链上动态 · 22

Nansen integrates Hyperliquid perpetual contract transactions to support smart money and on-chain data analysis

According to official news, blockchain data analysis platform Nansen announced that it has officially launched the Hyperliquid Perp (perpetual contract trading) function, which is open to all web and mobile users. Users can directly complete Hyperliquid perpetual contract transactions within Nansen while tracking Smart Money, giant whale addresses, and well-known investor chain movements, and check key data such as funding rates, long and short position ratios, and wallet-level position distribution in real time to achieve an integrated research-and-trade experience. Nansen said that the platform simultaneously launched the Hyperliquid Perps Leaderboard (Perpetual Contract Ranking), which supports screening by Smart Money, giant whales, and leading traders, and can be ranked based on cumulative performance over the past 7 days, 30 days, or history, to help users quickly discover the best-performing wallet addresses. Additionally, users can also directly receive asset transfers from other Hyperliquid addresses through in-app deposits from external wallets, or cross-chain from connected Solana and Base wallets to Hyperliquid. In addition to trading features, Nansen has further expanded data coverage of the Hyperliquid ecosystem, including HyperFnd on-chain activity monitoring and the Hyperliquid Data API. Users can track HyperEVM active addresses, contract deployments, and ecosystem growth in real time, while the development team can obtain real-time Smart Money perpetual contract positions, unrealized profit and loss (PnL), account health, complete transaction history and performance data through the API to support quantitative analysis, strategy development and application construction.

46d ago

Crypto Market Outlook for the Week: Federal Reserve Meeting Minutes to be Released, SpaceX to Be Included in the Nasdaq 100 Index

Comparatively, the crypto market will focus on the minutes of the Federal Reserve meeting, US economic data, and various crypto industry events this week. The macro environment and on-chain dynamics may influence digital asset trends together. On the macro side, the Federal Reserve will announce the minutes of the June FOMC meeting in the early morning of July 9, Beijing time. The market hopes to use this to determine the future interest rate path. In addition, the US ISM service sector PMI, consumer inflation expectations, initial jobless claims, and China's June CPI data will be released one after another. On the industry side, SpaceX will be officially included in the Nasdaq 100 Index on July 7, becoming the fourth index component to hold Bitcoin after Tesla, Strategy, and Mercado Libre. According to the data, SpaceX currently holds about 18,712 BTC, and it is expected to benefit from the passive allocation requirements of index funds after being included in the index. Additionally, US mining company American Bitcoin (ABTC) will resume trading after completing a 1:15 reverse stock split to avoid being delisted by NASDAQ; Berachain will complete the PoL Next upgrade on July 7. In terms of on-chain governance, ENS DAO, Frax DAO, Nexus Mutual DAO, and Arbitrum DAO will all end voting on multiple governance proposals this week. In terms of token unlocking, Hyperliquid (HYPE) will unlock 0.2% of the tokens in circulation on July 6, worth about $30.39 million; RAIN will unlock about 7.64% of circulation, worth about $787 million; and PUMP will unlock about 29.12% of circulation on July 12, worth about $130 million. In addition to macroeconomic data, developments in the Russian-Ukrainian situation and the continued weakening of the yen are also worth watching. Recently, the exchange rate between Bitcoin and the US dollar showed a strong negative correlation with the depreciation of the yen often accompanied the strengthening of the price of Bitcoin.

47d ago

Data: If ETH falls below $2,020, the cumulative liquidation intensity of mainstream CEX orders will reach $894 million on-chain dynamics

Comparatively, according to Coinglass data, if ETH falls below $2,020, the cumulative liquidation intensity of mainstream CEX's multiple orders will reach US$894 million. Conversely, if ETH surpasses $2,229, the cumulative liquidation intensity of mainstream CEX empty orders will reach $774 million.

92d ago#On-chain dynamics

Bankless | Hyperliquid 2025 Battle of the Gods, can it hold in 2026?

