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The whale known as '1011', who previously faced a liquidation of around $230 million, has deposited an additional 9 million USDC into Hyperliquid (HYPE), according to on-chain analyst ai_9684 xtpa. This brings the total deposit amount since yesterday to 19.01 million USDC. The whale has currently placed buy orders for HYPE worth approximately $1.15 million in the $49.725 to $52.36 price range. Their current spot holdings of HYPE are valued at around $2.48 million. Additionally, the whale is maintaining a 5x leveraged long position of 504.4 BTC, worth about $38.95 million, which currently has an unrealized loss of approximately $85,000.

According to CoinNess market monitoring, BTC has fallen below $77,000. BTC is trading at $76,954.25 on the Binance USDT market.

The supply of Bitcoin (BTC) held by long-term holders (LTH) has climbed to 16.3 million BTC, nearing its all-time high, CoinDesk reported. LTHs are typically defined as investors holding BTC for over 155 days. According to on-chain data, LTH holdings have grown by more than two million BTC from the 14.12 million BTC recorded when the cryptocurrency hit its all-time high last year. Approximately 200,000 BTC has been added in the past month alone. This trend mirrors the typical accumulation pattern of long-term investors, who generally build their positions during bear markets and realize profits during bull runs. Notably, this recent surge breaks a two-and-a-half-year downtrend in LTH supply that had persisted since the launch of U.S. spot BTC ETFs in 2024. This shift suggests that long-term investors may once again perceive the current price level as an accumulation zone.

The three major U.S. stock indices opened lower today. - S&P 500: -0.38% - Nasdaq: -0.51% - Dow Jones: -0.30%

Guy Wuollet, a partner at a16z Crypto, the cryptocurrency investment arm of Silicon Valley venture capital firm Andreessen Horowitz, has argued that the financial industry is entering a digital transformation phase similar to the cloud computing era, with blockchain set to become its core infrastructure. He explained that Wall Street is adopting blockchain not for ideological reasons but for practical benefits, including reduced counterparty risk, improved settlement efficiency, and guaranteed fair transaction ordering. Furthermore, Wuollet stated that digital assets are not just tokens but represent the migration of the financial system itself to on-chain infrastructure. He emphasized that blockchain-based finance can accelerate innovation through composability—the ability for assets to be freely combined and expanded. He predicted that this will lead to the transformation of the current closed financial system into an on-chain collaborative network.

Crypto finance infrastructure company Cycles has raised $6.4 million in a seed funding round, TechFundingNews reported. The round was led by Blockchainje Ventures, with participation from Coinbase Ventures, Compound VC, and Primitive Ventures. Cycles plans to use the funds to build a private clearing network for the cryptocurrency market.

Bitcoin hardware wallet company Foundation announced it has raised $6.4 million in a new funding round. The round was led by Fulgur Ventures, with participation from Arche Capital. Foundation stated it plans to use the funds to expand beyond its Bitcoin self-custody wallet business into AI agent authentication, digital identity, and multi-factor authentication.

Christopher Giancarlo, the former chairman of the U.S. Commodity Futures Trading Commission (CFTC) known as "Crypto Dad," has joined Jefferies Financial Group as a senior advisor to its investment banking division, Bloomberg reported. During his tenure at the CFTC, Giancarlo supported the launch of BTC futures products by CBOE and CME and was also involved in advancing the self-certification of BTC derivatives.

Cryptocurrency exchange and wallet provider Blockchain.com has confidentially filed for an initial public offering (IPO) in the U.S., Unfolded reported. The company is currently valued at $7 billion, down from $14 billion in 2022.

JPMorgan has analyzed that tokenized money market funds (MMFs) account for only about 5% of the total stablecoin market, despite offering yields. According to CoinDesk, the bank explained that stablecoins are established as the core cash instrument within the crypto ecosystem for trading, collateral, settlement, and DeFi liquidity management. In contrast, tokenized MMFs are classified as securities, subjecting them to regulatory burdens such as registration, disclosure, and transfer restrictions. JPMorgan projected that without regulatory changes, the tokenized MMF market is unlikely to exceed 10% to 15% of the stablecoin market. However, some market analysis suggests that the growth of tokenized MMFs could continue, driven by expanding demand from institutional investors for on-chain settlement and collateral.

Curve Finance (CRV) has announced it will conduct a database upgrade and maintenance on May 25. The platform stated that the work is expected to take approximately 20 minutes to one hour, during which the Curve user interface will be temporarily inaccessible.

DDC Enterprise, an e-commerce company listed on the New York Stock Exchange, announced the purchase of an additional 200 BTC, bringing its total holdings to 2,583 BTC.

AllianceDAO founder Qiao Wang has set a conservative target for Zcash's (ZEC) market capitalization at three to 5% of Bitcoin's (BTC), suggesting that BTC holders may allocate some of their assets to ZEC as a hedge. In a more aggressive scenario, he argued that ZEC could grow to reach 15% to 20% of BTC's market cap, an assertion he compared to the value ratio of silver to gold. Wang also noted the possibility of ZEC surpassing BTC in the event of a catastrophic event for Bitcoin, such as a massive sell-off initiated by Michael Saylor or a quantum computing attack. ZEC has risen more than 25% over the past month, with its current market capitalization standing at approximately $10.9 billion.

