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CryptoQuant: Bitcoin Spot Demand Continues to Shrink; Leveraged Long Positions Exacerbate Market Fragility

CryptoQuant analyst MorenoDV_ pointed out that Bitcoin’s recent price action shows a dangerous divergence: Binance taker buy volume has been declining continuously, hitting a multi-month low—indicating a clear weakening in active buying demand. At the same time, Binance’s funding rate has rebounded into positive territory, suggesting traders are adding long positions via leverage. Historically, rising funding rates alongside shrinking spot demand often signal the market’s entry into a late-stage speculative phase—leverage-driven rallies lacking support from underlying spot capital are structurally fragile. If buying pressure fails to recover meaningfully, the current rise in funding rates may reflect latent risk rather than underlying market strength.

Hyperliquid's largest long position holder is now facing an unrealized loss of $27.92 million on their 120,000 ETH long position

According to on-chain analyst EmberCN's monitoring, as ETH has fallen near the $2,000 mark, the largest long position holder on Hyperliquid is now facing an unrealized loss of $27.92 million on their 120,000 ETH ($2.71 billion) long position. The average entry price for this 120,000 ETH long position is $2,261, and ETH is now approaching a drop below $2,000. The liquidation price for two of the addresses is around $1,750, while the liquidation price for the other two addresses is around $1,350.

Ethereum Layer 2 project Zero Network announces shutdown; multiple protocols cease operations in succession

According to The Block, Ethereum Layer 2 project Zero Network has announced its imminent official shutdown—just about 1.5 years after launch. Launched by the Zerion team in November 2024, Zero Network positioned itself as the first EVM-compatible rollup offering fully gas-free transactions, aiming to lower barriers to entry and drive mainstream adoption. The team stated it will now focus its resources on Zerion’s API and wallet business. Users must bridge their NFTs, ETH, and other tokens out of the Zero Network by the end of July; the bridge’s deposit functionality is currently suspended.

Hyperliquid whale addresses’ long positions in HYPE have increased to approximately $13.85 million in unrealized profit.

According to Hyperinsight monitoring, a whale address on Hyperliquid—previously drawing attention for aggressively going long on HYPE ahead of Robinhood’s listing of the token—has seen its unrealized profit on HYPE long positions increase from $11.8179 million to $13.8535 million, with its return rising from 90.64% to 103.03%. The address currently holds a position size of approximately $67.2274 million, with an average entry price of $38.68; HYPE’s current price stands at $48.71, and its liquidation price is $38.93.

HYPE breaks $48, a major short seller faces an unrealized loss of $1.989 million

according to on-chain analyst Ai Yi's monitoring, the price of HYPE has broken through $48. Since May 15th, the large holder who shorted 375,000 HYPE is now facing an unrealized loss of $1.989 million. The position size is $18.19 million, making it the sixth largest short position in HYPE, with an average entry price of $43.298.

Two wallets opened 10x long positions on PEPE simultaneously, worth approximately $3.37 million.

According to on-chain analytics platform Lookonchain (@lookonchain), two wallets simultaneously opened 10x long positions in PEPE, collectively holding 924.7 million kPEPE, valued at approximately $3.37 million. Their average entry price was around $0.00364, and the 10x long liquidation price is near $0.00328—about 10% below the current price.

A certain whale holds a 5x leveraged long position on HYPE worth $66 million, with floating profits exceeding $12.7 million

According to monitoring by Onchain Lens, a certain whale holds a 5x leveraged long position on HYPE, with a position of 1.38 million tokens. Valued at approximately $48 per token, the position is worth $66 million. The current unrealized profit exceeds $12.7 million, with $2.3 million already paid in funding fees. The entry price is $40.44, and the liquidation price is $37.96.