Source: Bankless Author: David Christopher Original title: Hyperliquid & The Year Perps Caught Fire Compiled and organized by: BitPushNews The perpetual contract exchange boom continued throughout 2025, and Hyperliquid was in a leading position. Can it continue to stay ahead as competition intensifies? Looking back at the crypto industry's growth in 2025, Hyperliquid is an unavoidable focus. The exchange ended 2024 with an epic airdrop and price performance, drawing a large number of crypto Twitter users to once again follow the product. By the end of 2025, it had completely transformed — it became a groundbreaking platform, ranking fourth in revenue in the entire crypto ecosystem, with total revenue of over $650 million, and at one point accounting for 70% of perpetual contract trading volume. (Data source: Token Terminal) If you don't keep following every step of Hyperliquid, this groundbreaking success may seem like a vacuum. But TA's path to conquest was the product of careful design, unconventional growth strategies, and well-deserved external recognition. Here's a full review of Hyperliquid's development in 2025 (and why it'll be tested in 2026): First quarter of 2025: Crypto-native advantages Hyperliquid's rapid growth year began with a profound reminder to “really keep up with the pulse of the industry.” When the TRUMP token was launched in January, Hyperliquid launched a perpetual contract almost immediately, getting ahead of other exchanges and starting its winning streak as the “preferred place to trade pre-issued tokens.” Of course, part of the reason it is able to act quickly is that it is not hampered by the “corporate fences” of large exchanges that protect users and companies. But one important factor is its firm “insight” — because its team is closely intertwined with on-chain dynamics, can identify opportunities and recognize the advantages of being the first to launch these tokens. This solidifies Hyperliquid's reputation as the go-to place to trade new assets before existing giants respond. In February, HyperEVM was released — a generic smart contract layer built on HyperCore (Hyperliquid's exchange engine). Although it took some time for it to find a foothold, there was no top-down incentive plan for its success. This means that by the time it got on track in Q2, it had built a core user base that stayed there not to “jerk off” rewards, but because they believed in the chain's vision and wanted to take advantage of its unique features (such as interoperability with HyperCore) rather than just to extract incentives. Second quarter of 2025: The full explosion of the market attracted more attention than most people expected. In addition to HYPE tokens rising nearly 4x from their April low, Hyperliquid accounted for 70% of all on-chain perpetual contract trading volume by May — an astonishing number for a platform with zero VC support and zero token incentives. The high point of the HYPE token, the explosive growth of HyperCore activity, and the development of the HyperEVM ecosystem are spreading the Hyperliquid story. As the market came back to life, Hyperliquid's smooth user experience (UX) and deep liquidity captured massive order flows, and total trading volume climbed to $1.5 trillion. As mentioned, HyperEVM is also on track, with its total locked value (TVL) growing from $350 million in April to $1.8 billion in mid-June, thanks to the launch of projects (such as Kinetiq, Felix, and Liminal) and users' exploration of new earning opportunities — all of which continue to burn HYPE tokens in the background. Amid this rapid growth, Hyperliquid seems to be everywhere. It appeared on a national TV show, was reported by Bloomberg, and became the focus of the CFTC policy conversation. This exchange has become impossible to ignore. Third quarter of 2025: peak of momentum and differentiation to begin the third season...

253d agoWendy#2026 topics #Felix Protocol #Trade.xyz #HYPERLIQUID #Perpetual contracts

Gensyn launches Delphi, an open marketplace for machine intelligence

Comparing news, Gensyn, a blockchain-based AI computing protocol, tweeted that it is launching Delphi, an open marketplace for machine intelligence. Delphi is currently live on the Gensyn testnet. Delphi automatically operates as a market maker based on decentralized on-chain symmetric logarithmic market scoring rules (LMSR) to provide continuous liquidity from initial transaction to final settlement. Users can observe the competitive performance of machine learning models in real-time in benchmarking, and can invest in equity in models. Model evaluation, transaction execution, and price changes are all done dynamically on the chain.

