Hyperliquid’s move to replace USDC with its native stablecoin USDH has sparked a competitive bidding war among eight major organizations including Paxos, Ethena, Agora, and newcomer Native Markets. Native Markets has emerged as the Polymarket favorite with 84% odds, proposing a hybrid reserve model managed by BlackRock and Stripe-owned Bridge. However, concerns have been raised about potential conflicts with Stripe’s own blockchain plans. Meanwhile, established players like Paxos have strengthened their proposals, with Paxos announcing a revised partnership with PayPal that could bring 400M+ users to Hyperliquid. Validators will ultimately decide which proposal best serves the ecosystem’s long-term interests, with the decision carrying significant implications for Hyperliquid’s growth and institutional adoption.
about Hyperliquid's USDH Stablecoin Race Heats UpAlex Svanevik
0 posts last weekWLFI Token Rebounds 4% After Justin Sun’s $100M Holdings Frozen
World Liberty Financial’s WLFI token experienced a 4% price recovery to $0.18754 after the project blocklisted Justin Sun’s wallet containing 595.109 million tokens worth $104 million. The team alleged Sun-connected exchanges were using customer tokens to suppress WLFI’s price, though these claims remain unconfirmed. Sun condemned the freeze as ‘unilateral’ and ‘unreasonable,’ asserting it violated blockchain’s fundamental values. Despite adding $500 million to market cap and boosting open interest by 50% to $7.2 billion, the token remains 70% down from its September 1 launch, with traders losing $17 million due to extreme volatility. Industry figures including Nansen’s CEO have questioned the timing of Sun’s transactions relative to the price decline.
about WLFI Token Rebounds 4% After Justin Sun's $100M Holdings FrozenTokenization’s Real Impact in Private Markets
Tokenization, often associated with public equities, is finding its true transformative potential in private markets, according to Alex Svanevik, CEO of Nansen. While tokenizing public stocks offers marginal benefits like fractional ownership and round-the-clock trading, private markets stand to gain significantly more from blockchain technology. These markets, traditionally illiquid and exclusive, can achieve greater accessibility, efficiency, and inclusion through tokenization, far surpassing the incremental improvements seen in public equities. Svanevik highlights that the real revolution lies beyond public markets, where blockchain can address deeper inefficiencies and unlock new opportunities.
about Tokenization's Real Impact in Private MarketsSharpLink Buys $48.85M in Ethereum, Strengthens Treasury
SharpLink Gaming (SBET) has acquired an additional 16,374 ETH worth $48.85 million, building on its recent $63.7 million Ethereum purchase. The Nasdaq-listed company, pivoting from affiliate marketing to crypto reserves under Ethereum co-founder Joe Lubin’s leadership, now holds $648 million in ETH—second only to the Ethereum Foundation. SharpLink’s shares surged 71% over the past week as it positions itself as a long-term Ethereum steward, staking and restaking ETH to reduce circulating supply. While Ethereum prices recently reclaimed $3,000, the asset still trails Bitcoin in institutional adoption. Large OTC purchases like SharpLink’s have drawn attention, with Nansen’s CEO noting their impact on market dynamics.
about SharpLink Buys $48.85M in Ethereum, Strengthens TreasurySharpLink Acquires $30M Ethereum from Ethereum Foundation
SharpLink Gaming’s shares soared 71% after announcing a $30 million Ethereum acquisition from the Ethereum Foundation via an over-the-counter (OTC) sale. The deal, involving 10,000 ETH at roughly $2,600 per coin, avoids secondary market pressure. SharpLink, now one of the largest Ethereum holders with 215,000 ETH ($644M), is shifting from sports gambling to crypto treasury growth under Ethereum co-founder Joe Lubin. The Ethereum Foundation’s $100M budget and funding strategies face scrutiny, but OTC sales mitigate price impact. SharpLink and peers like BitMine plan to leverage DeFi and staking to grow assets, though its stock remains below its 2021 peak.
