XPL on Hyperliquid Continues to Surge, Breaking $1.1 Mark with a 36% Premium Over Binance

On August 29th, as per on-chain analyst @mlmabc, the renowned trader TechnoRevenant is maintaining a significant long position in XPL with low leverage on Hyperliquid. Currently, he holds 28,295,963 long contracts of XPL (approximately $31.1 million), which accounts for 35.5% of Hyperliquid's total open interest ($87.5 million). In addition, he also has $26.534 million of idle funds in USDC on Hyperliquid. It is worth noting that all these positions are leveraged at less than 1x, and he is gradually conducting a TWAP operation instead of making purchases in the market, thereby minimizing the impact on the short-term market.

August 29th: Based on the information on the official website, Binance Futures might have had a downtime, and the trading data could not be updated in real-time. The official information shows that the futures transfer service has been temporarily suspended. As of the time of this writing, Binance has not yet issued an official response.

On August 29th, Bitcoin fell below $111,000, experiencing a 24-hour decline of 1.54%.

August 29th. Binance Alpha is set to launch Dexlab (XLAB), and trading will commence on August 29th, 2025 at 3:00 PM (UTC+8). Eligible users can utilize Alpha Points to claim a 1,500,000 XLAB token airdrop on the Alpha activity page within 24 hours following the start of trading. The airdrop will be distributed in two stages: In Stage 1 (the first 18 hours), users possessing at least 254 Alpha Points are eligible to claim the airdrop. In Stage 2 (the last 6 hours), users holding at least 230 Alpha Points can participate in the second stage of the airdrop on a first-come, first-served basis. If the event is not yet completed, the point threshold will automatically decrease by 15 points per hour.

August 29th. Justin Sun, the founder of TRON, stated that on August 26th, the TRON Super Representatives community proposed a 60% reduction in Tron network fees. This constitutes the most substantial fee reduction since the establishment of the Tron network. The proposal has now received approval and will come into effect at 20:00 GMT+8 on Friday, August 29th. Justin Sun holds the following viewpoints regarding this proposal: The fee reduction is a genuine benefit for users. A 60% reduction is a courageous move that most networks are unable to match; The short-term profitability of the TRON network will be impacted, but in the long run, profitability will be enhanced, with a greater number of users and more transactions occurring on the Tron network; In the future, the TRON Super Representatives community will regularly observe network fees on a quarterly basis. They will evaluate the network's fees based on indicators such as TRX price fluctuations, network usage, future growth ra

On August 29th, Binance declared that it will raise the per-user limit for subscribing to the Plasma USDT lock-up product to 50,000 USDT. The existing subscription limits will remain unchanged. Users who have already subscribed 10,000 USDT can increase their subscription amount. It should be noted that there will be no new batch of subscriptions, and the total subscription limit will not be increased.