on-chain

According to CoinDesk, Bitcoin has risen from about $63,000 to over $80,000 in the past three months, with several key indicators currently pointing to a target of $85,000.On-chain, BTC has broken through two key supports: the "real market average" ($78,200) and the "short-term holder cost basis" ($79,100). Research firm Glassnode indicates that the next resistance level is around the active realized price of $85,200; on the futures front, the funding rate has shifted from negative to neutral, as significant short pressure has clearly eased, increasing the risk of a short squeeze; on the options front, market makers hold about $2 billion in "short gamma" exposure around $82,000, and a price increase will force them to continue hedging purchases, creating positive feedback. However, analysts warn that Bitcoin remains highly correlated with the tech sector of the U.S. stock market, and if the equity market shifts to risk-off, upward momentum may be suppressed.

DTCC (Depository Trust & Clearing Corporation) CEO Frank La Salla stated that the company is collaborating with multiple high-performance Layer 1 blockchains to explore migrating complex corporate actions such as dividend payments and tender offers to on-chain processing.La Salla mentioned at the Consensus 2026 conference that most blockchains still lack efficiency in handling corporate actions, while DTCC needs to process millions of dividend payments daily, thus requiring support from Layer 1 networks with high throughput and stability. DTCC is one of the core infrastructures of the U.S. capital markets, handling approximately $20 trillion in U.S. Treasury and securities transactions daily. The organization plans to launch a tokenized securities platform test in July this year, aiming for a broader rollout in October.La Salla believes that "tokenized collateral" could become the first large-scale institutional application scenario for blockchain. In the future, Asian institutions could even access dollar liquidity in real-time through on-chain collateral during New York's Sunday hours. However, he also warned that blockchain still faces issues such as scalability, liquidity fragmentation, and risk management, especially the efficiency of "net settlement" in traditional financial systems, which remains difficult to replicate in a decentralized environment.

According to the official announcement, the Binance Wallet is launching the "On-Chain Trade & Win Campaign" for the third quarter starting today.The registration period is from May 6, 2026, 12:00 to May 21, 2026, 4:00 (UTC), and the competition period is from May 7, 2026, 4:00 to May 21, 2026, 4:00 (UTC). Users need to register with the Binance Wallet and participate in on-chain trading, with trading tokens based on the BSC or SOL chain, and the trading pairs must include USDT, USDC, USD1, U, BNB, WBNB, SOL, or WSOL.Rewards will be distributed based on the PnL rankings achieved during the competition period, with the top 50 users eligible for BNB or SOL rewards.

The Web3 asset data platform RootData has outlined 30 Web3 business partners of Hyperliquid, covering multiple key aspects such as stablecoins, cross-chain infrastructure, wallet entry, DeFi protocols, institutional custody, and trading ecosystems, gradually forming a complete on-chain financial system. At the funding level, Hyperliquid has connected with stablecoin issuers such as Circle, Tether, and Ethena. In terms of underlying infrastructure, it connects with cross-chain and oracle services like Chainlink, Axelar, deBridge, and Ripple. The user entry layer includes wallets and front-end tools like Phantom, Rabby Wallet, and DeBank, lowering the entry barrier for users. At the same time, more native DeFi protocols have begun to emerge within its ecosystem, such as Pendle, Felix, HypurrFi, and HyperBeat. According to RootData, the Hyperliquid ecosystem has included 145 quality projects, indicating that Hyperliquid is attracting more financial applications to build businesses around its liquidity. Additionally, the inclusion of custodians like Anchorage Digital, BitGo, and Fireblocks has begun to connect it with larger institutional funds. Trading platforms and market-making institutions like Bybit, trade.xyz, and IMC Trading further enhance market liquidity. Overall, Hyperliquid is continuously expanding around "on-chain liquidity," attempting to replicate the ecosystem model of centralized exchanges on-chain, but the core is no longer an account system. Related compilation: Hyperliquid Web3 Partner Network Compilation (continuously updated) Cryptocurrency projects actively showcasing their partner networks has become a key way to enhance transparency and market trust. It is reported that RootData welcomes Web3 projects to claim their information and continues to track and open more project business relationship disclosure channels. The platform has continuously released multiple issues of cryptocurrency project ecosystem maps, nominating Web3 ecosystem partners for upstream clients like Visa, Mastercard, and Coinbase. If you wish to nominate your project in future ecosystem maps, please fill out the [RootData 2026 Industry Ecosystem Mapping] form to supplement your important clients and partners.

