Machi Big Brother exits $25M HYPE bet at $4M loss as rivals eat Hyperliquid market share

Aster, a new decentralized exchange for on-chain perpetuals founded by former Binance CEO Changpeng Zhao, has achieved a significant milestone by surpassing Hyperliquid in daily trading volume. On September 23, Aster reported over $12 billion in contracts traded in just one day, marking a notable success for the platform. This achievement not only highlights Aster's growing influence in the decentralized finance space but also reflects the increasing interest in on-chain trading solutions.

Hyperliquid, a decentralized exchange platform, is considering a significant change to its tokenomics by proposing a 45% reduction in the total supply of its HYPE token. This plan, introduced by investment manager Jon Charbonneau and researcher Hasu, aims to address concerns about current valuation metrics that may be distorting the protocol's financial health. This move is crucial as it could stabilize the market and restore confidence among investors amid fears of a $12 billion unlock.

Hyperliquid's recent price drop of 21% from its peak has raised concerns, but a new proposal to reduce its total supply by 45% could be a game changer. This move aims to reset valuations and potentially attract renewed interest from institutional investors. As Hyperliquid trades at $47.73, the community's proactive approach could lead to a stronger market position and increased demand, making it a significant development in the cryptocurrency landscape.

Aster has just launched 300x leverage trading for its native token, HYPE, marking a significant advancement in the multichain perpetual exchange space. This move is exciting for traders looking to maximize their potential returns, as such high leverage can amplify profits. However, it also comes with increased risks, making it essential for participants to approach this opportunity with caution. The introduction of this feature could attract more users to the platform, enhancing its competitiveness in the rapidly evolving crypto market.

In a surprising turn of events, HYPE's price has dropped by 10% after Arthur Hayes sold $800,000 worth of Hyperliquid tokens to purchase a Ferrari. This move has raised eyebrows in the crypto community, especially as the market structure remains bullish. It highlights the volatility and unpredictability of cryptocurrency investments, reminding investors to stay cautious even in seemingly positive market conditions.

Arthur Hayes, the chief investment officer at Maelstrom and co-founder of BitMEX, recently sold 96,600 Hyperliquid (HYPE) tokens for about $5.1 million, raising eyebrows just weeks after he expressed optimism about the asset. This sudden sell-off has sparked concerns in the crypto community regarding the stability of Hyperliquid, a decentralized exchange platform. Hayes' actions could indicate a lack of confidence in the platform's future, which is significant as it may influence other investors' perceptions and decisions in the volatile cryptocurrency market.

In a significant move, a major player in the cryptocurrency market, known as a whale, has withdrawn $122 million worth of HYPE tokens after holding them for nine months, realizing an impressive profit of around $90 million. This event highlights the dynamic nature of the crypto market and the potential for substantial gains, drawing attention to the strategies employed by large investors like Arthur Hayes. Such withdrawals can influence market trends and investor sentiment, making it a noteworthy development for both seasoned traders and newcomers.

Arthur Hayes, the co-founder of BitMEX, has sold all his HYPE tokens, which he previously predicted could soar 126 times in value, to fund a Ferrari Testarossa. This move raises eyebrows in the trading community, as it suggests a lack of confidence in his own predictions. Traders might be concerned about the implications of such a high-profile exit from a cryptocurrency, questioning the future of Hyperliquid and the stability of the market.

Maelstrom Fund, led by Arthur Hayes, has issued a warning regarding the HYPE token from Hyperliquid, indicating that it may face significant pressure due to an upcoming monthly supply overhang of $410 million linked to its vesting schedule. This situation is crucial for investors as it could impact the token's market performance and overall investor confidence in the cryptocurrency space.

OKX CEO Star Xu has highlighted the impressive achievements of Hyperliquid, a platform that has demonstrated that on-chain perpetual trading can flourish even with a small team. This is significant as it showcases the potential for innovation and efficiency in the cryptocurrency space, suggesting that smaller companies can compete effectively against larger players.

Aster has achieved a remarkable milestone by surpassing $700 million in 24-hour DEX perpetual volume on Hyperliquid, showcasing a significant surge in both institutional and retail interest in crypto derivatives. This development is important as it indicates a growing shift towards decentralized finance, reflecting the evolving landscape of the cryptocurrency market.

The REXShares Solana Staking ETF has seen a significant boost with a $27 million inflow, bringing its total assets under management to $306 million. This surge reflects the growing interest in cryptocurrency ETFs and staking, highlighting a positive trend in the market. As more investors look to diversify their portfolios with crypto assets, this ETF's growth is a promising sign for the future of digital finance.

Smart Digital Group has announced an exciting plan to create a diversified cryptocurrency asset pool, which could play a crucial role in stabilizing the markets. This initiative is expected to attract more traditional investors, potentially leading to significant growth in the overall cryptocurrency market. As institutional adoption increases, it may pave the way for a more robust and resilient financial ecosystem.

Bitcoin is currently facing challenges as it hovers around the $113,000 mark, with traders setting new price bottom targets amid fluctuating market conditions. The recent dovish remarks from Fed's Bowman regarding potential rate cuts have not provided much support for bullish traders, highlighting the ongoing uncertainty in the cryptocurrency market. This situation is significant as it reflects the broader economic influences on digital currencies and the cautious sentiment among investors.

Today's crypto news highlights the latest trends and events affecting Bitcoin prices and the broader cryptocurrency landscape, including blockchain developments, DeFi innovations, NFT updates, and regulatory changes. Staying informed is crucial for investors and enthusiasts alike, as these factors can significantly influence market dynamics.

Aster, a new decentralized exchange for on-chain perpetuals founded by former Binance CEO Changpeng Zhao, has achieved a significant milestone by surpassing Hyperliquid in daily trading volume. On September 23, Aster reported over $12 billion in contracts traded in just one day, marking a notable success for the platform. This achievement not only highlights Aster's growing influence in the decentralized finance space but also reflects the increasing interest in on-chain trading solutions.

BlackRock is making waves in the financial world, raking in an impressive $260 million annually from its Bitcoin and Ether ETFs. This significant revenue not only highlights the growing interest in cryptocurrency investments but also positions BlackRock as a leader in the traditional finance sector's adoption of digital assets. As more investors look to diversify their portfolios with cryptocurrencies, BlackRock's success could set a new benchmark for the industry.