Arthur Hayes Family Office Terminates Advisory Relationship with Drift Protocol

On April 6th, as per the monitoring of lookonchain, a whale address unstaked 202,604 SOL tokens (approximately $24.3 million) 2 hours ago and transferred them to Binance for a stop-loss measure. This address had previously withdrawn 201,755 SOL tokens (approximately $25 million) from Binance on March 13th when the price was $124. Currently, it is facing a loss of $678,000.

On April 6th, according to Token Terminal, the total interest paid by market borrowers on the Aave platform (on the Ethereum network) has exceeded one billion US dollars. Aave founder stani.eth made a comment on this, stating that "DeFi will prevail."

On April 6th, based on Coinglass data, the current funding rates of mainstream CEX and DEX indicate that the cryptocurrency market has returned to a neutral state. It is no longer overwhelmingly bearish but also not bullish. The specific funding rates for mainstream coins are shown in the attached image. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a mechanism for the exchange of funds between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish ma

On April 6th, based on Coinglass data, the volatility of Bitcoin has been on a continuous decline for 7 days and has now dropped to 2.52%. High Bitcoin volatility is usually associated with speculative trading and the FOMO sentiment among retail investors. When volatility subsides, it may suggest a reduction in short-term speculators, the market entering a consolidation phase or a "cooling-off period". In addition, Bitcoin price volatility is often related to macroeconomic events such as inflation expectations, interest rate changes, or geopolitical risks. When these external factors stabilize, the volatility of Bitcoin may decrease accordingly.

On April 6th, ZachXBT made a post on the X platform, saying: "In the past month, Coinbase has inexplicably locked my account twice (and it was locked again today). Coinbase had a customer data leakage incident in the past, but it has not disclosed it transparently until now (resulting in theft). Although Coinbase provides a decent annual percentage yield for stablecoins, I still would not recommend Coinbase as a trading platform to anyone."

On April 6th, CZ and Vitalik both attended the offline event of BNB Chain's MVB Season 9 which was held in Hong Kong. It is reported that the Season 9 of MVB centers around AI, DeFi, DePIN and other tracks. The selected teams will take part in a 4-week intensive incubation program and have the possibility to obtain investment support from YZi Labs.