Spot gold has rebounded significantly after falling to $4500 on May 4, rising again by 2.3% this morning. The price of GOLD on Hyperliquid is currently reported at $4651, having tested this price level three times in the past seven days.In this round of increase, the well-known short-selling institution Abraxas Capital on Hyperliquid has turned from profit to loss, with an average short position price of $4650 for its 5x leveraged GOLD short position, amounting to $22 million. It is now the top holder of short positions in on-chain gold. Address: 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36.

According to market news, Bitcoin's on-chain activity has dropped to a two-year low, with an average of about 531,000 active wallets and 203,000 new wallets per day. This data is significantly disconnected from Bitcoin's recent breakthrough of $80,000 (the first time in three months).Santiment points out that typically, a price increase should attract more users and on-chain activity, but currently, the price rise is driven by smaller participants rather than a broad influx of new and returning users. Price increases lacking support from on-chain participation are often fragile, and when large holders take profits, there may not be enough new demand to take over. Historical data shows that a bottom in network activity often marks the end of a lull period, and once retail interest returns, there may be greater upside potential for prices.

According to PR Newswire, the asset tokenization platform Securitize announced a partnership with Jump Trading Group and the decentralized trading aggregator Jupiter to launch fully on-chain and regulated tokenized stock trading. This integration combines Securitize's end-to-end regulatory infrastructure, Jump's liquidity, and Jupiter's front-end distribution interface, aiming to create a complete market structure stack.This move marks the transition of tokenized stocks from issuance to a scalable and liquid secondary market. Securitize CEO Carlos Domingo stated that the collaboration demonstrates that liquidity, accessibility, and compliance can be achieved within the existing regulatory framework. Jump provides liquidity through its PropAMM deployed on Solana, while Jupiter serves as the user access point. The entire system operates under existing securities regulations.The system offers large-scale liquidity support for issuers, provides a compliant path for distribution platforms to integrate tokenized securities, and indicates to regulators that blockchain-based markets have achieved scalability while enhancing efficiency, transparency, and accessibility.

According to Fortune, the stablecoin infrastructure startup Rain is currently valued at $1.95 billion and has announced a partnership with payment giant Mastercard to issue credit and prepaid cards, as well as explore pathways for using stablecoins for payment settlements.Previously, Rain primarily relied on the Visa network to issue card products, and this collaboration with Mastercard signifies its entry into the "dual card network" layout phase, further expanding its institutional client market. Rain stated that this partnership will focus on serving large institutional clients that are deeply bound to a single payment network, enabling them to introduce stablecoin settlement capabilities without changing their existing payment systems.Meanwhile, the application of stablecoins continues to expand at the industry level, with institutions such as Stripe and Coinbase promoting the integration of stablecoin payments and settlements, indicating that the fusion of traditional finance and crypto payment infrastructure is accelerating. Analysts believe that as the regulatory framework becomes clearer, stablecoins are rapidly shifting from trading tools to enterprise payment and cross-border settlement infrastructure.

According to official news, the on-chain identity project Phi will cease operations on May 25, and phi.box and other services will be discontinued, but the PHI token will be retained and continue to trade on Aerodrome.Phi stated that in January of this year, the team underwent large-scale layoffs to reduce costs in search of a sustainable development path. In the following months, Phi explored various possibilities, including transitioning into the prediction market or artificial intelligence fields, but currently, the funds can no longer support the project's continued operation.

According to Cointelegraph, Nominis analysis indicates that some of the "Iran-related" crypto wallets recently seized and frozen by the U.S. OFAC may not exhibit on-chain behavior characteristics consistent with the past operational patterns of the Islamic Revolutionary Guard Corps (IRGC), suggesting the involvement of other state-level actors.Previously, the U.S. Treasury stated that over $340 million, totaling nearly $500 million in Iran-related crypto assets, had been frozen in the "Operation Economic Fury." Nominis CEO Snir Levi noted that historically, IRGC-related wallets typically spread funds across multiple addresses, maintain low balances in single wallets, avoid long-term holdings, and employ complex operations to reduce the risk of being frozen; however, the wallets that were seized this time show significant differences in their funding structure and behavior patterns.He believes this raises a critical question: how much of the frozen $340 million in assets is directly controlled by the IRGC, and how much involves broader infrastructures that may even overlap with financial networks of other countries.Levi also pointed out that organizations, including the IRGC and potential state-level actors from China, are continuously upgrading their use of blockchain infrastructure, and traditional static risk control labels are no longer sufficient; behavioral analysis and address clustering are becoming increasingly critical.

