A Whale Faces Another Liquidation of 10,117 ETH, Bringing Total Liquidations Since Last Night to 31,915 ETH

June 6 – According to the Chinese official outlet Procuratorial Daily, three individuals named Lin, Zeng, and Dai conspired to use cryptocurrency transactions as a cover for theft. Their scheme: they secretly recorded a victim’s digital wallet private key during a transaction, then logged into the victim’s wallet to reverse the transfer once the cryptocurrency was received, moving the funds back to accounts they controlled. The trio pulled off this scam three times, causing the victim to lose a total of 660,000 RMB. The first-instance court in Wuhan initially ruled against using the victim’s 660,000 RMB loss to label the case as involving an “especially large financial amount,” citing a lack of clear judicial interpretations for cryptocurrency valuation and sentencing standards. Instead, the court convicted the three under the legal category of “other serious circumstances,” sentencing them to prison terms ranging from five and a half to eight years, plus fines. The Han Yang Dist

June 6 — According to Onchain Lens, the whale known as "7 Siblings" has once again dropped $18.03 million to buy 11,759 ETH. The whale currently holds 10 million USDC, giving it ample capital to continue purchasing ETH. There’s a strong possibility this whale may even leverage up to scoop up more ETH in the coming days.

On June 6th, per monitoring from LookOnChain, a wallet associated with F2Pool co-founder Wang Chun withdrew 17,560 ETH from Binance over the past 16 hours, valued at roughly $28.67 million.

As of June 6, CoinGecko data shows Ethereum’s market cap has fallen to $182.7 billion, slipping below USDT’s $187.0 billion. This has pushed Ethereum into the No. 3 spot in global cryptocurrency market cap rankings.

June 6, per HTX market data, Bitcoin is currently trading at $59,769.84, marking a 5.20% 24-hour decline that pushed it below the $60,000 threshold. Ethereum stands at $1,524.44, down 11.87% over the same period. Data from leading centralized exchanges (CEX) shows both BTC and ETH have firmly entered bearish territory, with Ethereum’s negative funding rate depth expanding far more sharply than Bitcoin’s. On the BTC side, funding rates across all platforms are below 0.005%, signaling a broad bearish trend and near-total absence of bullish momentum. For ETH, bearish signals are even more prominent: funding rates on every platform have turned negative, meaning short positions are paying substantial fees to long holders—clear proof of stronger bearish sentiment compared to Bitcoin. BlockBeats Note: Funding rates are exchange mechanisms for perpetual contracts, designed to align contract prices with their underlying asset values. This is a fund exchange between long and short traders (exc

June 6 update: Per monitoring by LookOnChain, a wallet tied to Ethereum co-founder Joseph Lubin moved 80,001 ETH after more than three years of inactivity, with the transfer valued at roughly $121.6 million. The wallet held a total of 243,300 ETH, worth around $370 million at the time.