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Hyperliquid Whale Bearish on SpaceX Pre-IPO Implied Valuation, Discrepancy of $137 Billion Between Two Pre-IPO Contracts

5 hours ago

May 25, per Hyperinsight monitoring, on Hyperliquid, there are 7 whales holding over $1 million in SPCX tokens. All of the top five largest holders are currently in short positions. The three biggest whales each hold more than $3 million in SPCX, with entry prices clustered between $204 and $205 — implying SpaceX’s valuation is roughly $24.2 trillion to $24.33 trillion. The largest whale here, operating under address 0xf51, is short 19,022 SPCX tokens with 5x leverage. Its position is worth about $3.95 million, at an average entry price of $204.1. The current contract price for SPCX is $207.9, leading to an unrealized loss of approximately $70,000 (or -5%). A key note: there’s a gap in SpaceX’s implied market value between Hyperliquid’s two major Pre-IPO contracts: - SPCX/USDC (hosted on trade.xyz): Launched on May 18, its current price suggests a fully diluted valuation of ~$24.67 trillion (using a reference fully diluted share count of 11.87 billion). This contract has a daily trading volume of over $162 million and total open interest of $46.05 million. - SPACEX/USDH (hosted on Ventuals): Launched last November 13, its current price implies a valuation of around $23.3 trillion (each unit’s price equals a $10 billion market cap). Its total open interest is roughly $4.61 million. The HyperInsight Bot is now live! Add @HyperInsightBot to your community, set it as an administrator, and confirm the "Send Messages" permission is enabled — this will automatically sync on-chain data to your group.
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Huobi HTX has listed BMNR and ARM perpetual contracts and launched a Contract Trading Party.

Official Announcement: Huobi HTX Launches BMNR/USDT & ARM/USDT Perpetual Contracts With New Trading Event May 25 – Per Huobi HTX’s official announcement, the platform has rolled out two new perpetual contracts: BMNR/USDT and ARM/USDT, with a maximum trading leverage of 10x. Additionally, Huobi HTX is hosting a BMNR & ARM contract trading event running from 15:00 UTC+8 on May 25 to 15:00 UTC+8 on June 1, featuring a total prize pool of up to 20,000 USDT. Event Breakdown: ? **Eligibility**: Users who register for the event and trade BMNR/USDT or ARM/USDT contracts, reaching a cumulative trading volume of ≥1,000 USDT, will qualify to split the prize pool based on their trading volume rankings. ? **New User Benefits**: First-time traders of these two contract pairs will receive exclusive perks upon completing their BMNR/USDT and ARM/USDT transactions. For full event details and real-time updates, stay tuned to Huobi HTX’s official announcements.

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BlackRock Analyst: Under Powell Leadership, Fed Likely to "One-and-Done"

On May 25, BlackRock Group noted that under the leadership of newly appointed Federal Reserve Chair Jerome Powell, the U.S. central bank has ample justification to lean toward an interest rate cut rather than a hike. Navin Saigal, head of Asia-Pacific’s global fixed income business at BlackRock, addressed questions about the likelihood of rate increases during Powell’s tenure, stating, “If I had to choose between a rate hike and a rate cut, I believe there are actually enough factors to support a rate cut.” He added, “Looking ahead, the labor market is set to face some pressure, which could mean the Fed will either hold policy steady or implement a rate cut.” Saigal’s remarks run counter to the prevailing outlook among bond market investors, who are betting that Powell will prioritize preserving the Fed’s credibility on taming inflation over fulfilling U.S. President Donald Trump’s calls for lower interest rates. Current market pricing indicates it’s nearly certain the Federal Reserve

3 minutes ago

IOSG Denies Selling UNI and COMP: Related Wallet Unofficial Address, Arkham Label Not Verified

On May 25, crypto VC firm IOSG Ventures issued a formal clarification in a post stating it is not linked to a wallet address referenced in a report from blockchain analytics firm Onchain Lens. Onchain Lens had labeled a wallet involved in UNI and COMP transactions as “IOSG Ventures?” in a tweet, a move IOSG notes was merely unsubstantiated speculation. The address in question is not owned, controlled, or affiliated with IOSG—it is solely a deposit address for Binance. IOSG emphasized that the activities and losses described in the tweet are unrelated to the firm, adding that it has reached out to the relevant parties to correct this misrepresentation. The address, which previously deposited 2.7 million UNI and 114,352 COMP into Binance, belongs to Eliah Trend Research.

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「Today's Largest BTC Long Position」 is led by a single position of over 36.9 million, with the whale setting a stop-loss price at $73,800.

May 25: Per Hyperinsight monitoring, the largest Bitcoin (BTC) position opened on Hyperliquid today was initiated by a whale wallet with the address prefix 0xebe. Early this morning, the whale opened a long position using 476.4 BTC at 5x leverage, bringing the position’s total value to roughly $36.9 million. Its average entry price is around $76,687, and current unrealized profit has reached $367,000, a 4.7% gain. The whale has already set a stop-loss price at $73,800. Analysts estimate that if BTC drops to this level, the position will be passively liquidated, resulting in an approximate $1.37 million loss—equivalent to an 18.8% loss on its principal. Wallet Address: 0xebe837cd345469cbc5d6e1fd3d15ee5079ac885f.

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A Dormant Ethereum Early Whale Awakens After 10.8 Years, Realizing Over 6800x Gains

On May 25, crypto tracking service Whale Alert flagged a long-dormant pre-mined address holding 2,000 ETH (worth $4,234,171) that has woken up after 10.8 years of inactivity. Back in 2015, those same ETH were valued at just $620, translating to a profit of more than 6,800 times their original worth.

3 minutes ago

Trump Publicly Praises Micron, Suspected of Insider Trading by Aggressively Buying Call Options, White House Stock God Plays Old Trick Again

May 25 — Former U.S. President Donald Trump lavished praise on Micron at a rally in Suffern, New York, on May 22, telling the crowd, “Big company Micron, boy, Micron is great.” Unusual bullish trading activity tied to the chip giant followed shortly after, per market flow tracker Capital Flow. On the afternoon of May 22, multiple traders loaded up on Micron deep out-of-the-money (OTM) call options, with strike prices spanning $750 to $1,400. The contracts’ expiration dates focus on two windows: Jan. 15, 2027 (237 days from the trade date) and July 17, 2026 (55 days out). Between noon and midafternoon that day, at least nine large bullish options orders executed, seven of them clustered between 1:19 p.m. and 1:53 p.m. The most aggressive bet was a $1.4136 million premium call option with a $1,400 strike price, set to expire in January 2027. For this trade to turn a profit, Micron’s shares would need to surge nearly 90% from their current ~$745 level in less than eight months. This is

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