Merciless Backstab of Hyperliquid, Trove Operations Team Accused of Iranian Background
On January 19, Trove—a project planning to build a perpetual contract DEX focused on leveraged trading of non-traditional assets like collectibles, real-world assets (RWAs), stocks, and prediction markets—originally launched on the Hyperliquid ecosystem and completed an ICO earlier this month, raising roughly $11.5 million.
During this period, the community flagged controversies including claims that the project paid KOLs for promotion (with funds flowing to an entertainment platform’s deposit address) and that the ICO fundraising deadline was repeatedly changed.
Recently, the project abruptly announced it was ditching the Hyperliquid route to rebuild its entire perp DEX on Solana. At the same time, the Trove team began dumping HYPE. Facing community outrage, the official explanation was that a liquidity provider (LP) closed a 500,000 HYPE position due to "recent negative sentiment," which altered the project’s trajectory.
Amid these eyebrow-raising moves, blockchain analyst @
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「Battle-Profit God」 Take-Profit Close BTC Long and Immediately Long ETH
January 19th, per monitoring from HyperInsight (Telegram: @HyperInsight), the "Battle King" trader closed a 40x-leveraged long position of 73.49 BTC for a profit of $6,063, then immediately went long on 249.23 ETH with 20x leverage at an average price of $3,210.2.
The wallet address has executed 176 transactions: only 4 of these resulted in a total loss of $5,191.12, while the remaining 172 were all closed with realized profits, yielding a total account profit of $345,700.
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ETHGas: Airdrop Snapshot Completed, Airdrop Query Will Open Tomorrow at 9:00 PM
On January 19, the ETHGas Foundation announced that the GWEI airdrop snapshot has been completed. The snapshot was captured at 08:00 on January 19, 2026.
Next steps include:
- Airdrop eligibility checks opening at 21:00 on January 20
- Community airdrop distribution launching at 21:00 on January 21
Eligibility is based on two criteria:
1. Historical gas consumption on the Ethereum mainnet
2. Social and community engagement with the Gasless Future project
The foundation stressed that eligible users must meet specific historical gas consumption thresholds (tracked via Gas ID to monitor Ethereum mainnet gas spending). They also need to join key community activities, including sharing their Gas ID on X and participating in social actions tied to the Open Gas Initiative.
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This morning, during Bitcoin's price plunge, the largest single liquidation amount across all exchanges reached $25.83 million
Jan 19th — Bitcoin saw a sharp drop this morning, plummeting more than $3,000 in two hours and sliding from $95,400 to under $92,000.
Over that window, the largest single liquidation on the network hit $25.83 million, with the trade occurring on the Hyperliquid platform.
Notably, as of press time, total Bitcoin contract holdings across the network have reached 663,900 BTC — up roughly 14,000 BTC from the prior day.
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A whale is bullish on the future market, simultaneously longing BTC and HYPE
On January 19, monitoring from HyperInsight (via its Telegram channel @HyperInsight) shows a crypto whale opened an 80-BTC long position with 40x leverage at 17:03, with an average entry price of $93,141.4.
Prior to this, the same whale had opened a 50,000-HYPE long position with 10x leverage at an average entry price of $24, leaving the account slightly in the red.
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