256d ago

Glassnode: Bitcoin is looking forward to the next decisive trend after historical sky options expire

Comparing news, Glassnode published an analysis of the Bitcoin market opinion, saying that on-chain dynamics continue to highlight the key role of the short-term holding cost base, which has provided reliable support since May 2025. Prices are still being challenged by dense supply clusters between $11.4 million and $11.8 million, but the easing of long-term holder distribution and the return of ETF funding suggest that demand is stabilizing. Market sentiment measured by RVT and the Fear and Greed Index indicates that the market is cooling down, and the market is shifting to consolidation rather than capitulation. In the options market, positions were reset on record expiry dates, and open positions are now re-entering the fourth quarter. The volatility has weakened, the slope is moving in the direction of neutrality, the curve is still in a positive spread, and the back end is stronger. The flow of funds showed moderate upward interest, while the gamma values of traders remained roughly balanced, inhibiting hedging capital flows. Taken together, these signals indicate that the market is returning to a more neutral and constructive environment, awaiting the next decisive trend.

323d ago

Galaxy Digital In-depth Research Report: The Ultimate Truth About the Meme Coin Economy

Source: Galaxy Digital Author: Will Owens Compiled and Sorted by: BitPushNews Introduction Meme coins have become the mainstay of the cryptocurrency market, but they often have negative stigma and ongoing controversy. Since most memes go to zero over time or are outright scams, skeptics think they are worthless. To be fair, most do. Like all trading, the meme coin market is ultimately a zero-sum game: one trader's profit comes from another trader's loss. But unlike assets with underlying cash flow or utility, memes have almost nothing but cultural value, which makes losses more common and often more serious. We outlined these developments in our 2024 Galaxy Research Report and believe that memes should not be completely denied. After a year, this field will only become more complex and important. Although joke tokens have been around since the early days of cryptography (Dogecoin was launched in 2013, and the long-forgotten Coinye West launched the following year), the modern meme coin era began with DOGE's rise in 2017. Then came Shiba Inu Coin, followed by BONK and Dogwifhat on the Solana blockchain, and finally Pump.fun in early 2024. The launch platform spawned MOODENG, Pnut, TROLL, and millions of other memes. Pump.fun changed everything. For the first time, the entry threshold for starting a meme coin was almost zero. For just a few dollars and no coding skills, anyone can create a token that can be instantly traded, liquid, and deployed through a bound curve. This marks a structural shift in the meme coin. Token creation has surged, and launching platforms has become the new normal. Pump.fun homepage, the epitome of “Degen” Unlike altcoins that usually claim some form of “utility” (governance rights, fee revenue, service access rights), memes have no utility by definition. Other than as cultural tokens, ideological carriers, and symbols of friendship and collective identity, they are actually useless. Trading meme coins is less about fundamentals and more about what can be described as “cultural arbitrage”: predicting or preempting cycles, such as buying tokens associated with viral TikTok trends before the market is aware of them. In the long run, the vast majority of market participants end up losing money when trading memes, and in many ways, this is pure gambling. But it is lazy to completely deny this field and ignore its importance. The ecosystem faces challenges, particularly on Solana, which dominates the total transaction volume of meme coins. Snipers and “bundlers” capture most of the supply at the initial moment of the coin's launch, causing future selling pressure. The median holding time for memes is calculated in seconds as traders mine new trading pairs to make quick profits. However, memes are here to stay. In an increasingly digital world, the existence of pure cultural assets makes sense. Crucially, memes also act as an entry point into the crypto space: they pull new retail participants who wouldn't otherwise use these products into wallets and decentralized exchanges. For many, meme coins are their first step into crypto-native infrastructure, opening the door to deep participation in DeFi. KEY POINTS* Meme coins currently account for ~ 30% of Solana DEX trading volume, down from 60% in January * Of the approximately 12.8 million Pump.fun tokens, only 12 tokens (0.00009%) account for > 55% of the platform's total fully diluted market capital* Pump.fun tokens have a total fully diluted market value of over $4.8 billion * This exceeds Solana's launch platform tokens Total fully diluted 85% of market value. No other platform can compare to it. * Since its launch, Pump.fun has captured a significant share of the Solana launch platform market. It has only been surpassed by another launch platform twice, and each time for a short time. * The most recent competitor to temporarily surpass Pump was Bonk.fun this summer. * The median holding time for tokens on Solana is around ~100 seconds, down from ~300 seconds previously. * This utilitarian act highlights the increasing trading s...

