Meme Token NPM Sees Short-Term Crash of Over 80%, Market Cap Plunges to $800k

April 3: Drift announced via official social media that its team has identified key details about those involved in the security breach. We’re currently sending an on-chain message to the ETH wallet holding the stolen funds and are open to communication. Please reach out via Blockscan Chat.

On April 3rd, data from Coinglass and Hyperinsight Monitoring (Telegram: https://t.me/HyperInsight) shows the XPL token price saw sharp overnight volatility. Between 1:00–5:00 AM, XPL surged 42% in a straight line to a high of $0.167. But starting at 5:10 AM, it plummeted over 40% in less than 5 minutes—dropping below $0.12 and erasing all intraday gains. Ahead of the spike, five new Hyperliquid addresses simultaneously deposited funds around 1:00 AM: each transaction exceeded $200k, totaling ~$1.292 million. They then heavily opened leveraged XPL long positions, likely coordinating with buy orders on other platforms to pump the price. During this run, the five addresses racked up massive unrealized profits, more than doubling their initial capital. Between 4:30–4:40 AM, the five addresses quickly withdrew all deposited margins plus gains—pushing their liquidation price sharply higher, near the threshold. At 5:10 AM, they were simultaneously liquidated at ~$0.12971, triggering

April 3rd – Chloe (@ChloeTalk1), a columnist for HTX DeepThink and researcher at HTX Research, noted that a critical shift in the macro environment followed former President Donald Trump’s latest national address on Iran. The market has transitioned from being driven by “high interest rates + inflation constraints” to a new phase marked by “geopolitically driven supply shocks + policy uncertainty.” Oil prices rallied past $100 (WTI crude topping $103), the risk premium for the Strait of Hormuz surged, and U.S. Treasury yields climbed in tandem. Markets interpreted this as a mix of “stickier inflation and a longer tightening cycle,” forming a dual negative feedback loop of tightening liquidity and higher discount rates for risk assets. For the crypto market, the key question is whether global risk appetite has contracted. Oil price gains are essentially a reallocation of global liquidity: more capital is being passively deployed to hedge energy costs and inflation, reducing margin

April 3rd — According to official sources, OKX will support network upgrades for Polygon, Kaia, and Flare. To ensure a smooth upgrade process, the platform will suspend: - Kaia network deposits/withdrawals starting at 08:30 UTC+8 on April 7, 2026; - Polygon network deposits/withdrawals starting at 21:30 UTC+8 on April 8, 2026; - Flare network deposits/withdrawals starting at 19:30 UTC+8 on April 14, 2026. Please avoid making deposit or withdrawal transactions for the affected tokens during the upgrades to prevent fund losses. Once the upgrades are completed and running stably, deposit/withdrawal services will resume without further notice. Trading of the affected tokens will not be disrupted during the upgrades, but note market volatility risks.

On April 3, data from Defillama shows Polymarket—an encrypted prediction market—ranked fifth among crypto protocols in daily revenue, hitting $1.71 million. BlockBeats previously reported that starting March 30, Polymarket will introduce taker fees for nearly all trading categories for the first time. The new fee structure features variable rates: cryptocurrency-related contracts top out at 1.8% peak rates, with actual fees adjusting along a curve tied to share prices and market dynamics. Sports, Finance, Politics, Culture, Weather, and General categories have lower tiered rates, while Meta categories and some economic category predictions see higher peak rates of roughly 1.5%. Additionally, Polymarket team member Mustafa confirmed the platform will support using the POLY token for fee discounts, in response to a question from a community member.

On April 3rd, Onchainlens monitoring shows a whale sold 1323 ETH today for approximately 2.7 million USDC. Two months prior, the address withdrew 1327.48 ETH (valued at roughly $3.99 million) from Binance. This sale resulted in a $1.28 million loss (about a 32% drawdown) after holding for nearly two months. Currently, the address holds only ~5.76 ETH (worth around $11,800).