AAVE's continued decline led to multiple liquidations of long positions on Hyperliquid, with the founder "self-funding a market rescue" now facing a $2 million unrealized loss.
December 23 — Per monitoring from HyperInsight (via its Telegram channel), a leading long whale address (0x074) on Hyperliquid has been liquidated multiple times and fully wiped out over the past 15 hours, driven by AAVE’s continuous decline yesterday and this morning. The short-term liquidation volume totals approximately $1.19 million. This long position was opened on November 16 at an average price of $189.
On-chain analyst Yu Jin reported that Aave founder Stani Kulechov once again bought the dip in AAVE tokens this morning. Earlier today, Stani withdrew 1,699 ETH (worth roughly $5.17 million) from Kraken and purchased 32,658 AAVE at an average price of around $158.
Notably, this marks Stani’s second recent dip buy. He began accumulating AAVE on December 16, when governance tensions escalated between the Aave development team and the community DAO. Statistics show that since the start of this governance dispute, Stani has spent a cumulative 5,000 ETH (≈$14.84 million) to buy
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Analyst: The 2026 Altcoin Season Is Unlikely to Occur, 'Blue Chip Survivors' Will Ultimately Prevail
On December 23, CoinEx Research Chief Analyst Jeff Ko noted that the typical altcoin rally could weaken next year, with only "blue-chip" cryptocurrencies capturing the bulk of liquidity. "Retail investors hoping all altcoins will benefit will be disappointed. We don’t expect a traditional altcoin rally season—instead, liquidity will be highly selective, flowing only to truly market-recognized blue chips."
Ko forecasts a moderate bullish trend for global liquidity by 2026, though divergences in central bank policies will temper this upward momentum. He also added that since the launch of ETFs in 2024, Bitcoin’s historical sensitivity to M2 money supply growth "has weakened, and the correlation is declining."
Further, Ko stated the firm’s "base case forecast is that Bitcoin will hit a target price of $180,000 by 2026."
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The Russian Central Bank Acknowledges the Role of Bitcoin Mining in the Stability of the Ruble
December 23 — Russia’s Central Bank has officially reversed its longstanding hardline stance on digital assets, recognizing the country’s thriving Bitcoin mining industry as a stabilizer for the ruble, according to a FinanceFeeds report.
Central Bank Governor Elvira Nabiullina told RBC Media (the outlet affiliated with the Royal Bank of Canada) in a recent interview that value inflows from mining operations now support the national currency’s exchange rate. The acknowledgment marks a pragmatic shift for the institution, which had previously pushed for a complete cryptocurrency ban.
While Nabiullina noted precise impact measurement remains difficult—given much of the mining sector operates in a legal gray area—she framed mining as a tangible macroeconomic variable. The move comes as Russia seeks alternative financial channels to circumvent international sanctions and manage liquidity amid extreme economic pressures.
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Kaspersky Warns of Complex Stealka Malware Targeting Cryptocurrency Portfolios
On December 23, financefeeds reported that global cybersecurity firm Kaspersky has issued an emergency alert for a new sophisticated info-stealing tool called “Stealka,” which has launched large-scale attacks against Windows users.
Discovered in late 2025, Stealka is specifically built to steal sensitive financial data, browser credentials, and cryptocurrency wallet information. It spreads primarily via deceptive platforms like GitHub and SourceForge, masquerading as “cracks” for pirated software or popular applications.
Notably dangerous, the malware uses advanced obfuscation techniques to evade traditional signature-based security tools—often going undetected even during full scans of victims’ devices. This threat emerges as annual password theft detections have jumped nearly 60%, signaling a more aggressive phase in the evolution of digital financial crime.
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There is a spread between the Pacifica and Hyperliquid LIT perpetual contracts in the pre-market, and both funding rates are inverse.
December 23rd — Official website data from Pacifica and Hyperliquid shows pre-market perpetual contracts for Lighter (LIT) are trading with price and funding rate discrepancies across the two platforms, prompting some traders to pursue arbitrage hedging.
Currently, LIT trades at ~$3.94 on Pacifica, with a -0.0134% funding rate (shorts pay longs). On Hyperliquid, the token is priced ~$4.05, with a +0.0013% rate (longs pay shorts). The price gap is roughly 1%, and their funding rate directions are opposite.
Earlier today, Hyperliquid launched LIT (Lighter) USDC perpetual contracts, supporting up to 3x leverage.
On-chain data analysis and copy trading tool Coinbob has rolled out Coinbob Pacifica (@CoinbobPAC_bot), letting users copy high-frequency traders’ strategies, earn trading points, and gear up for potential airdrop opportunities.
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