A whale made a short-term large HYPE spot purchase on HyperLiquid in an attempt to squeeze the shorts, causing significant funding rate distortion and a sharp price fluctuation.
On November 25th, according to MLM Monitoring, a whale deposited 32 million USDC into HyperLiquid. It used the Time-Weighted Average Price (TWAP) to sweep the spot market for HYPE with the intention of squeezing large short positions (about 5% from the liquidation price). Within 15 minutes, the whale bought HYPE worth $14.5 million. At the same time, it also placed short orders worth $7.05 million in the range of $34.5 to $36, trying to induce the short positions to be squeezed.
Subsequently, traders shorted against its buy orders, resulting in the funding rate briefly surging to over -800% and triggering a spot premium of $0.4. The whale then sold 100,000 HYPE (worth $3.3 million) in the market, causing the price of HYPE to drop by 4% in a few seconds.
The squeezed short positions now hold only 727,000 HYPE ($24 million), which is less than their previous position of 2.1 million HYPE ($67.1 million).
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OKX Dual Currency Savings has added support for OKB and ZEC, and is now officially open for subscription
On November 25th, according to an official announcement, the Dual-Currency Yield Product of OKX has officially added support for OKB and ZEC. All relevant series of products were fully opened for subscription on November 24, 2025. The Dual-Currency Yield is designed to assist users in "buying low" or "selling high" of a designated currency at a target price while earning additional annualized yield. The newly added OKB and ZEC products both support the "selling high" and "buying low" strategies. Users can make purchases or sales at the target price based on the relationship between the expiration price and the target price and receive corresponding USDT or coin-based returns. In addition, OKX VIP users can enjoy a higher Dual-Currency Yield rate.
The newly launched OKB and ZEC Dual-Currency Yield products are now synchronized within the App. Users can go to "Discover > Dual-Currency Yield > View More" to enter the corresponding currency page, choose "selling high" or "buying low", set
9 minutes ago
Mainstream Perp DEX Overview: Hyperliquid Rises to the Top with $9.8 Billion in Trading Volume, Lighter Falls to Second
On November 25th, according to Defilama data, there was a rebound in Perp DEX trading volume over the past 24 hours. Hyperliquid experienced a significant increase in trading volume and currently ranks first, while Lighter dropped to second place. The current partial Perp DEX trading volume is as follows:
Hyperliquid reported a 24-hour trading volume of approximately $98.7 billion, a TVL of around $43.6 billion, and an open interest of $63.8 billion.
Lighter recorded a 24-hour trading volume of about $91.5 billion, a TVL of approximately $11.9 billion, and an open interest of $17.1 billion.
Aster had a 24-hour trading volume of around $83.2 billion, a TVL of about $13.4 billion, and an open interest of $22.5 billion.
EdgeX saw a 24-hour trading volume of approximately $59.1 billion, a TVL of roughly $4.53 billion, and an open interest of $7.29 billion.
ApeX's 24-hour trading volume was about $27.9 billion, with a TVL of $48.36 million and an open interest of $32.74 million.
Varia
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Alpha Arena New Season Recap: 8 Top Model Stocks Live Trading Portfolio Temporarily "Wiped Out," Grok 4 Down 56% in Last Place
November 25th. The new season of Alpha Arena commenced on the 20th. As of the moment of this writing, all 8 major AI models participating have been defeated. GPT-5.1 currently leads with a return rate of -7.78%, while Grok 4 is at the bottom with a return rate of -56%. The newly added domestic model Kimi 2 is currently showing a return rate of -32.8%.
In this season, models are required to participate in multiple matches, each with a distinct theme. Overall, these matches act as stress tests for the models and showcase their robustness in response to various prompts. However, in the same match, all models receive the same input. The format of this season's matches includes real-time trading of US stock tokens on trade.xyz.
9 minutes ago
dingaling: Will step back and serve as an advisor behind the scenes at boop.fun
On November 25th, NFT Whale and the token issuance platform boop.fun's founder, dingaling, announced that he will withdraw from the forefront of the boop.fun platform and serve as an advisor. bakraparty will lead the project to "forge ahead."
In April of this year, dingaling posted on social media: "The Solana-based token issuance platform boop will be launched this week, and an airdrop will be conducted at the time of launch to reward trading users." However, the airdrop for the project was unsuccessful. On May 11th, Boop.fun released an update on the BOOP airdrop, stating: "We will end the new airdrop claim ahead of schedule. The current airdrop mechanism did not create the platform value as we expected. Instead, it was exploited and manipulated, disrupting the overall experience."
9 minutes ago
Source: Insider
Insider: Source: Trump is going all-in to plan ahead for the midterm elections, with a tax cut proposal set to be a key campaign theme
November 25th - Although Trump will not be on the ballot in the next November's midterm elections, he is fully committed to a last-ditch effort. This election is of great significance to his presidential term and political life. According to 9 Republican strategists involved in the election, he is making calls to candidates, endorsing early, formulating strategies, and promoting economic messages in an attempt to maintain Republican control of Congress.
“Presidents usually do not get involved until the later stage of the campaign,” said Bill Galston, a former senior adviser in the Bill Clinton White House. He added, “This level of engagement at this time is highly unusual.”
Six GOP insiders told Reuters that Trump hopes internal candidates will run on his tax cut plan as a campaign theme. The plan was passed by the Republican-controlled Congress in July. Their aim is to make voters understand that after filing taxes in April next year, they will receive more tax refunds from the IRS,
9 minutes ago