A Whale Makes Big Bet by Shorting Oil, Total Position Reaches $74.66 Million
Per LookOnChain monitoring as of April 10th, whale wallet 0x9D32 is aggressively shorting crude oil, with a total position size of $74.66 million. This includes:
- 39,900 contracts of xyz:CL (≈$37.95 million)
- 39,000 contracts of xyz:BRENTOIL (≈$36.71 million)
Liquidation levels for the positions are set at $141.23 for xyz:CL and $141.60 for xyz:BRENTOIL.
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Two addresses suspected of belonging to the same entity deposited 18.58 million RAVE to Bitget before the RAVE price spike.
On-chain analyst Ai Auntie (@ai_9684xtpa) noted on April 10th that two addresses suspected of belonging to the same entity deposited 18.58 million RAVE tokens to Bitget 10 hours ago—right around the start of RAVE’s price surge.
At the time of the deposit, RAVE was trading at just $0.43, putting the holding’s value at $8 million. Now, with RAVE priced at $1.027, the tokens have appreciated to $19.08 million.
The funds in the two addresses came from two sources: Bitget withdrawals and the RAVE token deployment address.
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Yesterday, a whale who heavily shorted BTC was liquidated with a $43.3 million margin, becoming the top-ranked largest single liquidation on the entire network.
On April 10, per HyperInsight monitoring, after Bitcoin (BTC) rebounded above $72,000, a whale address starting with 0x2fc triggered the liquidation of a 40x-leveraged BTC short position twice in a row at 11:00 PM last night. A total of 423.4 BTC was liquidated, worth approximately $30.5 million. One of the liquidations hit $24.4 million—making it the largest single liquidation across the entire network in the past 24 hours. The short position was opened at 5:00 PM yesterday.
Following the liquidations, the address quickly opened another 40x-leveraged BTC short position with 176 BTC (worth roughly $12.83 million) and was liquidated again at 7:00 AM this morning, once more ranking as the day’s largest liquidation. The total value of the two liquidations exceeded $43.3 million, resulting in a $580,000 loss.
Currently, the address has opened a 40x-leveraged short position for the third time. However, its funds have been significantly depleted after the two prior liquidations, so it
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TAO drops over 9% in 24 hours, market cap falls to $32.11 billion
**April 10th Crypto Update: TAO Tanks 9%+ Amid Bittensor Governance Blowup**
Per HTX market data, TAO has dropped more than 9% in the past 24 hours, currently trading at $292.7 with its market cap falling to $3.211 billion.
On the news front, decentralized AI training group Covenant AI released a public statement officially announcing its exit from the Bittensor network. The team called out Bittensor key figure Jacob Steeves (alias Const) by name, accusing him of systematically betraying decentralized pledges.
Covenant AI founder Sam Dare disclosed that Const has recently taken a string of oppressive measures against his team:
- Suspended token emissions for its subnets
- Revoked its management control of its own community channels
- Unilaterally decommissioned subnet infrastructure
- Applied economic pressure via large-scale, high-profile token dumping amid the conflict
Covenant AI flat-out labeled Bittensor’s touted “three-person multi-sig governance” a “decentral
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Tao 24h Price Change -13.11%, Covenant AI Exits Bittensor Network
April 10th: HTX data shows Tao is currently trading at $292.85, down 13.11% over the past 24 hours.
Previously, BlockBeats reported that Covenant AI—a decentralized AI training team—issued a public statement officially announcing its withdrawal from the Bittensor network. It also directly named Jacob Steeves (alias Const), a key figure tied to the network, accusing him of systematically betraying decentralized commitments.
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Covenant AI Announces Departure from Bittensor: Decentralization is a Lie, One Person Controls the Whole Network
April 10 — Covenant AI, a decentralized AI training team, formally announced its departure from the Bittensor network Wednesday, directly calling out the protocol’s key figure Jacob Steeves (aka Const) for systematically betraying its decentralized promise.
Covenant AI founder Sam Dare revealed Const recently took punitive actions against his team: pausing token emissions for its subnets, stripping the team of community channel management rights, unilaterally decommissioning subnet infrastructure, and exerting economic pressure via large-scale, high-profile token dumps amid the conflict.
The team bluntly labeled Bittensor’s touted “three-person multisig governance” as “decentralization theater”: Const effectively controls the multisig, can unilaterally bypass consensus to push through changes at any time, and other participants serve only as legal liability shields. “The entire core promise of Bittensor — that no single entity could control it — is a lie,” the statement said.
3 minutes ago
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