Selected News
Polymarket quietly re-launches U.S. trading platform in Beta mode
“Hakimi” rises over 50% in 24 hours, market cap increases to $25.91 million
Altcoin ETF candidates see a surge in 24-hour trading volume, XRP volume up over 60%
Trending Topics
Source: Overheard on CT (tg: @overheardonct), Kaito
The following is the English translation of the original content:
[HYPERLIQUID]
Hyperliquid became the market focus today due to a significant event: a $3 million withdrawal from OKX was dispersed to 19 wallets to long POPCAT on the platform, ultimately leading to a rapid liquidation resulting in a loss of $4.9 million for HLP. Following the incident, Hyperliquid suspended its cross-chain bridge for maintenance.
Additionally, Hyperliquid launched NVDA-PERP, the first permissionless perpetual contract targeting a single stock in the crypto space, seen as a major innovation. The platform's innovative features and its collaboration with Polymarket on prediction markets have also sparked discussions, highlighting its influence in the crypto ecosystem.
[POPCAT]
POPCAT experienced significant volatility today due to malicious manipulation on Hyperliquid. A trader withdrew $3 million USDC from OKX, dispersed it to 19 wallets, and established a long position of $20 million to $30 million, creating a false buy wall at $0.21. After the buy orders were canceled, the price plummeted, leading to a total liquidation of $63 million and a loss of $4.9 million for HLP. The incident is related to previous manipulative behavior, prompting Hyperliquid to suspend its Arbitrum cross-chain bridge, sparking widespread discussions in the market about high leverage risks and the security of decentralized exchanges.
[POL]
Today's focus of discussion on POL is the integration of Polygon by Calastone, the world's largest fund network, which plans to launch tokenized fund shares for 4,500 financial institutions across 58 markets. This move highlights Polygon's role in on-chain institutional finance, providing faster settlement, lower costs, and greater transparency.
Additionally, Polygon's influence in the Latin American market, stablecoin adoption, and rising transaction fees (indicating increased network activity) are also receiving attention.
[ORD]
ORD is buzzing today about the launch of ZapApp, a self-custodial crypto application based on Solana that supports KYC-free and gas-free transactions. Following the launch of ZapApp, the official issued $DOG tokens as a celebration, igniting market enthusiasm. The application aims to simplify the trading process and challenge traditional exchange models by waiving listing fees, sparking discussions about exchange fairness and the potential disruptiveness of ZapApp.
Featured Articles
Monad's ICO on Coinbase is a hot topic this week. The market is discussing whether participating in the offering at a $2.5 billion FDV is worthwhile, and as Coinbase's first ICO, its "compliance level" has also sparked widespread discussion, being seen as a landmark event for compliance in the crypto space. Stablecoin issuer Circle mentioned in its recently released Q3 report that it is exploring the possibility of issuing a native token on the Arc Network. Coinbase also announced this October, after nearly two years, that it would launch a Base token, as stated by Base chain co-founder Jesse Pollak in an interview. Various signs indicate that asset issuance in the crypto space is entering a new era of compliance.
The long-ambiguous regulatory boundaries for crypto in the U.S. are being redrawn. With Mike Selig nominated as CFTC chairman and Congress advancing new legislation, the division of labor between the SEC and CFTC is beginning to take shape at the policy level, revealing a rare trend of clarity in the regulatory structure: the SEC focuses on securities; the CFTC emphasizes the digital commodity spot market.
On-Chain Data
On-chain capital flow situation for the week of November 13
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