SoSo Daily Mar 18 | A Hyperliquid whale with 50x leverage has once again shorted BTC with a position as high as 520 million USD.

Let's turn our attention to today's overall Crypto market situation.
As of 5:59 AM on March 18, 2025, according to sosovalue, the total market cap of the crypto market stands at 2.81 trillion US dollars, witnessing a decrease of 2.2% compared to yesterday; the total trading volume is 84.08 billion US dollars, marking an increase of 5.93% from the previous day.

According to sosovalue, the price of $BTC is 83,011 USD, a decrease of 0.131% from yesterday. The market cap of $BTC is 1.65 trillion USD, accounting for 58.6% of the total market cap; $BTC's 24-hour trading volume is 24.26 billion USD, making up 28.9% of the total trading volume.
The price of $ETH is 1,907.5 USD, up 0.702% from yesterday; the market cap of $ETH is 230.09 billion USD, representing 8.19% of the total market cap; $ETH's 24-hour trading volume is 11.08 billion USD, comprising 13.2% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 66.79% of the total cryptocurrency market cap, and their combined trading volumes constitute 42.1% of the total trading volume.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is Crypton. As of 05:50 today, its market cap is 13.60K, with a coin price of 0.0011960 USD, witnessing a 24-hour increase of 178%.
The second is Heroes of Mavia. As of 05:50 today, its coin price is 0.57040 USD, with a 24-hour increase of 99.4%.
The third is X Empire. As of 05:50 today, its coin price is 0.000077260 USD, showing a 24-hour increase of 82.1%.
In fourth place is Buying.com. As of 05:50 today, its coin price is 0.011450 USD, with a 24-hour rise of 69.9%.
In fifth place is Bubblemaps. As of 05:50 today, its coin price is 0.20080 USD, increasing by 68.3% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 11 are up and 5 are down. Today, there are no sector with a price change exceeding 2%.


Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:

According to @EmberCN's monitoring, Hyperliquid's 50x leverage whale has currently shorted $BTC with a full position, marking its largest position in history, valued at up to 520 million. It has shorted 6,210 $BTC (worth $520 million) with 40x leverage, at a cost price of $83,898 and a liquidation price of $85,561. To this end, it transferred 16.75 million USDC to the Hyperliquid account as margin, which is all the funds in its address. Previously, it had closed about 500 $BTC short positions using a TWAP strategy and then ceased operations. Meanwhile, its small long positions in MELANIA and HYPE have all been closed with slight losses.

Next news:

According to Wu, data from SoSoValue indicates that yesterday (Eastern Time on March 17), the total net inflow for Bitcoin spot ETFs was $275 million, with none of the twelve ETFs experiencing net outflows. The Bitcoin spot ETF with the highest single-day net inflow yesterday was the Fidelity ETF FBTC, which saw a net inflow of $127 million. Currently, the historical total net inflow for FBTC has reached $11.37 billion.

Next news:Gemini has appointed Dan Chen as its new Chief Financial Officer, signaling potential changes as the crypto exchange considers an initial public offering (IPO). Chen, who previously worked at Affirm, MetLife Investments, and Morgan Stanley, expressed enthusiasm for driving Gemini's financial strategy. The appointment comes amid reports of Gemini's IPO plans and follows a crypto summit hosted by President Trump, attended by Gemini co-founders Cameron and Tyler Winklevoss. The summit highlighted a shift in the U.S. administration's stance towards crypto, with the SEC closing its investigation into Gemini and other regulatory actions being paused. Gemini also settled a case with the CFTC for $5 million.
Next news:Offchain Labs, the company behind the Arbitrum ecosystem, has announced the launch of 'Onchain Labs'. This new initiative aims to support early-stage projects within the Arbitrum ecosystem, providing resources and guidance to foster innovation and growth.
Next news:Ethena Labs and Securitize have announced the launch of Converge, a new Ethereum-compatible blockchain designed for institutional use in the DeFi space. Converge aims to enhance accessibility for institutions by offering compliant settlement and custodial services, integrating a native KYC wrapper, and providing access to whitelisted investment products. Ethena plans to transition its $6 billion DeFi ecosystem to this new platform. The network will support both permissionless and permissioned applications, with major DeFi protocols like Aave and Maple Finance as launch partners. Securitize will use Converge for issuing tokenized assets, including new products like leveraged credit and perpetual swaps. The launch is expected in Q2 2025, with the network secured by validators staking Ethena's ENA token.
Next news:

According to voting data on Mintscan, the proposal to restore the 70 billion CRO that had been burned was passed with a support rate of 62.18%. Prior to March 16, the proposal had nearly slightly more votes in favor than against, but it had not yet reached the required quorum of 33.4% to take effect. Just before the voting was about to close, 3.35 billion CRO tokens were added to the affirmative category, reaching the quorum, and the voter turnout greatly exceeded the maximum voting rate. The votes in question came from large validators operated by Crypto.com (including Starship, Falcon Heavy, Electron, Antares, and Minotaur IV), which control 70-80% of the total voting power. (UnChained)

Next news:According to reports from Bloomberg, the Trump family's crypto project World Liberty Financial has completed its second round of token sales, raising a total of 550 million dollars, with 30 million dollars reserved for company expenses and other expenditures. According to the issuance documents for World Liberty's initial token sale, Donald Trump and the company associated with him, DT Marks DEFI LLC, will take 75% of the net proceeds as fees—amounting to 390 million dollars. Furthermore, according to the official blog, WLFI has established partnerships with leading blockchain protocols such as Ondo Finance, Ethena, Chainlink, Sui, and Aave. The project has also set up a strategic reserve program for digital assets that includes $BTC, $ETH, TRX, LINK, SUI, and ONDO.
Next news:According to Wu, CryptoQuant CEO Ki Young Ju believes that on-chain indicators suggest the Bitcoin bull market cycle has ended, and prices are expected to show a bearish or sideways trend for the next 6 to 12 months. As new liquidity dries up, new whales are selling Bitcoin at lower prices. His alerts apply PCA to on-chain indicators such as MVRV, SOPR, and NUPL to calculate the 365-day moving average, which is used to identify turning points in the trend of the 1-year moving average. However, some users have pointed out that his sell signal in 2020 was incorrect.
Next news:According to Wu, SlowMist monitoring has revealed that Four meme tokens were exploited by attackers who took advantage of a vulnerability prior to the token's release to steal liquidity. The attackers purchased a small amount of tokens using the 0x7f79f6df function of Four meme before the token's release, and used that function to send the tokens to a PancakeSwap trading pair address that had not yet been created. This allowed the attackers to create the trading pair and add liquidity without needing to transfer the unreleased tokens, circumventing the transfer restrictions (MODE_TRANSFER_RESTRICTED) imposed before the release of the Four meme tokens. Ultimately, the attackers added liquidity at an unexpected price, successfully stealing liquidity from the pool.
Next news:

According to Wu, Japanese listed company Metaplanet Inc. has announced the issuance of 2 billion yen (approximately 13.38 million USD) zero-interest ordinary bonds to purchase more Bitcoin.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.