324d agoWendy#DEX #MEME #meme topic #Pumpfun #transactions #speculative

April Cataclysm: Decentralized Beliefs Tested

Source: aminagroup Original title: Troubled Waters Compilation: BitPushNews YananApril 2025 was an uncertain month for the cryptocurrency market. The beginning of the second quarter seemed calm and quiet, but a number of incidents soon occurred one after another. Each of these events revealed the fragile nature hidden behind some of the most ambitious projects in the industry. In this article, we'll take a detailed look at the latest on-chain developments: from the sudden price crash to the more noteworthy underlying issues — the state of implementation of the decentralized concept, the effectiveness of risk management, and how protocol governance actually works. Mantra's unexpected collapse On April 13, 2025, Mantra, a benchmark project in the real-world asset tokenization field, experienced a dramatic price crash. Its token, $OM, plummeted from $6 to $0.6 in just a few minutes, and an astonishing 90% drop caused the $5.5 billion market value to evaporate instantly. The crash not only severely damaged market sentiment, but also revealed deep problems in the operation of the project, and even questioned the viability of the entire RWA (Real World Asset) circuit. As a pioneer in introducing traditional assets such as real estate and bonds to the blockchain, Mantra has won the favor of both institutional and retail investors, and the development trend seems unstoppable. However, under the bright picture, hidden dangers have long been laid — the most critical contradiction centered on the $OM token distribution mechanism. The project initially promised to issue 50 million tokens and use a phased unlock plan, but without sufficient communication, it quietly adjusted to release 0.3% per day and continue for an extremely long vesting period until 2027. Although the team claimed this was to maintain long-term stability, community members generally felt left in the dark: they were unable to participate in key decisions and were increasingly confused about the actual direction of the project. The trigger for the crash was ignited in the Binance Futures Market. Within a few seconds, a series of large shorting orders sprung up one after another, putting huge pressure on the $OM price. Liquidity on other platforms such as Bybit and OKX began to dry up almost simultaneously — one of the traders on OKX, later known as the “OM Whale,” pushed prices further down through a series of large sales orders, completely igniting market panic. On-chain data reveals even more disturbing signs. A giant whale wallet that has held coins for over a year suddenly began transferring large amounts of $OM tokens to the exchange. Although the single transfer was unsurprising, its timing had a terrible resonance with the sell-off on exchanges, which accelerated the market's loss of control. In the end, nearly 4 million units of $OM were sold centrally in a short period of time, triggering chain liquidation and completely breaking down the market's last line of confidence. What appeared to be an organized sell-off quickly turned into a complete collapse, and the community's trust in the project was destroyed. The collapse of Mantra taught the industry a heavy lesson: rebuilding a new order on top of the traditional financial system requires a more stringent structure than expected. Although the prospects for real asset tokenization are still broad, this incident clearly shows that the project must have true transparency, fairness, and resilience to extreme market fluctuations. Without these roots, even the most beautiful vision could instantly come to nothing. Arbitrum DAO's governance crisis A recent farce staged on Arbitrum DAO exposed the weaknesses of decentralized governance. A user named HitMonlee.eth spent only 5 ETH (about 10,000 US dollars) and obtained the right to vote in 19.5 million ARB tokens worth 6.5 million dollars through the Lobby Finance platform. This platform, which specializes in delegating voting rights, unwittingly opens a convenient door for managing loopholes. After holding a huge amount of voting rights, the user immediately supported community member CupoJoseph in his bid for a seat on the DAO Supervisory and Transparency Committee. Although the exchange of interests in governance games is not uncommon, the peculiarity of this incident is that voting rights on such a large scale can be bought at such a low price. The discovery immediately caused an uproar in the community, and forced people to re-examine the true value of so-called “decentralized” on-chain governance. Faced with questions, Lobby Finance defended its model, stressing that the platform aims to promote transparency and broad participation in governance. However, the platform also admits that the existing mechanisms are flawed, admitting that stricter protective measures may be needed to prevent potential misuse. This statement has caused even more waves within the community — the debate over the direction of governance reform continues to ferment: some members argue for a direct ban on financial transactions...

