Are Whales Betting on a Major December Shake-Up? Bitcoin $200,000 Call Open Interest Reveals Undercurrents
Bitcoin's recent market volatility has drawn significant attention. While it was widely believed that ETFs had tamed Bitcoin's volatility, data from the past 60 days shows its implied volatility (IV) has experienced its first notable rise in 2025. Interestingly, volatility continued to climb even during price declines, potentially signaling a return to pre-ETF volatility regimes. Shift in Volatility Trend The Bitcoin Volatility Index recently rose to around 125. The typical positive correlati...
Are Whales Betting on a Major December Shake-Up? Bitcoin $200,000 Call Open Interest Reveals Undercurrents
Bitcoin's recent market volatility has drawn significant attention. While it was widely believed that ETFs had tamed Bitcoin's volatility, data from the past 60 days shows its implied volatility (IV) has experienced its first notable rise in 2025. Interestingly, volatility continued to climb even during price declines, potentially signaling a return to pre-ETF volatility regimes. Shift in Volatility Trend The Bitcoin Volatility Index recently rose to around 125. The typical positive correlati...
USDe Supply Plummets by $6.5 Billion as Ethena Faces Liquidity Crisis and Trust Test
Massive Capital Outflow Ethena's stablecoin USDe has seen its circulating supply drop sharply from 14.8 billion tokens in early October to approximately 8.395 billion, a reduction of $6.5 billion. This significant decline has sparked widespread market concern. Security Concerns and Transparency Despite recent turmoil involving stablecoin projects with similar strategies, Ethena maintains relatively transparent reserve disclosures and position reporting. Its primary hedging assets—BTC, ETH, an...
USDe Supply Plummets by $6.5 Billion as Ethena Faces Liquidity Crisis and Trust Test
Massive Capital Outflow Ethena's stablecoin USDe has seen its circulating supply drop sharply from 14.8 billion tokens in early October to approximately 8.395 billion, a reduction of $6.5 billion. This significant decline has sparked widespread market concern. Security Concerns and Transparency Despite recent turmoil involving stablecoin projects with similar strategies, Ethena maintains relatively transparent reserve disclosures and position reporting. Its primary hedging assets—BTC, ETH, an...
x402 Looks Great—Until You Look Under the Hood
Prologue: The 30-Year-Old Mistake We Are Still Paying For In 1994 Marc Andreessen made the error he later called “the biggest regret of my life”: shipping Netscape without native payments. Regulatory panic and bank conservatism killed the Navigator-Visa alliance; Microsoft’s Mastercard deal died the same quarter. The vacuum was filled by the only model left—surveillance advertising. Thirty trillion dollars of value have since been extracted not from direct exchange, but from selling human att...
x402 Looks Great—Until You Look Under the Hood
Prologue: The 30-Year-Old Mistake We Are Still Paying For In 1994 Marc Andreessen made the error he later called “the biggest regret of my life”: shipping Netscape without native payments. Regulatory panic and bank conservatism killed the Navigator-Visa alliance; Microsoft’s Mastercard deal died the same quarter. The vacuum was filled by the only model left—surveillance advertising. Thirty trillion dollars of value have since been extracted not from direct exchange, but from selling human att...
Nvidia's Market Cap Hits $5 Trillion, While Crypto Market Falters
Last night, the U.S. stock market witnessed a historic moment as tech giant Nvidia’s market capitalization surpassed $5 trillion, writing a legendary chapter in capital markets. Yet, this very moment left the crypto community utterly "broken." While gold and stocks are dancing together on the global capital stage, the crypto market is mired in pessimism. Generating profits has become increasingly difficult, and returns have significantly underperformed traditional assets. Bitcoin briefly touc...
Nvidia's Market Cap Hits $5 Trillion, While Crypto Market Falters
Last night, the U.S. stock market witnessed a historic moment as tech giant Nvidia’s market capitalization surpassed $5 trillion, writing a legendary chapter in capital markets. Yet, this very moment left the crypto community utterly "broken." While gold and stocks are dancing together on the global capital stage, the crypto market is mired in pessimism. Generating profits has become increasingly difficult, and returns have significantly underperformed traditional assets. Bitcoin briefly touc...
From Zero to $5 M: How We Minted Money Arbitraging Hyperliquid vs. HyperEVM
The 2-Second Window That Paid 7 Figures HyperEVM blocks tick every 2 s; Hyperliquid spot ticks every 250 ms. That 1.75 s delta is the world’s simplest edge: HYPE can print “stale” on-chain while the off-chain order-book has already moved. We turned the gap into a 24/7 assembly line: buy the lag, sell the real price, hedge flat, repeat.Week 0 – MVP in 48 hOne Python loop, two RPC endpoints.Trigger: 15 bp spread after fees.First day: 200 k USD volume, +400 USD PnL.Two competitors showed up; we ...
From Zero to $5 M: How We Minted Money Arbitraging Hyperliquid vs. HyperEVM
The 2-Second Window That Paid 7 Figures HyperEVM blocks tick every 2 s; Hyperliquid spot ticks every 250 ms. That 1.75 s delta is the world’s simplest edge: HYPE can print “stale” on-chain while the off-chain order-book has already moved. We turned the gap into a 24/7 assembly line: buy the lag, sell the real price, hedge flat, repeat.Week 0 – MVP in 48 hOne Python loop, two RPC endpoints.Trigger: 15 bp spread after fees.First day: 200 k USD volume, +400 USD PnL.Two competitors showed up; we ...
