This week, the net outflow of funds from the United States Ethereum ETF reached a record high.

According to official announcements, Solana-based on-chain lending protocol Loopscale has announced that its platform has restored priority loan functions, and all loans now allow additional collateral operations. For loans not funded by the USDC Genesis Vault, borrowers can repay in full to retrieve their collateral. However, collateral withdrawal functions for loans linked to the USDC Genesis Vault remain temporarily disabled, while vault withdrawals and other protocol functions continue to be restricted. The team is collaborating with partners on security recovery efforts. Loopscale stated it has identified and contained two attack vectors exploited by attackers in this incident. First, attackers leveraged an incorrect asset pricing parameter configuration, causing collateral deposited in the SOL Genesis Vault to be misvalued as another asset, enabling them to secure an under-collateralized loan of approximately $412,000. Next, attackers used an atomic transaction combination to sell a loan with an abnormally high interest rate to the USDC Genesis Vault, artificially inflating its net asset value (NAV) and siphoning around $521,000 in redemption funds. This operation was intercepted by the system within 30 seconds of the transaction being generated. Loopscale emphasized that user deposits will not suffer losses as a result of this incident.

According to official announcements, Immutable plans to upgrade its Immutable Chain from a Geth-based custom fork to an OP Stack-based blockchain by mid-2027, while retaining its existing state and Chain ID. After the upgrade, all accounts, balances, smart contracts, and authorization records will remain unchanged, with no action required from users or developers in most cases. The upgrade will reduce the block time from 2 seconds to 1 second, transform Immutable Chain into an Ethereum Rollup, and enable state proof-based cross-chain bridging and Ethereum data availability. However, transaction costs will rise slightly, and native withdrawal times will extend to approximately 7 days. The migration is expected to pause block production for several hours, with a specific timeline to be announced in advance once confirmed. Immutable noted that the migration will be based on directly verified state commitments published to Ethereum, replacing the existing native bridging solution that relies on the Axelar cross-chain messaging network, and will introduce permissioned fraud proofs and zero-knowledge validity proofs in phases. Additionally, building on OP Stack will facilitate faster adoption of protocol upgrades, EVM upgrades, and security patches. Meanwhile, Immutable plans to discontinue support for game development testing on its current Immutable testnet by the end of 2026. The decision stems from the testnet’s lack of third-party integrations, which makes it difficult to meet the testing needs of complex game workflows, as most games have shifted to local or production chains for testing.

According to TradingBeats monitoring, from the opening of U.S. stock markets last night to noon today, on Hyperliquid’s HIP-3 individual stock, index, and ETF contracts, at least 83 addresses reduced or liquidated 121 million-dollar-level long positions at a loss, with total losses of approximately $23.65 million. Among these, at least 6 addresses saw individual account cumulative losses exceeding $1 million. This round of losses was mainly concentrated in individual stocks, while indices and ETFs accounted for more exit trades. S&P 500, Nasdaq 100, and their related indices and ETFs together recorded 51 loss-making position reductions, making up about 42.1% of all exited positions, with total losses of around $3.26 million, accounting for 13.8% of the total losses. Specifically, the S&P 500 mapped contract had 19 loss-making reductions, and the Nasdaq 100 had 15, totaling 34 trades, which is about 28% of all exited positions. For individual stocks, SK Hynix (its Korean stock SKHX and ADR contract SKHY) saw concentrated position reductions, while SanDisk (SNDK) recorded huge losses from a single asset. SK Hynix’s SKHX and SKHY contracts together had 28 loss-making long position reductions, totaling around $3.62 million in losses, making it the individual stock combination with the most addresses and positions involved. SanDisk (SNDK) only had 7 loss-making reductions, but its cumulative losses reached approximately $8.42 million, accounting for 35.6% of all losses, making it the single largest loss source in this round. Nebius, Meta, and Micron also saw large-scale loss exits, with losses of around $2.65 million, $2.17 million, and $1.76 million respectively. Notably, the loss size of SanDisk’s 7 positions already exceeded the total losses from all 51 exited positions of indices and ETFs. This large-scale long position retreat was mainly concentrated in individual stocks, especially those in the previously heavily held semiconductor and AI industry chains.

According to Onchain Lens monitoring, a Bitcoin whale that had been inactive for a year has reactivated, withdrawing a total of 1,286 BTC from Binance in two separate transactions over the past 24 hours, valued at approximately $98.11 million. The latest withdrawal amounted to 643 BTC, worth around $48.58 million.

JPMorgan Chase has cut Microchip Technology (MCHP.O) target price from $120 to $100.

According to TradingBeats monitoring, the largest on-chain short position holder that profited from Google’s plunge a week ago has been shorting US tech stocks over the past week. It reaped massive gains from yesterday’s US stock market sell-off, with daily earnings peaking at $9.04 million. The holder has now started closing out short positions and turning bullish, having closed CHIP short positions and added to SK Hynix long positions in the past hour, bringing its total cumulative profits for the full cycle to $18.64 million.