Whale Deposits 494K $HYPE ($37.83M) to Coinbase in 24 Hours

Abraxas Capital's 2 hedging accounts on Hyperliquid have made over $353M in total profit! They currently hold over $1.29B in short positions.

StandX announced today that the query page for DUSD airdrop eligibility and distribution is now live. Feedback from the community and KOLs is overwhelmingly negative. Most active participants say their points do not align with actual returns: some users report over 20,000 points only translate to 31.91 DUSD, while airdrop amounts for some accounts with $5,000 in pre-deposits are zero. Multiple KOLs, after sharing screenshots, stated bluntly that "stopping halfway would have been more cost-effective", adding that the scheme resembles a fee discount rather than a genuine airdrop. Some voices, however, argue that the project team’s choice not to issue tokens, use remaining revenue plus team funds to compensate users, and provide a clear exit timeline constitutes a relatively responsible wrap-up. Overall, the core of the controversy lies in the gap between expectations and the lack of transparency in the rules.

According to Coinglass data, Bitcoin once again dipped below the $80,000 mark today. That said, funding rates on major centralized (CEX) and decentralized (DEX) crypto exchanges show the market’s bearish momentum is easing, with rates overall still holding in the neutral range; specific funding rates are detailed in the attached chart. BlockBeats Note: The funding rate is a mechanism set by cryptocurrency trading platforms to align contract prices with underlying asset prices, typically used for perpetual contracts. It is a fund exchange between long and short traders—platforms do not collect this fee, instead using it to adjust the cost or returns of traders holding contracts, ensuring contract prices stay close to their underlying assets. A 0.01% funding rate is the benchmark. A rate above 0.01% signals broad bullish sentiment, while a rate below 0.005% indicates widespread bearishness.

Liquid Capital founder Yilihua said in a post that he has repeatedly warned of a market pullback over the past month. Bitcoin has now broken below the $82,000 and $80,000 support levels, and is poised to fall below $79,000. If it breaches that level, the next major support stands at $75,000, followed by $71,000. However, Liquid Capital still maintains that the prior $57,000 level marks the bottom of this bear market, so the only remaining question is when to buy the dip. There is no clear answer yet as market conditions are constantly shifting, but investors can now fully focus on identifying dip-buying opportunities.

Beating AI Express: Just two days after Moonshot AI launched its Kimi K3.1 Pro model, the service issued a public apology over membership rate limits and unnecessary credit consumption. Kimi acknowledged the issues were its own fault, noting they should have been fixed earlier, and announced it would compensate all active subscribers across all tiers with an additional 25% of their monthly total quota—roughly equivalent to one week’s usage. Additionally, Kimi revealed it has adjusted plan parameters and is cutting unnecessary sub-agent calls and verbose outputs.

According to Lookonchain's monitoring, over the past 24 hours, three wallets suspected to belong to the same whale transferred 494,310 HYPE tokens to Coinbase, valued at approximately $37.83 million.