Gold rose to a file excessive of over $3,500 per ounce early Tuesday as bitcoin continued to commerce in a lackluster trend.
Knowledge tracked by Lookonchain confirmed {that a} whale deal with 0xFf15 offloaded 425 BTC, price $46.5 million, in alternate for over 10,500 ETH prior to now 4 days.
In the meantime, Glassnode mentioned that long-term holders have stepped up profit-taking, spending 97,000 BTC on Friday.
Derivatives Positioning
By Omkar Godbole
- Crypto futures bets price $370 million have been liquidated by exchanges prior to now 24 hours because the bitcoin worth bounced, confounding expectations for a transfer decrease.
- The liquidation led to a decline in open curiosity (OI) in futures tied to a lot of the high 10 tokens, excluding BTC. Open curiosity in BTC elevated by over 1%, an indication of recent capital inflows.
- XRP printed a “spinning backside” candle on Monday, hinting at a possible bull reversal. Nonetheless, OI in USD and USDt-denominated perpetuals on main exchanges fell by 5.69% alongside anemic spot buying and selling quantity. The motion weakens the case for a sustained restoration.
- Perpetual funding charges on an eight-hour foundation for BTC, ETH, and different main cryptocurrencies are hovering simply above zero, indicating a slight bias towards longs.
- On the CME, positioning in BTC futures stays mild, alongside a near-record OI of two million ETH in ether futures.
- On Deribit, BTC choices mirror draw back issues, with places buying and selling at a premium to calls out to December expiry. Ether choices additionally exhibit a put bias, however not as pronounced as these of BTC. Choices tied to SOL and XRP sign stronger demand for upside publicity.
- BTC block flows have been barely bearish, with merchants choosing up the September expiry $105K put and writing the $135K name within the October expiry, alongside put calendar spreads. In ETH’s case, places at $3,800 and $4,200 had been lifted.
Token Speak
By Shaurya Malwa
- World Liberty Monetary (WLFI), the Trump-affiliated DeFi undertaking, is floating a buyback-and-burn program to shore up confidence after its rocky launch.
- Underneath the proposal, charges from WLFI’s liquidity positions on Ethereum, Binance Sensible Chain and Solana can be used to purchase tokens on the open market and completely burn them.
- The design shifts the token’s framing from oversupply to engineered shortage. Extra buying and selling quantity equals extra charges, which in flip fuels extra burns.
- Crew members say it aligns long-term holders with protocol progress, although skeptics name it optics over substance.
- WLFI trades at 23 cents with a $6.39 billion market cap, down 24% on the day and much under the futures-market valuations above $40 billion seen at launch.
- A community-backed governance proposal can also be circulating to stake 80% of WLFI’s locked provide into swimming pools, with rewards drawn from a 20% neighborhood reserve. Proponents say it turns idle tokens into productive property; critics say it is token recycling.
- WLFI’s debut has been marred by safety points. Hackers exploited Ethereum’s EIP-7702 “delegate contract” characteristic to empty tokens from unsuspecting wallets in what safety researchers known as a phishing-style exploit.
- Victims describe shedding most of their allocations. One investor mentioned they salvaged solely 20% of their holdings earlier than attackers siphoned the remaining.
- SlowMist founder Yu Xian warned the exploit triggers as quickly as compromised customers try transfers, redirecting funds to attacker wallets.
- Scams multiplied alongside the exploit: Bubblemaps flagged WLFI “bundled clones,” whereas phishing hyperlinks unfold throughout Telegram and X, additional trapping early retail consumers.
- The twin shock of worth collapse and technical exploits underscores WLFI’s fragile launch dynamics, with insider-driven provide, governance controversies and exterior safety dangers converging to check the undertaking’s viability.