HYPE Bull vs. Bear Whale Showdown: Two Massive Positions as Counterparties, Over $60 Million Game Enters Critical Phase

that, according to on-chain analyst Ai Yi's monitoring, a large-scale long-short confrontation has emerged in HYPE. The TOP1 and TOP2 whale positions are acting as counterparties to each other, with a total scale exceeding $60 million, as the market enters a critical phase of the game. Details are as follows:Whale Loracle holds a 5x leverage short position of 1.44 million HYPE, valued at approximately $68.43 million, with an entry price of about $42.55. It is currently facing an unrealized loss of roughly $7.004 million.Meanwhile, address 0x082…dca88 holds a 5x leverage long position of 1.38 million HYPE, valued at approximately $65.37 million, with an entry price of about $38.67. It is currently showing an unrealized profit of roughly $11.98 million.

A smart money address purchased 1,344.18 ETH on-chain again 10 hours ago, currently facing an unrealized loss of $165,000.

According to on-chain analyst Ai Aunt (@ai_9684xtpa), a “smart money” address—previously accumulating 11,004 ETH at an average price of $3.45 in 2016 and ultimately realizing $30.38 million in profit—has been aggressively buying ETH on-chain over the past three days. Just 10 hours ago, this address purchased another 1,344.18 ETH (approximately $2.83 million). Its total accumulation over the past three days now stands at 6,627.79 ETH, valued at roughly $14.276 million. The average entry price for this newly accumulated portion is $2,153.95, resulting in a current unrealized loss of approximately $165,000; all on-chain USDC has been fully deployed into this accumulation.

B.AI Officially Integrates with the Solana Ecosystem, Expanding Multi-Chain Coverage to Eight Major Public Blockchains

B.AI has officially integrated into the Solana ecosystem, comprehensively upgrading its cross-chain login and payment capabilities. Users can now log in with one click via MetaMask and Phantom wallets and top up or subscribe using SOL, USDT, USDC, or WBTC on the Solana network. B.AI now supports eight major public blockchains—TRON, BNB Chain, Ethereum, Base, Arbitrum, Optimism, Polygon, and Solana—building a more open and decentralized multi-chain AI economy. New users enjoy an exclusive limited-time welcome offer: 500,000 points upon first login, a 1:1 bonus on top-ups, and up to an additional $100 worth of points per user. Going forward, B.AI will lower entry barriers and expand asset options to help you seamlessly enter the new era of intelligent economics.

“Shorting 300,000 HYPE” — Whale Adds Another 75,000 Tokens, Increasing Position to $16.02 Million

According to on-chain analyst “Aunt Ai,” a major short position holder who initially shorted 300,000 HYPE tokens has added another 75,000 HYPE to their short position tonight. Their current total short position now stands at 375,033 HYPE, valued at $16.02 million, with an average entry price of $43.298 per token and a floating profit of $225,000.

An ETH bull is holding a $186 million position, currently facing a $2.9 million unrealized loss.

According to on-chain analyst Ai Aunt (@ai_9684xtpa), a “die-hard bullish trader” has been long 80,000 ETH since April 30 from two addresses, with an average entry price of approximately $2,265 per ETH, resulting in a position value of $186 million—without any reduction in exposure throughout this period. As BTC dropped below $80,000, this position re-entered negative territory, currently showing a floating loss of about $2.9 million; at the market peak on May 11, however, the position had achieved a floating profit exceeding $8 million.

A whale transferred 8.826 million USDC to Hyperliquid, opening a $7 million short position on HYPE

that, according to on-chain analyst Ember Monitoring, following news that the CME and the New York Stock Exchange have jointly pushed US regulators to strengthen oversight of Hyperliquid, HYPE has retraced 4% from $45 to $43. An address named asssdfc transferred 8.826 million USDC to Hyperliquid 20 minutes ago after the news broke to short HYPE. It has already opened a $7 million short position on HYPE with an entry price of $43.1 and is still increasing its short position.

B.AI has fully integrated with China’s mainstream payment systems, including WeChat Pay, Alipay, and UnionPay.

