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Digital asset management company Grayscale pointed out in its latest report that the decentralized trading platform Hyperliquid is rapidly evolving from a cryptocurrency perpetual contract exchange into a blockchain financial infrastructure platform, which may even challenge traditional derivatives trading and exchange systems in the future, growing into a "financial services giant."The report shows that Hyperliquid is expected to achieve approximately $800 million in revenue by 2025, with an annual perpetual contract trading volume of about $29 trillion and an open interest of approximately $7 billion, occupying a significant share of the cryptocurrency derivatives market. Grayscale believes that the platform is no longer limited to cryptocurrency trading but is expanding into tokenized stocks, commodities, and prediction markets through the HIP-3 and HIP-4 systems, gradually building an all-weather on-chain trading infrastructure.FalconX also pointed out in another report that Hyperliquid is competing with traditional derivatives exchanges such as CME Group and prediction market platforms like Kalshi and Polymarket, making progress in new markets such as Pre-IPO. The report also emphasizes that regulation remains a key variable. Although Hyperliquid currently restricts access for U.S. users, as the regulatory framework becomes clearer and institutions like Coinbase, Robinhood, and Kraken explore perpetual contract products, this sector may welcome broader growth opportunities in the future.

On-chain monitoring shows that a batch of funds suspected to be related to hacking or phishing activities has recently continued to buy Monero (XMR), with a total purchase scale of approximately 23 million dollars, significantly impacting market prices.

The French newspaper "Le Monde" revealed that there has been new progress in the investigation of a cryptocurrency-related kidnapping case that occurred in 2023. French law enforcement discovered a transnational money laundering network involving multiple countries and cryptocurrency wallets while tracing the flow of a €1.7 million cryptocurrency ransom. The victim was the father of the well-known crypto influencer "TeufeurS." The kidnappers threatened the victim's family via text messages and demanded ransom payment in cryptocurrency. Ultimately, TeufeurS transferred a total of €1.7 million to the kidnappers' designated wallet in two installments, after which his father was released.The investigation showed that part of the ransom flowed into wallet accounts controlled by foreign nationals after multiple transfers. One transfer of $131,000 was successfully traced by the French gendarmerie, with leads ultimately pointing to a cryptocurrency wallet controlled by Venezuelan nationals. The case further revealed the complex chain of money laundering utilized by criminal organizations through cross-border cryptocurrency transfers, anonymous wallets, and overseas platforms. The report stated that this case is considered one of the significant examples of kidnapping and extortion cases in the European cryptocurrency industry and may serve as an early template for multiple kidnapping cases targeting cryptocurrency practitioners in France and Europe in 2025.

According to The Block, quantitative market maker Wintermute has announced its entry into the prediction market sector, providing two-way quote liquidity services for several mainstream event contract platforms, marking the official expansion of its trading infrastructure into the emerging market at the intersection of crypto and traditional assets.The company stated that it has been continuously providing buy and sell bilateral quotes on multiple "leading platforms," with the total monthly trading volume of these prediction markets exceeding $20 billion this year, indicating that this sector is growing rapidly but still in the early stages of liquidity. Wintermute's annual trading volume exceeds $3.5 trillion, and this expansion further strengthens its cross-asset market-making capabilities.Jake Ostrovskis, head of OTC trading at the company, stated that prediction markets have a demand structure similar to traditional major asset classes, but liquidity is still insufficient, requiring continuous bilateral quotes to enhance price discovery efficiency and trading depth. He pointed out that tighter spreads and greater trading capacity will improve the quality of market probability signals.In the industry, institutions such as Jump Trading and Galaxy Digital have also entered this field, with some platforms like Polymarket and Kalshi having a cumulative trading volume exceeding $150 billion. Analysts believe that Wintermute's entry further promotes the integration of prediction markets and crypto infrastructure, especially in terms of stablecoin settlement, on-chain clearing, and risk management systems, as these markets gradually approach a derivatives-level institutional development structure.

According to Onchain Lens monitoring, the Ethereum treasury company FG Nexus deposited 5,000 ETH (10.06 million USD) into Galaxy Digital and still holds 16,354 ETH (34.15 million USD).

