HYPE Resurgence: Two Whales Eager to Buy the Dip

May 18 Update: Trade.xyz’s Pre-IPO (Pre-IPO Contract) announced this morning that it’s now listed on SpaceX. As of press time, SPCX is trading at $216, translating to a $2.56 trillion valuation. In the first hour after the trading pair went live, trading volume reached $11.48 million, and open interest rose to $12.34 million.

May 18 — Jeffrey Gundlach, CEO of DoubleLine Capital LP and widely known as the “New Bond King,” told Fox News’ *Sunday Morning Futures* that there will be no interest rate cut at the Federal Reserve’s upcoming policy meeting. “In my view, a rate cut isn’t feasible right now when the 2-year U.S. Treasury yield is nearly 50 basis points higher than the federal funds rate,” he noted. Gundlach added that newly confirmed Federal Reserve Chair Kevin Warsh is taking over amid a “difficult period.” The ongoing war with Iran has driven oil prices up, which has in turn impacted U.S. inflation data. April’s Consumer Price Index (CPI) surged to 3.8%—the fastest pace since May 2023—and Gundlach predicts this upward inflation trend will persist. DoubleLine Capital’s model shows the next headline CPI reading will come in at a figure starting with a “4.” On the stock market, Gundlach commented: “The market is very expensive and highly speculative, but consistent earnings that beat expectations are

On May 18, Ethereum co-founder Vitalik Buterin weighed in on Ethereum’s state storage challenge. He explained that even though users store raw data themselves, the blockchain only retains hashes of that data, and transactions include only proofs—but the data required to verify those proofs still needs to be stored and updated, eventually growing nearly as large as the blockchain’s full state. Buterin noted there are solutions to the issue, though they require multiple components and come with significant tradeoffs compared to Ethereum’s current setup. Earlier, DeFi content creator marilyn100x.eth highlighted Ethereum’s state storage problem, pointing out that developers pay a one-time upfront fee to write data, while nodes bear the long-term costs of storing that data. Proposed EIP-8037 is not a time-weighted rent or continuous fee model; instead, it would sharply increase initial gas fees for new contracts, accounts, and storage slots to curb state growth during the network’s scaling

On May 18, open-source data visualization tool Grafana announced on the X platform that an unauthorized attacker recently gained access to a token that allowed entry to Grafana Labs’ GitHub environment, which they used to download the company’s code. An investigation confirmed the incident did not involve any customer data or personal information being compromised, nor did it have any impact on customer systems or business operations. The company immediately launched a forensic analysis, identified the source of the credential leak, invalidated the relevant credentials, and deployed additional security measures to better protect its environments. Additionally, Grafana disclosed that the attacker tried to extort a ransom to prevent the code repository from being made public. Ultimately, the company decided to refuse paying the ransom and will release more details from the incident postmortem once the investigation is finished.

On May 18th, according to Bitget market data, spot gold fell below $4,500 per ounce, marking the first such decline since late March, with an intraday drop of 0.85%.

On May 18, monitoring from Onchain Lens reveals that a crypto whale trading under the alias "Evaded" opened a 10x leveraged long position, purchasing 36,875 ZEC and 87,000 HYPE tokens for a total position value of $24 million. This whale has now become the largest ZEC bull on Hyperliquid.