B.AI has announced full integration with China’s mainstream payment systems—WeChat Pay, Alipay, and UnionPay—are now available to users. Starting today, users can complete the entire workflow—including account top-ups, AI service subscriptions, and invocation of top-tier AI models and Agent services—in their familiar payment environment. This payment upgrade lowers the barrier to entry, enabling individual developers and enterprise customers to more easily access cutting-edge AI capabilities, resulting in a smoother, more natural, and localized user experience. Going forward, B.AI will continue optimizing its product experience, striving to embed smarter, more efficient AI services seamlessly into everyone’s daily work and life.

HYPE's top long position with 5x leverage sees floating profit exceed $10.21 million

that, according to on-chain analyst Ai Yi's monitoring, address 0x082…dca88 opened a long position of 1.38 million HYPE (worth $63.47 million) with 5x leverage at an entry price of $38.676. This position nearly gave back all profits when the HYPE price dropped to around $38, but has now recovered to a floating profit of over $10.21 million.

Hyperliquid's largest ETH long position increased to 108,000 ETH

Odaily reports, according to on-chain analyst Yu Jin, ETH price has fallen back near the average entry price of Hyperliquid's largest long position, with the trader's floating profit of approximately $10 million having essentially been erased.After the price approached the cost basis, the trader slightly increased the position by 9,000 ETH. The total ETH position now stands at 108,000 ETH, valued at $245 million, with an average entry price of $2,271.

TD Cowen Reiterates Sharplink "Buy" Rating: Maintains $16 Price Target, Sees 106% Upside

Odaily Investment bank TD Cowen reiterated its "Buy" rating on Sharplink following its Q1 earnings report, maintaining a $16 price target, implying approximately 106% upside from the current share price of $7.76.Sharplink's Q1 revenue exceeded $12 million. The company also announced the establishment of an approximately $125 million income fund in partnership with Galaxy Digital, with Sharplink contributing roughly $100 million. The fund will focus on DeFi and liquidity yield opportunities, targeting returns higher than base staking yields.The analyst team believes the current share price is in a "favorable entry window," driven primarily by a persistent NAV discount and expanding Ethereum demand. Sharplink currently holds approximately 873,000 ETH (about $2 billion), translating to a net asset value (NAV) of roughly $9.68 per share, while the stock still trades at about a 20% discount to NAV. TD Cowen noted that the Galaxy partnership strengthens Sharplink's yield strategy, allowing it to maintain ETH exposure while improving capital efficiency through institutional-grade DeFi opportunities. (The Block)

A whale spent $325,000 to buy Sato, with an average market cap of $28.4 million at entry

According to Odaily monitoring, a whale began accumulating Sato three hours ago, purchasing a total of $325,000 worth at an average market cap of $28.4 million, currently showing an unrealized profit of $32,000.

A certain address has accumulated a floating loss of nearly $10.14 million from long positions in crude oil.

According to on-chain analyst Ai Aunt (@ai9684xtpa), the address 0xebe...14070 has accumulated long positions totaling $55.36 million in crude oil assets, involving $CL and $BRENTOIL, with entry prices of $107.1 and $112.4, respectively. Today, this address partially closed positions to stop losses, realizing a loss of $586,000. It currently holds an unrealized loss of nearly $10.14 million and has paid approximately $93,000 in funding fees.

An address holding SKYAI made a profit of over $450,000 in one month, with the remaining position worth approximately $125,000

According to monitoring by crypto analyst Ember (@EmberCN), SKYAI's price has risen from $0.073 to $0.8 over the past month, representing an increase of approximately 10 times. An address spent 49,000 USDT to purchase 1.032 million SKYAI in June last year, with an entry price of approximately $0.048.Following the recent surge in SKYAI, this address has sold 873,000 SKYAI in the past few days, with a transaction value of approximately $372,000 and an average selling price of about $0.426. Currently, it still holds 158,000 SKYAI, valued at approximately $125,000.