On the X platform, "on-chain detective" ZachXBT pointed out that certain law firms in the United States are using their investigative work and on-chain forensic results to help victims of hacking incidents file legal claims, but this practice may actually affect the victims' ability to receive compensation or recover funds.In previous hacking incidents involving the Lazarus Group, these law firms typically intervene only after their on-chain fund tracking or freezing is completed, and propose follow-up legal actions that are weakly related to the crypto incidents themselves. They have also employed similar strategies for "free-riding claims" in incidents involving Harmony, Bybit, and others. ZachXBT also called for the crypto community to establish a DAO to resist such behavior.

At the Ethereum University Tour - Shanghai Station Fudan University special event, SYNBO was invited to give a keynote speech, systematically breaking down the evolution logic of the public chain ecological investment and financing market.Currently, the primary market in the industry heavily relies on offline intermediary models, facing four major disconnection issues in terms of access, trust, capital release, and profit distribution.In response to the existing pain points in the industry, SYNBO is committed to transforming capital operations into on-chain verifiable rules, relying on delivery-oriented capital release, dynamic pricing and financing share trading, continuous asset generation mechanisms, and community co-construction models to build a native on-chain investment and financing protocol system.The SYNBO model will break down traditional VC industry barriers, lower the financing threshold for innovation and entrepreneurship, and promote the industry's development from "asset on-chain" to "on-chain capital efficiency upgrade," creating sustainable endogenous growth momentum for the entire public chain ecosystem.

Polymarket announced the launch of a comprehensive on-chain market integrity monitoring system solution to monitor trading behavior and enforce platform market compliance rules. This system will be built in collaboration with blockchain data analytics company Chainalysis, covering all DeFi trading processes on Polymarket, including real-time on-chain analysis of trading, holdings, and settlement data. It will identify potential violations through a multi-layer monitoring mechanism, focusing on insider trading and market manipulation.Polymarket stated that all its transactions are completed on a public blockchain. This collaboration will further amplify the advantages of on-chain transparency, allowing regulatory agencies and law enforcement to obtain verifiable on-chain evidence, thereby establishing a new compliance standard in the predictive market field. Polymarket founder and CEO Shayne Coplan stated that the platform has emphasized transparency and traceability since its inception, and this collaboration will further strengthen its positioning as a "trusted source of market information."

According to official news, legend.trade announced the completion of a $3.5 million seed round financing, led by Electric Capital, with participation from Amber Group and GSR Markets LTD. Its total financing amount has exceeded $5 million.According to RootData, legend.trade is a trading and competition platform based on Telegram, aimed at providing users with a seamless, fair, and efficient trading and competitive experience.

According to monitoring by Hyperinsight, in the past hour, Brent crude oil futures surged during the pre-market session of U.S. stocks, reaching a high of 108 dollars. The BRENTOIL platform on Hyperliquid saw a 24-hour increase of 3%, with prices having basically recovered to the levels before the significant drop at the beginning of the month, recovering nearly a month's worth of losses recently.A certain BRENTOIL short whale faced forced liquidation multiple times during this round of increases, with a total liquidation scale reaching 2.75 million dollars, recording a loss of about 250,000 dollars. This short position was opened on April 24.

According to monitoring by Hyperinsight, in the past hour, after BTC rebounded above $77,000, two whales on the Hyperliquid platform simultaneously opened 40x leveraged BTC short positions near this price level, with a total size of approximately $9 million and an average price of about $77,100.The liquidation lines for both addresses are set near $77,900, less than 1% away from the opening average price.

In response to external doubts about its data being "leaked," Polymarket issued a statement clarifying that the relevant data has never been leaked, and all data can be publicly accessed through its public endpoints and on-chain data, which is an inherent feature of on-chain data transparency, not a security vulnerability.Polymarket stated that one of the core advantages of on-chain data is that it is fully publicly auditable, and anyone can freely access the relevant data through its API without having to pay for it.According to previous news from ChainCatcher, the prediction market platform Polymarket is suspected of experiencing a data leak, with over 300,000 records and an exploit toolkit leaked.