Whale deposits 654,288 $UNI ($5.96M) into Coinbase Prime, realizes $1.27M profit

According to GMGN market data, Solana ecosystem tokens are seeing broad declines. Specifically: Super Inu (SI) has fallen over 49% in the past 24 hours, with a current market capitalization of $18.5 million; e/acc is down more than 46% over the same period, at a market cap of $6.9 million; Agency has dropped over 34% in 24 hours, with a market cap of $7.23 million; ANSEM is down over 13% in 24 hours, currently valued at $153 million; STONK has fallen more than 7% in the past day, with a market capitalization of $161 million.

According to monitoring by Onchain Lens, a wallet once again purchased and withdrew 54,020 HYPE tokens via Coinbase Prime, worth roughly $5.13 million. Over the past month, this wallet has added a total of 158,780 HYPE tokens to its holdings, valued at approximately $13.08 million.

A newly created wallet, t1Sj6J, withdrew 7,166 $ZEC ($9.67M) from #Coinbase over the past 12 hours.

Crypto trader Ansem stated in a post that drawing direct parallels between this crypto cycle and the market performance of 2020, 2023, or 2024 has limited reference value. For him, the closest parallel to the current environment is the DeFi expansion of 2020–2021, when an entirely new sector brought tens of billions of dollars in capital on-chain. In this cycle, stablecoins—particularly tokenized equities—are opening up new markets while attracting retail investors, institutions, and developers. New sectors will bring fresh capital flows, products, and substantial speculative activity, which forms the framework he is using to analyze the current cycle.

According to Lookonchain's monitoring, a newly created wallet t1Sj6J withdrew 7,166 ZEC from Coinbase over the past 12 hours, valued at around $9.67 million.

According to CNBC, U.S. Democratic Representative Don Davis of North Carolina introduced the "Ban on Betting on Your Own Election Act" on Monday, which proposes to ban federal public office candidates from trading contracts related to their own elections on prediction markets. Violators will face a fine of $10,000 or three times the net profit from the trade, whichever is higher. The proposal stems from Davis' Republican election opponent Laurie Buckhout, who was previously penalized by prediction market platform Kalshi. Buckhout reached a settlement with the platform in August for trading contracts related to her own candidacy, paying a fine of just under $2,600 and being suspended from Kalshi for three years. She said at the time: "I bet on myself, that's exactly what I did. That was a stupid mistake." Prediction market platforms had previously already imposed self-restrictions on candidates trading contracts related to their own elections to guard against insider trading. Davis hopes to formalize these relevant restrictions into law. However, both the House of Representatives and the Senate are scheduled to resume sessions only after the midterm elections, so the bill is almost impossible to implement during this election cycle. The Senate passed a resolution in April banning senators and their staff from participating in prediction market trading, but it did not cover non-incumbent senatorial candidates.