Lookonchain posted on platform X that Michael Saylor's Strategy has just deposited 411.48 BTC into Coinbase Prime, worth 30.3 million dollars; on Polymarket, the probability of MicroStrategy selling BTC before December 31, 2026, has now reached 84%.

According to Arkham monitoring, Grayscale deposited a total of 1,530.704 bitcoins, approximately 112 million USD, into Coinbase Prime in the last hour.

According to OnchainLens monitoring, a certain early Ethereum whale deposited 1,600 ETH into Kraken, worth 3.18 million USD, and currently holds 400 ETH, worth 792,000 USD.It is reported that this whale once spent 622 USD to purchase 2,000 ETH, which is now worth 3.96 million USD, achieving a return of 6,373 times.

According to on-chain analyst Onchain Lens (@OnchainLens), BlackRock deposited 3,900 BTC (approximately $286 million) and 31,702 ETH (approximately $63 million) into Coinbase, totaling approximately $349 million.

Cryptocurrency analyst Axel Adler Jr. stated that the inflow of BTC to trading platforms and the outflow of stablecoins from trading platforms simultaneously release a "risk aversion" signal, indicating that selling pressure in the market is increasing. Data shows that the net inflow of BTC to trading platforms over the past 30 days has shifted from an extreme net outflow of 300,000 BTC at the end of March to an inflow of 103,000 BTC, meaning more BTC is being reintroduced to trading platforms in preparation for sale. During the same period, the price of BTC dropped from $80,000 to $73,700.Meanwhile, stablecoins are flowing out of centralized trading platforms at a record pace. The average net flow of stablecoins over the past 30 days has shifted from an inflow of $164 million per day at the end of April to an outflow of $153 million per day. This indicates that the liquidity available for purchasing BTC in the market is decreasing. Axel Adler Jr. pointed out that when BTC flows into exchanges while stablecoins simultaneously flow out of trading platforms, it creates an unfavorable structure of "increased supply and decreased demand," which is a typical risk aversion market condition.He believes that if the net inflow of BTC continues to exceed +100,000 BTC, the market may face a deeper correction; while stable signals would include BTC turning back to a net outflow or stablecoins flowing back into trading platforms.

According to Onchain Lens monitoring, after two years of silence, a giant whale deposited 3,466 ETH (7 million USD) into Kraken.

According to Coinglass data, on May 27 at 23:52, 39.5796 million USDT was detected being transferred from an unknown wallet to Binance.

According to Onchain Lens monitoring, BlackRock deposited 2,538 BTC into Coinbase, worth approximately $192.53 million.

According to Lookonchain monitoring, the smart trader 0xfda8 has just bought 7,000 ETH ($14.52 million) and deposited it into Aave. This trader has previously made two profitable swing trades in ETH, with a total profit of $2.04 million.

According to Bits.media, the Italian energy company Alps Blockchain has partnered with the Bolivian company Qurubiqa to launch Bitcoin mining at a dormant 127-megawatt natural gas power plant in the Cochabamba region of Bolivia. The mining site currently consumes about 27 megawatts of power, with a hash rate of 1.23 EH/s, and plans to increase power consumption to 45 megawatts by the end of the year. The mining equipment directly uses the electricity generated by the power plant and is not connected to the public grid. Due to Bolivia facing a currency crisis and a shortage of US dollars, project participants settle in US dollars.

According to Onchain Lens monitoring, a giant whale deposited 17.566 million ENA (approximately 1.78 million USD) into Wintermute, while that address had previously withdrawn the same batch of ENA from Wintermute and Binance, with a cost of about 5.38 million USD. This operation resulted in a total loss of approximately 3.6 million USD.

According to Onchain Lens monitoring, the whale address starting with 0xeb17a deposited 5,637 ETH into OKX, worth approximately 11.92 million USD.

According to on-chain analyst Ai Yi's monitoring, the WLFI unlocking activation portal has been open for two weeks. A total of 45.9 billion WLFI has been transferred to the unlocking contract, with a progress of 73.8% and a total value of 2.81 billion USD.The WLFI team and related stakeholders have burned 3.2 billion WLFI, valued at 194 million USD. The current price of WLFI is 0.06137 USD, an increase of 18% compared to the low point at the beginning of the month.