According to data from Coinglass, the Coinbase BTC Premium Index has fallen to -0.1011%, its lowest level since April. Market analysis suggests this indicates growing selling pressure from U.S. investors, despite a recent rebound in BTC's price amid easing tensions related to Iran. CoinNess previously reported the index has been negative for six consecutive days.

According to The Block, BTC continues to show weakness below the $78,000 level, with market pressure mounting from spot ETF outflows and large-scale long position liquidations. This week, spot BTC ETFs have recorded outflows for four consecutive trading days, while the futures market has seen approximately $584 million in long positions liquidated. Glassnode noted that the market currently lacks strong spot buying pressure, suggesting that a move back above $80,000 might require a significant increase in ETF purchases or a short squeeze. Traders are now watching the $76,000 area as a key support level.

Binance CEO Richard Teng said on X that the tokenization market is approaching a significant inflection point. He cited several factors driving this shift, including increasing regulatory clarity, growing institutional access, the expanded use of real-world assets, and potential integration with traditional financial infrastructure like the Depository Trust & Clearing Corporation (DTCC) and Nasdaq. Teng predicted that the next 12 to 18 months could be a decisive period in determining the market's direction.

Cryptocurrency wallet provider Exodus (EXOD) announced it resumed purchasing BTC, ETH, and SOL in April, increasing its holdings. The company currently holds 629 BTC, 1,872 ETH, and 19,234 SOL. This follows a previous announcement that Exodus had sold over 60% of its BTC holdings in the first quarter to fund the acquisition of a payments business.

Payward, the parent company of Kraken, announced it has received preliminary approval from Dubai's Virtual Assets Regulatory Authority (VARA) for licenses covering brokerage, investment, and management. The company plans to expand its cryptocurrency business in the United Arab Emirates (UAE) following the approval.

The Hyperliquid token (HYPE) surged to an intraday high of $58.97 amid strong inflows into related exchange-traded funds (ETFs). The token is currently trading around $57, marking a daily gain of over 15%. According to Decrypt, market observers are highlighting that the recently launched HYPE ETF recorded $25.5 million in net purchases in a single day. This figure significantly surpasses the volume of HYPE's buyback and burn program, a factor analysts say is amplifying the token's supply reduction. Further bolstering sentiment, Bitwise announced it will use 10% of its ETF management fees to hold HYPE, signaling strong support for the project. The rally also reflects growing expectations that Hyperliquid is expanding beyond a simple derivatives exchange to become a broader on-chain financial infrastructure.

While major cryptocurrencies like BTC, ETH, and SOL are trending lower, tokens from derivatives protocols such as HYPE and LIT, along with privacy and quantum-resistant coins, are showing strength, CoinDesk reported. Tokens like HYPE have recently surged by over 40%, driven by an increase in decentralized perpetual futures trading volume and high fee revenue. Additionally, privacy and quantum-resistant coins including ZEC, QRL, and STRK have also been on the rise. Market analysis suggests that the spread of AI, increased surveillance, and concerns over quantum computing risks are fueling the narrative for these assets.

Allegations of a backroom deal between Dunamu and Lee Hee-jin for coin listings on the Upbit exchange have emerged during Lee's trial, JTBC reported. Lee, known as the "Cheongdam-dong stock millionaire," is on trial for a 90 billion won ($65.2 million) cryptocurrency fraud scheme. According to the report, Lee met with Dunamu's Chief Operating Officer, identified by his surname Jeong, in a hotel suite in Gangnam, Seoul on July 1, 2020. One week later, on July 8, GOM2, a coin held under a borrowed name by Lee, was listed on Upbit. Another of Lee's coins, PICA, was listed six months later in January 2021. Dunamu told JTBC that the meeting was based on a past relationship and a belief that Lee had turned over a new leaf, denying any solicitation related to the listings.

Germany's Stuttgart Group is working to build a European blockchain payment infrastructure centered on its tokenized securities settlement platform, Seturion, Cointelegraph reported. The group is collaborating with Societe Generale and online brokerage flatexDEGIRO on the initiative. Under the partnership, Societe Generale will issue the tokenized securities, while flatexDEGIRO will connect the order flow from retail investors.

Binance has announced that Gensyn (AIGENSYN) will be featured in its 64th HODLer airdrop. The airdrop is targeted at users who subscribed to BNB Simple Earn and On-Chain Yield products between 12:00 a.m. UTC on May 4 and 11:59 p.m. UTC on May 5.

Russia's Ministry of Finance and its central bank are set to finalize a draft bill regulating the cryptocurrency market next week, Tass news agency reported.

Elon Musk's SpaceX and Tesla currently hold a combined total of 30,221 BTC, worth approximately $2.3 billion, according to data from BitcoinTreasuries. This aggregate holding would make the two companies the fifth-largest corporate holder of BTC among publicly traded firms worldwide.