A HYPE whale cut losses on $16.4 million worth of long position exposure, only retaining some spot positions for defense.

On-chain analyst Ai Yi (@ai_9684xtpa) wrote that Bankless co-founder David Hoffman is among the standout traders in the current market cycle. Hoffman liquidated his entire ETH position in May and reallocated funds to VVV, NEAR, ZEC, HYPE, and LIT in June. To date, four of the assets he disclosed purchasing have posted sharp gains, with LIT leading at a 293% increase. Specific entry costs and current returns are as follows: NEAR: ~$1.4 entry, up ~223%; ZEC: ~$560 entry, up ~173%; HYPE: ~$45 entry, up ~106%; LIT: ~$1.35 entry, up ~293%; VVV: entry cost undisclosed. Hoffman reiterated his bullish outlook on ZEC and NEAR earlier today. He stated, “ZEC in 2026 is what ETH was in 2021,” adding that if ZEC’s narrative can convince some Bitcoin holders, its price could continue to climb. He also labeled NEAR a “new consensus anchor for smart contracts,” noting its buying pressure is likely driven primarily by retail investors, though the token is also on an upward trajectory.

According to GMGN data monitoring, the Solana-based meme coin RuneScape Gold (GP) briefly broke through $30 million in market capitalization, hitting an all-time high, and is now trading at $27.4 million, with a 24-hour increase of over 101%. GP is themed around the in-game gold of classic game *RuneScape*, paired with tokenized gold GLDx. Each GP transfer charges a 3% tax; accumulated fees are regularly converted by StonkFun and distributed proportionally to eligible holders in the form of GLDx, forming a mechanism of "earning gold price exposure rewards by holding tokens". It is a high-volatility meme asset that combines nostalgic game narratives, transaction tax dividends, and the concept of tokenized gold. BlockBeats reminds users that most meme coins have no practical use cases, experience significant price volatility, and require caution when investing.

Well-known trader Doctor Profit stated that he has increased his Bitcoin short position to $13 million, expecting BTC to undergo a correction targeting $79,000. He will decide on his next moves based on price performance once Bitcoin hits that level, and emphasized that this short position does not reflect a bearish outlook on Bitcoin’s long-term trend. The trader believes Bitcoin’s bear market has ended, and the current pullback is merely a phase adjustment within the ongoing bull run; once the correction concludes, Bitcoin’s bull market will continue.

With Japan’s holiday period drawing to a close, the risk of yen intervention is back in focus. The yen has fallen for two consecutive weeks, bringing it once again near the closely watched 160 level. Strategists believe the 160 level is once again a test of Japan’s tolerance for yen depreciation, as the currency has remained weak since the Bank of Japan’s (BOJ) September 18 policy meeting. While the BOJ has accelerated its tightening cycle, internal divisions exist within the committee, while the U.S. appears to be moving toward a more hawkish path. Carol Kong, currency strategist at the Commonwealth Bank of Australia (CBA), stated that if U.S. yields continue to rise and markets keep testing Japan’s resolve to defend the yen, USD/JPY could soon break through 160. A rapid break above this level would substantially raise the likelihood of official action, particularly given recent reports that Japan has conducted foreign exchange checks and the precedent of coordinated interventions. (Jinshi)

Financial investment data firm PitchBook’s latest 46-page report has valued prediction market platform Kalshi, projecting a base-case valuation of roughly $30.4 billion, a high-case valuation of up to $42.1 billion, and a bear-case valuation of $22.8 billion. Kalshi closed a $1 billion Series F funding round in May this year, with a post-money valuation of $22 billion. PitchBook forecasts Kalshi’s revenue will hit $6.4 billion by 2030, with adjusted profit reaching $3.7 billion, adding that its partnerships with platforms like Robinhood and Susquehanna, plus market makers, will help solidify its market share. However, regulatory risks in the sports prediction market remain a key variable weighing on Kalshi’s valuation. PitchBook data shows the sports segment currently contributes around 69.9% of Kalshi’s event fee revenue; when including "exotic" products such as multi-event parlays, that share rises to 82.4%. Multiple U.S. states and Native American tribes have filed lawsuits challenging the legality of Kalshi’s sports prediction products, with related cases creating splits among federal appeals courts; the U.S. Supreme Court is expected to take up the matter next year. PitchBook notes that even if the final ruling is unfavorable to Kalshi, the firm could adjust its business model by securing state-level licenses and expanding non-sports prediction products, though a sharp decline in sports revenue would still significantly impact its growth outlook.

Data shows that trader Point Farm Capital has once again topped the 24-hour profit leaderboard on the FOMO platform. Its current account assets stand at around $17.164 million, with its account page indicating assets grew by approximately $2.088 million in the past 24 hours. STONK remains its primary holding: the account currently holds 39.2 million STONK tokens valued at roughly $14.376 million, accounting for about 84% of total assets. Calculated at a holding return rate of 907.76%, its unrealized profit is around $12.949 million. Additionally, its Christmas Cracker (CRACKER) holding is worth approximately $638,000 with a 283.23% return rate, while its RuneScape Gold (GP) holding is valued at around $516,000 with a 202.35% return rate.