Glassnode: Bitcoin Short-Term Holders Have Been in a State of Unrealized Loss Since 25 November

According to monitoring by ai_9684xtpa, BTW has surged 644% since August, rising from $0.1017 to $0.7572 and once again topping the 24-hour futures gain rankings. Forty minutes ago, a new address withdrew 5 million BTW from Gate, valued at approximately $3.71 million, at a withdrawal price of $0.7428. Additionally, the mysterious entity that accumulated 150 million BTW on August 20 has seen its related asset value rise from around $51.4 million to roughly $112 million, generating an unrealized profit of about $58.51 million.

According to EmberCN’s monitoring, the TRUMP token team address transferred 2.75 million TRUMP tokens to OKX again 8 hours ago, worth roughly $5.69 million. Over the past two days, the address has cumulatively sent 6 million TRUMP tokens to OKX, valued at around $12.59 million.

According to its GitHub page, the development team behind Lighter has recently submitted an update to the lighter-prover codebase, adding a "Binary options support" (prediction markets) feature. The commit involves 88 files, with 6,329 lines of new code and 1,214 lines removed, covering multiple modules including transaction processing, market data, account positions, settlement results, and zero-knowledge proof circuits.

According to GMGN market data, BSC meme project GSTOCK’s market capitalization briefly surpassed $32 million. The token is currently priced at $0.0307, with a corresponding market cap of $30.4 million, a 258.9% 24-hour increase, and approximately $19.9 million in 24-hour trading volume.

Quantitative analyst Beni posted a critique questioning prediction market platform Kalshi of artificially inflating its crypto trading volume, citing multiple data points as evidence. Beni noted that Kalshi’s ETH-PERP has an open interest of roughly $3.1 million, yet its 24-hour trading volume reaches $538.6 million — meaning all open positions turn over approximately 174 times daily, or an average of once every 8 minutes and 18 seconds. He also pointed out that Kalshi’s position leaderboard shows the largest single ETH-PERP position is only around $17,600, a clear discrepancy with the stated volume scale. Additionally, Kalshi’s prior filing with the U.S. Commodity Futures Trading Commission (CFTC) reveals that eligible Self-Clearing Member (SCM) market makers receive a 0.3 basis point rebate, while takers pay 0.3 basis points, resulting in a total trading cost of 0 basis points. Beni further mentioned that Kalshi had a liquidity-for-equity partnership with Jump Trading, leading him to question whether there is motivation to boost the platform’s volume metrics. He also challenged Kalshi’s volume calculation methodology, stating that the platform counts “number of traded contracts” as volume and displays it with a dollar sign, which may mislead users about actual transaction amounts. All claims originate from Beni’s personal posts; they represent his doubts about Kalshi’s trading data and business model, and do not equate to proven volume manipulation or wash trading on Kalshi’s part.

According to Lookonchain’s monitoring, a mysterious whale sold 1,107 BTC on Hyperliquid over the past five days, worth roughly $86.76 million, then purchased 34,422 ETH valued at around $86.50 million and staked all of the acquired ETH.