NullWhisperer

As of December 29, the total global Bitcoin holdings exceeded 40.3 million BTC, distributed across approximately 360 entities, with a total value of nearly $352.3 billion. This demonstrates a clear top-tier concentration and also reflects Bitcoin's position as the largest market cap in digital assets, which is significant for market participants assessing capital flows.

【Blockchain Rhythm】A long-term BTC holder has recently attracted market attention. According to on-chain data monitoring, this whale currently holds a total long position of $740 million across the three major cryptocurrencies: BTC, ETH, and SOL.
The unrealized loss continues to widen. Currently, the total loss has reached $54.5 million, and the funding fee expenditure is as high as $3.2842 million. However, when the market rose yesterday, the unrealized loss temporarily narrowed to $25 million, demonstrating the sensitivity of this position.
Regarding the specific position distribution: ETH has the largest position, with a long of $594.75 million, an opening average price of $3,147.39, and a current loss of $45.2 million; BTC holds $87.38 million, with an opening price of $91,506.7, and an unrealized loss of $4.13 million; SOL has a long position of $62.82 million, with an opening price of $130.19, and a current unrealized loss of $3.78 million.
This kind of whale's move of a single...

【Crypto World】Recently, the overall market performance has been lackluster, but a closer look reveals that some emerging tracks such as derivatives DEXs, prediction markets, and others still maintain high enthusiasm.
Let's start with derivatives DEXs. The growth of Hyperliquid has already proven that on-chain contract trading truly meets real user demand. This track is definitely not a winner-takes-all situation. Among the current players, Lighter has recently attracted a lot of attention. Although there have been some controversies recently due to issues like witch detection, airdrop rules, and token launch timing, from the perspectives of product experience, team composition, and backing investors, it still has clear competitiveness. Especially with its zero-fee model, combined with liquidity support for forex and commodities, it’s quite unique. The details of the token have not been disclosed yet. If the airdrop scale is indeed large, there might be some initial selling pressure, but in the long run, it should gradually stabilize.

In 2025, North Korean hackers stole over $2.17 billion in crypto assets, with nearly $1.5 billion coming from an exchange attack, setting a record. The hacker group Lazarus is becoming increasingly cunning, and security experts are calling for the global blockchain industry to strengthen defenses to prevent further attacks.

【BlockBeats】The logic of Bitcoin's absorption is undergoing a fundamental change.
Looking back at past bull markets, the upward trajectory was quite straightforward: geeks discover opportunities → programmers enter the market → retail investors follow suit → mainstream finance takes over. Behind each wave of gains, it’s essentially a process of cognition gradually spreading and faith continuously expanding.
But after 2024, the landscape has completely changed. ETF approvals and large institutional entries—these changes may seem simple, but in fact, they reshape the entire supply and demand ecosystem of BTC. Now, some Bitcoin is slowly settling, becoming a long-term asset that avoids short-term trading and swing trading. This process is similar to gold flowing into central bank systems—once the chips are locked in long-term, sellers willing to frequently sell on the market will become increasingly scarce.
When supply tightens to a certain extent, price increases no longer rely on new stories and beliefs. The driving force shifts from "telling new narratives and attracting newcomers" to "controlling"

Industry reports indicate that by 2026, the digital asset market will make significant progress in areas such as AI autonomous decision-making, asset tokenization, and stablecoin infrastructure. Hong Kong is actively promoting relevant compliance standards, and the global market liquidity is recovering, with funds concentrating on core assets. Meanwhile, regulatory and technological innovation have become new industry focal points, with market attention shifting from speculation to systems and sustainable development.

A whale wallet "0xA71d" recently deposited 1.81 million USDC into HyperLiquid and opened a long position of 500,000 LIT, indicating the large holder's view on the short-term trend of LIT. Such leverage operations show that whales are actively positioning, which is worth market attention.

In the past 8 hours, a key bullish player increased their HYPE position to 13,888.88 tokens, worth approximately $351,900, despite an unrealized loss of $8,021. He also holds 8,200 ETH, valued at nearly $24.12 million, with an unrealized loss of $246,200, demonstrating a firm market outlook. This reflects the influence of large funds on market sentiment.

[Crypto World] The Bitcoin mining market has been quite turbulent lately. An investment report recently downgraded the rating of a well-known mining company — although it still maintains a "Buy" stance, the target price was lowered from $24 to $20. The reason is straightforward: intense mining competition and sustained pressure on Bitcoin prices make life difficult for miners.
However, this company is a bit different. They recently shifted focus to the high-performance computing (HPC) sector, and this move has proven effective. The Q3 2025 financial report shows revenue of $50.6 million, a 6% quarter-over-quarter increase, with HPC leasing income reaching $7.2 million. Interestingly, although Bitcoin production decreased by 22% to only 377 coins, the adjusted EBITDA actually grew by 25%, reaching $18.1 million — indicating that the increased revenue has indeed offset the impact of the production decline.
In terms of financing, the company has secured over $4.2 billion in support, and

Lighter's founder introduced their anti-cheating measures, which use data science and clustering analysis to identify violating accounts and reallocate points. A dispute mechanism is also in place to handle false positives. The algorithm is not公开 to prevent cheating. The project's goal is to accumulate token value and avoid dual tokens or equity structures.

Recently, US economic data has shown significant improvement: the trade deficit decreased by 60%, GDP growth rate reached 4.3%, and inflation remained stable. This provides traders with a better market environment, which typically attracts more liquidity and creates opportunities in commodities and emerging assets. Continued observation of policy implementation effects is necessary.

LayerZero community's recent vote did not pass due to insufficient participation, failing to decide whether to activate the protocol fee mechanism. The next vote will be held in 6 months, and discussions will continue. If the fee mechanism is activated, the fees will be converted into ZRO tokens and burned, potentially increasing its scarcity.