitalization at $15 Billion. It was followed by Hypeliquid (HYPE) at $9.3 Billion, showing Chainlink’s dominance in the DeFi sector.
Uniswap (UNI) and Aave (AAVE) trailing with $8.2 Billion and $5.5 Billion in market cap respectively, highlighting Chainlink’s significant lead.
Ethereum and Thorchain, though smaller in market cap, also formed key parts of the DeFi landscape, each reflecting different facets of DeFi utility, including token swapping and cross-chain solutions.
Chainlink’s position was solidified by not only its market cap but also a 30-day price change of 7.37%, indicating strong recent growth and investor confidence.

$60Mn worth of USDC has been withdrawn from the HyperLiquid trading platform as wallet addresses linked to North Korean hackers have allegedly begun trading on the platformExperts believe these trades, which have accumulated a $700,000 loss are tests for weaknesses.
As of writing, about $60Mn in USDC has been withdrawn from the HyperLiquid perpetual trading platform on fears that activities from wallets linked with North Korea may precede an attack.
Wallet addresses linked to North Korean hacking groups began executing trades on the Perp trading platform over the weekend.
An X user familiar with cybersecurity and the activities of DPRK (Democratic People’s Republic of Korea) hacker groups, called Tay, noted that “DPRK doesn’t trade. DPRK tests” suggesting that these trades (though losses) were made so the hackers could familiarise themselves with HyperLiquid’s platform.

HyperLiquid’s vulnerabilities
According to Tay, the HyperLiquid Layer-1, a blockchain that powers the exchange and an EVM layer, currently has only 4 validators which could be accessed with one line of code, provided hackers get their hands on “0 days”.

A 0-day (zero-day) is a software vulnerability that its developers or publishers are unaware of and have zero days to fix. Tay says that DPRK hacker groups are highly sophisticated and consistently get their hands on 0 days.
HyperLiquid’s rise
HyperLiquid is currently the largest on-chain perpetual trading platform with roughly 271,000 users, a total deposit volume of $12.14Bn, and a daily trading volume of $6.20Bn.
The platform launched its native token, HYPE, on Nov. 29 which has risen from a listing price of $1.97 to a current price of $27.97 as of publishing.
HYPE is now the 22nd largest cryptocurrency with a market capitalisation of $9.35Bn as of publishing.
#Markets #FinancialTechnology