An Whale Withdraws $3.71M Worth of PEPE from Binance

Two wallets opened longs on 7.2M $SYN ($1.34M) on @Aster_DEX and now sit on $450K in unrealized profit, with returns up to 116%.

Two wallets opened longs on 7.2M $SYN ($1.34M) on @Aster_DEX and now sit on $450K in unrealized profit, with returns up to 116%.

Beating AI News (Dongcha) reports that Prime Intellect has released the Rust version of its open-source AI coding tool Prime Agent. Over two weeks, the project orchestrated more than 2,200 agents to rewrite its own codebase from TypeScript to Rust, leveraging over 10,000 isolated sandboxes and consuming more than 200 billion tokens via the GLM-5.3 inference service. The workflow uses a lead orchestrator agent to break down tasks and prioritize them, with other agents handling planning, coding, review, and validation respectively. New code is cross-checked against the old version to verify UI display, session logs, and model requests; changes that fail review or testing are sent back for revision. The lead orchestrator agent does not write product code itself. Tests released by Prime Intellect show the new version’s cold start time (from launch to ready for input) dropped from ~738ms to 56ms, a roughly 13x speedup. Startup memory usage fell from ~607MB to 106MB, an 83% reduction. The new version also adds Windows beta support, with the code now open-sourced on GitHub. However, automated testing did not catch all issues. In the coming weeks, the team will continue to have AI fix bugs, complete features, and optimize performance, while human engineers will identify problems, guide revisions, and review results.

According to an on-chain perpetual contract market research report released by Castle Labs, Hyperliquid’s cumulative protocol revenue has exceeded $1.4 billion, with over $1.26 billion used to repurchase HYPE tokens in the open market. By open interest, Hyperliquid currently holds more than 56% of the on-chain perpetual contract market share. The report also notes that Hyperliquid’s Builder Codes mechanism allows third-party wallets and applications to integrate its trading infrastructure, enabling them to add perpetual contract trading and earn revenue without building their own systems. Among these, Phantom has generated over $25 million in cumulative revenue through this mechanism, while MetaMask’s cumulative revenue exceeds $10.5 million.

Hyperliquid plans to carry out a network upgrade around 16:15 Beijing Time today, with an estimated downtime of approximately 10 minutes.

As of 2026, Bitcoin has seen 10 trading days with 3-standard-deviation price moves, exceeding the full-year total of 8 such days during the 2018 bear market. While Bitcoin’s annualized volatility has dropped from 84% in 2018 to around 46%, extreme price swings remain frequent relative to its recent volatility levels. A 3-standard-deviation move measures how much a price deviates from its typical recent volatility range. Data shows that the average daily price swing for Bitcoin during these extreme moves this year is roughly 7%, down from about 10% in 2018. Since 2024, Bitcoin’s volatility has stood at approximately 47%, similar to Nvidia’s. Yet over the same period, Bitcoin has recorded 26 trading days with 3-standard-deviation moves—far outpacing Nvidia’s 8, the S&P 500’s 16, and gold’s 12. Market analysts note that macroeconomic shocks, leverage in derivatives markets, and concentrated positions are key drivers of the persistent extreme volatility. When investors heavily sell options betting on market calm, sudden news can trigger mass liquidations of those positions, further amplifying price swings. Deribit CEO Luuk Strijers stated that traditional Value-at-Risk (VaR) models fail to adequately measure tail risks during extreme market conditions, advising investors to focus more on risk metrics like Expected Shortfall. Meanwhile, increased institutional participation, deeper liquidity, and improved risk management have enhanced the market’s ability to absorb shocks, though this does not mean extreme volatility will disappear.