Suspected Sonic Labs-Related Address Transfers 11.78 Million S Tokens to Binance, Valued at Approximately $5.55 Million

According to Hyperinsight’s monitoring, the "Big Three" storage tokens have rebounded in sync with US stock indices today, but funding rates for SKHX, SNDK, MU, S&P 500, and XYZ100 have all turned negative. Converted based on current hourly rates, the 8-hour funding rates for SKHX, SNDK, and MU stand at -0.2544%, -0.0242%, and -0.0032% respectively; for S&P 500 and XYZ100, they are -0.0139% and -0.0075% respectively. In terms of position structure, the total nominal open interest (OI) of the Big Three storage tokens fell from $1.022 billion to $853 million, a decrease of roughly $170 million, or 16.6%. SKHX alone shrank by 29.5%; by contract count, SKHX, SNDK, and MU’s open interest dropped by 39.3%, 5.3%, and 4.2% respectively. In contrast, the total nominal positions of S&P 500 and XYZ100 rose from $752 million to $781 million, up 3.9%; their contract counts increased by approximately 1.0% and 6.6% respectively. With indices rising, positions expanding, and funding rates turning negative, new short positioning has become more pronounced. SKHX continues deleveraging: 43 multi-million-dollar long positions on SKHX cut their holdings by around $175 million, with 34 addresses liquidating their entire positions; net long reduction stood at roughly $117 million. Across the five assets, multi-million-dollar addresses recorded a net long reduction of approximately $161 million and a net short reduction of $271 million over the past 24 hours.

Tokyo-listed Quantum Solutions sold 1,000 Ethereum for $1.9 million and more than doubled its disposal cap to raise funds for its AI data center operations. Meanwhile, another crypto financial firm, Hyperscale Data, sold roughly 100 Bitcoin and established a Bitcoin-backed line of credit to support its AI data center project in Michigan.

According to Bitget market data, the USD/JPY currency pair has halted its downward trend. Earlier, it plunged sharply in the short term to a low of 158.53, with a total drop of over 150 pips. It has now rebounded to 159.43, erasing its intraday losses, and is currently up approximately 0.04% on the day.

Hyperliquid HIP-3 has completed the auction for the Naver transaction code, with the final transaction totaling 516.99 HYPE. The Naver in question refers to South Korea’s largest internet tech company, often dubbed “South Korea’s Google,” which boasts a strong local ecosystem advantage in the country, with highly integrated services spanning search, shopping, payments, and content.

Per Onchain Lens monitoring, a Bitcoin whale sent 500 BTC to a newly created wallet, and roughly 23 minutes later, transferred all 500 BTC to Binance.

According to Bitget market data, the Japanese yen is suspected of facing a second round of intervention, leading to its strengthening. The USD/JPY pair has plunged roughly 150 pips, EUR/JPY around 130 pips, GBP/JPY around 200 pips, and CAD/JPY and AUD/JPY around 100 pips.