485d agotopyy#HYPERLIQUID #MANTRA #MEME #Binance

Memecoin Global Market Portrayal: Deconstructing Users, Narratives, and Community Culture

Author: JE Labs1. Overview The Memecoin market has developed rapidly on a global scale in recent years, and regions such as the United States, China, South Korea, and Europe have formed various unique ecosystems. In these markets, KOLs have an important impact on community activity, market sentiment, and trading trends. This article will focus on the six major markets of the US, China, South Korea, Europe, Japan, and Russia, identify the most representative Memecoin KOLs in each region, and analyze their trading activity, communication methods, and community influence. By studying the characteristics of KOLs in different markets, we can better understand Memecoin's communication logic and transaction model around the world. 1.1 The purpose of the research is to compare the development of Memecoin in different regions — compare its trading volume, regulatory policies, KOL influence, etc. Select representative KOLs from all regions — select the most influential KOLs in the US, China, South Korea, and European Memecoin markets. It also studies the voice, communication methods, and audience preferences of KOLs in different regions in the market to find differences in the market. Summarize the characteristics of active KOLs in the community — analyze these KOLs' social media strategies, community interaction methods, and their impact on trading trends to provide a reference for projects that want to enter the corresponding market. 1.2 Research the logic of regional selection In the global crypto market, Memecoin, as a unique crypto ecosystem, shows great regional differences due to its community-driven nature, cultural influence, and market speculation. This report selected China, the US, Europe, South Korea, Japan, and Russia as the main analysis subjects for the following reasons: US: As the core region of global cryptocurrency transactions, it has long dominated Memecoin's liquidity and trading volume. Many well-known Memecoins (such as $DOGE and $SHIB) originated in the US and have formed a huge ecosystem around the world. China: With a large investor base and a highly active community, users' enthusiasm to trade Memecoin via DeFi and CEX remains high despite regulatory restrictions. The Chinese market is highly speculative and can often drive short-term markets, and even spawn meme tokens with local characteristics. Korea: It has always been one of the most active cryptocurrency markets in the world, particularly in terms of short-term transactions and community operations. Korean investors tend to have high-frequency transactions and FOMO mentality, causing local Memecoin to often break out in extreme markets within a short period of time. Furthermore, K-Pop culture in South Korea also provides a rich source of creativity for the Memecoin narrative. Europe: Compared to the more speculative Asian market, European users prefer cultural identity and long-term value investment. Many native Memecoins combine elements such as political irony and social movements to form a unique market style. Japan: The Memecoin market is significantly influenced by ACG (anime, manga, game) culture and two-dimensional brand effects. The project content mostly focuses on anime characters, internet comics, and vTubers, forming a native meme model that distinguishes it from other countries. Russia: Affected by international sanctions and the local social environment, the Russian Memecoin market is clearly closed and speculative. High inflation and ruble depreciation drive safe-haven demand, and cryptocurrencies have become an alternative investment tool for speculation and hedging asset shrinkage. 2. Global Memecoin Market Overview 2.1 Memecoin VS Traditional Crypto Project Memecoin and traditional crypto projects (such as public chains, DeFi protocols, Dapps, etc.) all belong to the cryptocurrency field, but they have significant differences in core values, driving forces, and how the market understands and responds. Comparing Memecoin with traditional crypto projects 2.2 Comparing market characteristics in different regions Memecoin's development in different regions is influenced by culture, regulation, and market preferences, and there are big differences in market characteristics: Comparing market characteristics of each region US: The US has a large cryptocurrency investor base, but the investor structure is diverse, including institutional investors and individual investors. Institutional investors prefer to invest in mainstream cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH); however, individual investors, especially the younger generation, have shown strong interest in Memecoin. China: Due to China...

490d agoburnking#MEME #Global market picture #narrates #users #community

Coinbase Wallet Adds Notifi Crypto Transaction Reminder

Compared to Twitter News, users of the Coinbase mobile crypto wallet can now automatically get on-chain dynamic alerts through the messaging service Notifi. Perpetuals exchange GMX is the service's first customer, according to a press release. Customers of platforms based on Arbitrum and Avalanche will receive notifications about pending liquidation and governance updates, and can also design their own automated message notifications. The service marks the expansion of Coinbase's XMTP-based messaging channel. Since July of last year, the XMTP protocol has allowed Coinbase wallet users to send messages to each other. Notifi is also using the XMTP protocol, according to the press release.

806d agoWendy#Coinbase #Notifi #wallets