about SharpLink Acquires $30M Ethereum from Ethereum FoundationEthereum’s Dominance Wanes as L1 Blockchains Race for Lead
Nansen CEO Alex Svanevik declared an ‘open race’ for leadership among layer-1 (L1) blockchain networks, noting Ethereum’s declining dominance in Web3. While Ethereum remains the most popular L1 with $52 billion in total value locked (TVL)—51% of all crypto on blockchains—its position is no longer unassailable. Svanevik, speaking at LONGITUDE by Cointelegraph, contrasted today’s competitive landscape with his bullish Ethereum outlook 3–4 years ago, highlighting the rise of rival L1 networks challenging its supremacy in DeFi and blockchain adoption.
about Ethereum's Dominance Wanes as L1 Blockchains Race for LeadInstitutional Investors Drive Bitcoin’s April Rally Amid Retail ETF Outflows
Bitcoin’s April rally was driven by institutional investors like sovereign wealth funds, while retail investors pulled out of ETFs, according to Coinbase’s John D’Agostino. Bitcoin rose 13%, peaking near $96,000 before settling above $92,000. Institutional demand stems from de-dollarization, inflation hedging, and reduced correlation with tech stocks. D’Agostino noted Bitcoin’s core traits—scarcity, immutability, and portability—mirror gold’s appeal. Despite recent divergence from equities, caution is advised against labeling Bitcoin a ‘safe haven’ yet. Analysts like Nansen’s Alex Svanevik warn Bitcoin remains risky amid potential recession risks, though its resilience during trade tensions highlights growing institutional interest.
about Institutional Investors Drive Bitcoin's April Rally Amid Retail ETF OutflowsBitcoin ETFs See $381M Inflows, Biggest Since January
Bitcoin ETFs saw a significant resurgence with $381.4 million in net inflows on Monday, the highest since January 30, driven by institutional demand. ARK 21Shares’ ARKB and Fidelity’s FBTC led the inflows, pulling in $116.13 million and $87.61 million, respectively. Analysts attribute the rebound to shifting monetary policy expectations and political speculation around the Federal Reserve. Bitcoin is increasingly behaving like a macro asset, influenced by global market cycles and institutional participation. Despite recent resilience, experts caution that Bitcoin remains a risky asset compared to gold. The market may be nearing an inflection point, with ETF flows and regulatory clarity shaping the second half of 2025.
about Bitcoin ETFs See $381M Inflows, Biggest Since JanuarySolana Briefly Overtakes Ethereum in Staked Value
On April 20, Solana momentarily overtook Ethereum in staked dollar value, with $53.9 billion worth of SOL staked compared to Ethereum’s $53.7 billion. While Ethereum quickly regained its lead, the event reignited debates about staking yields, network security, and user behavior. Solana’s higher staking yield (8.31% vs. Ethereum’s 2.98%) and 65% participation rate make it attractive, but critics argue its lack of slashing mechanisms compromises economic security. Ethereum’s lower staking ratio (28%) reflects its users’ preference for higher returns in DeFi. The rivalry underscores differing priorities: Solana emphasizes broad participation, while Ethereum balances rewards with resilience.
about Solana Briefly Overtakes Ethereum in Staked ValueMicroStrategy Announces Debt Buyback Amid Concerns Over Unrealized Capital Gains Tax
MicroStrategy has issued a redemption notice for its $1.05 billion 2027 convertible senior notes, allowing note-holders to redeem or convert their securities by February 24. This move comes amid concerns over a potential tax on $19 billion in unrealized capital gains due to the Corporate Alternative Minimum Tax, which could impact the company’s Bitcoin treasury strategy. With over 461,000 BTC valued at approximately $49 billion, MicroStrategy’s aggressive acquisition strategy raises concerns about shareholder equity and the risk of bankruptcy amid Bitcoin’s volatility.
about MicroStrategy Announces Debt Buyback Amid Concerns Over Unrealized Capital Gains Tax