Key Market Intelligence on November 13th, how much did you miss out on?

Featured News

1. Trump Signs Bill, Ending U.S. Government Shutdown

2. Polymarket Quietly Relaunches U.S. Trading Platform in Beta Mode

3. "Hakimi" Surges Over 50% in 24 Hours, Reaching a Market Cap of $25.91 Million

4. Shitcoin ETF Candidate Sees Massive Surge in 24-Hour Trading Volume, XRP Volume Up Over 60%

5. Pre-Market Crypto Concept Stocks in U.S. Rise Across the Board, SharpLink Up 3.28%

Trending Topics

Source: Overheard on CT (tg: @overheardonct), Kaito

Here is the English translation of the original content:

[HYPERLIQUID]
Hyperliquid became the focus of the market today due to a significant event: a $3 million withdrawal from OKX was split among 19 wallets and used to leverage long on POPCAT on the platform. This ultimately led to rapid liquidation resulting in a $4.9 million loss for HLP. Following the event, Hyperliquid paused its cross-chain bridge for maintenance.
Additionally, Hyperliquid launched NVDA-PERP, the first-ever permissionless perpetual contract for an individual stock in the crypto space, seen as a significant innovation. The platform's innovative features and collaboration with Polymarket's prediction markets have also sparked discussions, highlighting its impact in the crypto ecosystem.

[POPCAT]
POPCAT experienced intense fluctuations today, stemming from malicious manipulation on Hyperliquid. A trader withdrew $3 million USDC from OKX, split it among 19 wallets, and established long positions ranging from $20 million to $30 million, creating a false buy wall at $0.21. After the buy wall was removed, the price plummeted, resulting in a total of $63 million in liquidations and a $4.9 million loss for HLP. The event is linked to previous manipulation activities, prompting Hyperliquid to pause the Arbitrum cross-chain bridge and sparking widespread discussions on high leverage risks and the security of decentralized exchanges.

[POL]
Today's POL discussion focuses on the integration of Polygon, a leading global fund network Calastone, aiming to tokenize 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 impact in the Latin American market, stablecoin adoption, and rising transaction fees (indicating increased network activity) are also under scrutiny.

[ORD]
ORD's hot topic today is the launch of ZapApp, a self-custodial crypto app based on Solana that supports KYC-free, gas-free transactions. Following the launch of ZapApp, the official distribution of $DOG tokens as part of the celebration has sparked market enthusiasm. The app aims to streamline the trading process and challenge the traditional exchange model by waiving listing fees, sparking discussions on exchange fairness and the potential disruptive nature of ZapApp.

Featured Articles

1. "A New Era of Token Financing: Milestone in U.S. Compliance Financing"

The upcoming ICO of Monad on Coinbase has been a hot topic this week. Apart from discussions on whether the sale at a $25 billion fully diluted valuation is worth participating in, the "compliance level" as Coinbase's first ICO has also sparked widespread discussions, seen as a landmark event of compliance in the crypto world. Stablecoin issuer Circle mentioned in its recent Q3 financial report that it is exploring the possibility of issuing native tokens on the Arc Network. Coinbase also hinted at launching the Base token in an interview with Jesse Pollak, co-founder of Base Chain, around 2 years after its collaboration. All signs point to a compliant new era in asset issuance in the crypto world.

2. "Major Adjustment in U.S. Crypto Regulation: CFTC May Fully Take Over the Spot Market"

The long-standing ambiguous regulatory boundaries of crypto in the U.S. are being redrawn. With Mike Selig nominated as CFTC chairman and new legislation advancing in Congress, the delineation between the SEC and CFTC is emerging at the policy level for the first time, showing a rare clear trend in regulatory structure: SEC focusing on securities; CFTC focusing on the digital commodity spot market.

On-chain Data

On-chain Fund Flow for the week of November 13