đ CMC Market Pulse: Debasement Hedge Was a Meme All Along
BTC -8.19%, ETH -8.16%
$2.80T market cap. Nearly $2B in long liquidations as risk goes fully off.
Equities and metals climb while crypto keeps bleeding, except HYPE.
Letâs break down this weekâs top crypto narratives đ§”
1/6
đ Market Overview
đč Crypto market cap down 7.28% to $2.80T. BTC -8.19%, ETH -8.16%.
đč Late week selloff triggers almost $2B in long liquidations.
đč Funding rates slide further, several majors flip negative.
đč Strategy buys 2,932 BTC for $264.1M, total holdings now 712,647 BTC.
đč Fidelity announces plans for FIDD, a fully reserved stablecoin.
đč Japan FSA targets 2028 launch for spot crypto ETFs.
đč TradFi holds up better, S&P +0.86%, Nasdaq +1.5%.
2/6
đ° Narrative of the Week: Hyperliquid Defies the Market
đč HYPE surges over 60% in a single week despite broad market weakness.
đč HIP-3 open interest hits an all time high of $790M driven by commodities trading.
đč Large holder selling pressure fades while Hyperliquid Strategies accumulates HYPE.
đč Kraken lists HYPE and Coinbase adds it to the roadmap.
Hyperliquid once again stands out as the strongest cult driven trade in crypto.
3/6
đïž Major Project Updates:
đč Ethereum forms a Post Quantum team to address long term cryptographic risks.
đč Tether launches USAâź, a federally regulated stablecoin for the US market.
đč Robinhood announces plans for 24/7 trading with tokenized stocks and DeFi features.
đč Ethereum confirms the imminent launch of ERC 8004 for AI to AI interactions on chain.
đč EigenCloud releases the EigenAI whitepaper outlining optimistic verification for AI outputs.
4/6
đŠ DeFi Brief:
đč Pendle introduces AIM, dynamically allocating emissions based on real contribution.
đč Theo Network launches thGOLD, a yield bearing gold exposed asset earning 2%.
đč SwapNet router exploited for $17M, contracts paused and users urged to revoke approvals.
