Analysis: Many whales participating in PUMP contract transactions on Hyperliquid are engaged in low-leverage trading or primarily focused on arbitrage.

On July 10th, Ethena Labs made an announcement. It stated that Coinbase Pro has emerged as the most recent hedging platform for the underlying asset of USDe. "The open contracts on Coinbase Pro have recently exceeded one billion dollars. This provides significant liquidity that can be employed to hedge the underlying asset of USDe by means of appealing funding rate arrangements."

On July 10th, based on EmberCN's monitoring, an address withdrew 17,925 ETH from Kraken within the past half an hour, which is approximately worth 50 million US dollars. This address has withdrawn a total of up to 72,050 ETH in 22 hours, with a value of 200 million US dollars.

On July 10th, the stablecoin project Plasma officially announced that the XPL public sale will commence on July 17th. Deposits and withdrawals will be locked on July 14th (72 hours prior to the sale), which represents the final opportunity for users to withdraw. The reserve deposits cannot be used for this round of sales. After the sale concludes, all deposits will remain locked for at least 40 days. Previously, the stablecoin project Plasma stated that the $1 billion raised from deposits is not for the XPL sale itself, and the public sale of XPL has not yet begun. All funds will be bridged to the Plasma mainnet testnet and will be fully owned by depositors. Depositors will participate in the sale based on the final unit ownership at the time of the lock. The public sale terms remain unchanged: 50 million XPL tokens will be sold, with a fully diluted valuation of $5 billion. Plasma previously received a strategic investment from Founders Fund under Peter Thiel and announced in Februa

On July 10th, the cryptocurrency exchange Kraken registered as a Virtual Asset Service Provider in Argentina. It then entered the Latin American market and launched local currency deposit services in both Argentina and Mexico.

On July 10th, Mester of the Federal Reserve said: Stablecoins are an interesting innovation in the payment field. Establishing a regulatory framework is a positive thing. Stablecoins may become an important part of payments. (Gold Ten)

On July 10th, Hainan Huateng announced that its parent company, Hainan Huateng Yellow Bee Digital Technology Co., Ltd., has completed a strategic investment in Nanchang X Love Technology Co., Ltd. Upon the completion of the transaction, the company will hold a 5% stake in the company. X Love Technology owns the digital asset trading platform XMeta and the overseas NFT aggregation ecosystem platform XMeta.HK. (Jin10)