Gate.io Launches INIT Perpetual Contract Pre-trading

May 21: According to monitoring by Hyperinsight (via its Telegram channel @HyperInsight), a brand-new crypto address deposited $1 million into Hyperliquid yesterday. The address then quickly opened a long position on 133.94 BTC using 10x leverage, a trade worth approximately $10.4 million in total. The entry price for this long trade was $78,074, with a liquidation price set at $71,173. The wallet address involved is 0xb9763b0896fd47507ed11fad6056ec036345b720.

Bitget market data as of May 21st shows that South Korea’s KOSPI index surged 8.0% during the trading day, currently trading at 7,787.14 points. Samsung Electronics is up 7.4%, SK Hynix has jumped 11.2%, and Hyundai Motor has advanced 12.5%.

On May 21, per monitoring from Onchainlens, a newly created wallet withdrew 11,827 ZEC from Binance over the last hour, worth approximately $7.97 million.

On May 21, Glassnode reported that Bitcoin reclaimed its True Market Mean Price (TMMP) at $78,300, but failed to hold the level sustainably. Historical market cycles suggest that weeks to months of consolidation will likely be needed before a confirmed transition to a sustainable bull market. The 30-day moving average of Bitcoin’s Spent Output Profit Ratio (SOPR) has climbed from 0.4 in February to 1.8 during the recent rebound — a sign current demand isn’t enough to soak up the wave of profit-taking. For a meaningful bounce in buyer strength, this ratio will need to consistently stay above 2. The 30-day cost basis of $78,200 has flipped from a support zone to resistance, while the accumulation cluster’s cost basis (formed between February and April at $71,400) is now the most immediate level holding up Bitcoin during its current pullback. The spot market’s internal structure has weakened over the past few weeks. Spot Cumulative Value Difference (CVD) remains consistently negative, a

May 21: According to Onchainlens monitoring, a newly created wallet withdrew 5,000 ZEC from Binance approximately 30 minutes ago, worth roughly $3.37 million.

May 21: Per Hyperinsight Monitoring, over the past 24 hours, the top HYPE bull whale (suspected of HYPE listing insider trading) has grown its position’s unrealized gains while pulling out a massive $8.4 million in released margin as of press time. This move pushed the liquidation price from $37.9 to $41.3, signaling the whale is betting HYPE won’t fall below that level anytime soon. As of now, the address holds a long position of 1.38 million HYPE at 5x leverage, worth ~$78.3 million overall, with an average entry price of $38.67 and $24.8 million in unrealized gains (up 158%). Since HYPE bounced back from $20.4 in January, every major price rally has been followed by big unrealized gain withdrawals as margin—totaling over $20 million to date—pushing the liquidation price steadily higher from its $20.1 low. The whale opened this huge long position on October 23 last year, right before HYPE listed on Robinhood. Over the next 10 days, HYPE jumped from $38 to $50, but the address neve