Gate.io Launches INIT Perpetual Contract Pre-trading

On May 18, data from LookOnChain indicates that amid the market downturn, the large Ethereum whale has continued adding to its long positions in ETH. The whale’s four addresses collectively hold 120,000 ETH, valued at $254 million, with an unrealized loss of over $17.5 million. Notably, this whale significantly boosted its ETH long positions on May 16.

May 18: A South Korean exchange triggered circuit breakers for the KOSPI index after KOSPI 200 futures dropped 5%, halting algorithmic trading for five minutes. (FX168)

On Monday, May 18, during morning trading, Bitcoin spearheaded a sharp sell-off across the cryptocurrency market. Within one hour, it plunged quickly below $77,000 before a minor rebound, and is now trading at $77,234.09. As a result, the global crypto market recorded $527 million in liquidations over that short period. Meanwhile, HYPE bucked the downtrend, emerging as one of the few top mainstream cryptocurrencies to gain value. The token rose following the announcement that trade.xyz’s pre-IPO launch is tied to SpaceX. As of press time, HYPE trades at $45.65, marking a 4.41% increase in the last 24 hours. Following the crypto swings, Asia-Pacific equities opened broadly lower. South Korea’s KOSPI index dropped 3% intraday and is currently at 7,267.97 points. Key market-moving news: Market panic has been stoked by reports that Trump is reconsidering launching airstrikes against Iran alongside Israel. Another sentiment factor: South Korea’s Samsung Electronics will hold the second

On May 18, U.S. stock futures extended their losses, while Nasdaq futures fell 1%.

May 18. A research report from CITIC Securities notes that on May 15, the 10-year U.S. Treasury yield crossed above 4.5% and the 30-year U.S. Treasury yield hit 5.0% — breaking through two key psychological thresholds. At the same time, long-term interest rates across major developed markets including the U.K., Japan, and Germany are rising in lockstep, putting pressure on global risk assets. CITIC Securities attributes the recent rate hikes to multiple factors: a broad-based uptick in U.S. inflation data, lingering "Powell Pivot" muscle memory, growing supply pressures for U.S. Treasuries, political turmoil in the U.K., and concerns about fund outflows sparked by rising Japanese government bond yields. As the global anchor for asset pricing, a significant jump in long-term U.S. Treasury rates is expected to drive a stronger U.S. dollar, weigh on growth stock valuations, create downward pressure on precious metals and long-duration credit assets, and trigger liquidity shocks in emergi

On May 18, monitoring from Onchain Lens reveals that amid the crypto market’s sharp downturn, a ShapeShift whale stepped in to buy the dip, investing $5.88 million to acquire 2,656 ETH. The whale now holds 129,667 ETH, valued at $274.78 million. Notably, this whale was previously thought to be associated with ShapeShift founder Erik Voorhees, though Voorhees has since come forward to deny any such connection.