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SoSo Daily Mar 28 | Hyperliquid Responds to the JELLY Incident, Will Compensate Users and Introduce Risk Mechanisms Including ADL and Dynamic Limits

$BTC
$ETH
SoSo Newsletter
4KWords
Mar 28, 2025


Crypto Market Overview


Let's turn our attention to today's overall Crypto market situation.


As of 5:59 AM on March 28, 2025, according to sosovalue, the total market cap of the crypto market stands at 2.89 trillion US dollars, witnessing a decrease of 4.26% compared to yesterday.


The total trading volume is 98.48 billion US dollars, marking an increase of 3.33% from the previous day.




According to sosovalue, the price of $BTC is 86,086 USD, a decrease of 1.41% from yesterday. The market cap of $BTC is 1.71 trillion USD, accounting for 59.1% of the total market cap; $BTC's 24-hour trading volume is 25.41 billion USD, making up 25.8% of the total trading volume.
The price of $ETH is 1,917.4 USD, down 5.2% from yesterday; the market cap of $ETH is 231.34 billion USD, representing 8% of the total market cap; $ETH's 24-hour trading volume is 13.57 billion USD, comprising 13.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 39.6% 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 03:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is NEIRO. As of 03:00 today, its market cap is 98.78K, with a coin price of 0.000098783 USD, witnessing a 24-hour increase of 700%.
The second is XPET. As of 03:00 today, its coin price is 0.029000 USD, with a 24-hour increase of 68.9%.
The third is PET. As of 03:00 today, its coin price is 0.015770 USD, showing a 24-hour increase of 53.7%.
In fourth place is KILT. As of 03:00 today, its coin price is 0.056500 USD, with a 24-hour rise of 43.4%.
In fifth place is BERRY. As of 03:00 today, its coin price is 0.00020000 USD, increasing by 43.3% over the last 24 hours.



Sector Performance in the Crypto Market


According to sosovalue, out of 16 sectors, 2 are up and 14 are down. Notably, the Layer2, GameFi, and Meme sectors are worth mentioning.



Layer2 Sector


The Layer2 sector has fallen by 5.65% relative to the UTC 0 time, led by declines in mnw (-18.1%), A8 (-15%), and lumia (-13%).




GameFi Sector


The GameFi sector has decreased by 6.38% relative to UTC 0, with combo (-60.9%), fire (-29%), and rbls (-18%) leading the drop.




Meme Sector


The Meme sector has fallen by 6.59%, with SIREN (-30.7%), koma (-20.7%), and gme (-17.3%) leading the decline.





Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Wu reported that Hyperliquid responded to the "JELLY incident," stating that it will settle all long positions for users with unmarked addresses at a price of 0.037555. Additionally, it has strengthened risk management measures, including setting strict limits for the Liquidator vault, which will only account for a small portion of the total value of HLP accounts, reducing the frequency of rebalancing, and introducing more complex backstop liquidation logic. When the vault experiences losses exceeding a set threshold, it will trigger ADL, rather than automatically calling on collateral from other component vaults (ADL is not expected to trigger during normal market fluctuations); the limit on open contracts will be dynamically adjusted based on the market value of the assets; for assets below the set threshold, validators will decide whether to delist them through on-chain voting.
Next news:

According to Foresight News, monitoring by Yujin indicates that after Binance launched the Mubarak spot market at 5 PM, a certain address transferred 11 million Mubarak (approximately 1.49 million USD) to Binance, making a profit of approximately 1.6 million USD. This address spent a total of 149 thousand USD to purchase 13 million Mubarak between March 14 and March 16, with an average price of 0.011 USD, and sold 2 million Mubarak (approximately 266 thousand USD) through Bitget at a price of 0.133 USD six days ago.

According to Foresight News, monitoring by Yujin indicates that after Binance launched the Mubarak spot market at 5 PM, a certain address transferred 11 million Mubarak (approximately 1.49 million USD) to Binance, making a profit of approximately 1.6 million USD. This address spent a total of 149 thousand USD to purchase 13 million Mubarak between March 14 and March 16, with an average price of 0.011 USD, and sold 2 million Mubarak (approximately 266 thousand USD) through Bitget at a price of 0.133 USD six days ago.


Next news:The U.S. Securities and Exchange Commission (SEC) has terminated its investigation into Crypto.com and has no plans to file charges. Crypto.com stated that the SEC will not take enforcement action against the company. Previously, Crypto.com had sued the agency after receiving a Wells notice from the SEC, accusing it of overreaching its jurisdiction. Recently, the SEC has also withdrawn investigations into several cryptocurrency companies, including Kraken and Coinbase. There have been significant changes at the SEC since the Trump administration began, including the withdrawal of controversial cryptocurrency accounting guidance and the establishment of a cryptocurrency working group. Crypto.com has over 140 million global customers and plans to collaborate with the Trump Media & Technology Group to launch an exchange-traded fund for its fintech brand, Truth.Fi.
Next news:The Sei Foundation is exploring the acquisition of the bankrupt 23andMe company, marking its boldest decentralized science (DeSci) investment to date. After obtaining judicial approval, 23andMe plans to sell its assets, which include customers' medical and ancestry data. The Sei Foundation intends to deploy 23andMe on the Sei blockchain, ensuring user data sovereignty and allowing users to choose how their data is monetized. Following the announcement, 23andMe's stock rose by 45%.
Next news:

According to Wu, Arkham monitoring has revealed that the U.S. government address "Sae-Heng Confiscated Funds" transferred 97.33599434 bitcoins (approximately 8.46 million USD) on March 27, 2025, at 17:23:27 (UTC).


Next news:According to Reuters, the French state investment bank Bpifrance has announced the establishment of a new fund of up to 25 million euros, specifically for direct investments in local cryptocurrency projects that have not yet launched on exchanges, to support the development of the crypto business in France. This is its first fund specifically set up for purchasing tokens, having previously invested approximately 150 million euros in blockchain projects. Bpifrance stated that it will focus on investing in small new tokens issued by French teams and may assist them in launching on exchanges.
Next news:The FBI has seized $200,000 in cryptocurrency from wallets and accounts linked to Hamas. This action is part of ongoing efforts to disrupt financial networks supporting terrorism. The seizure highlights the increasing use of digital currencies in funding illicit activities and the challenges law enforcement faces in tracking and intercepting these transactions.
Next news:

According to Foresight News, monitored by Yujin, a certain whale/institution accumulated 8.70 million LAYER at a price of $0.75 one month ago and transferred it to Binance at a price of $1.26 just 20 minutes ago, making a profit of approximately $4.63 million. The 8.70 million LAYER was withdrawn from Binance one month ago, when it was valued at $6.51 million.

According to Foresight News, monitored by Yujin, a certain whale/institution accumulated 8.70 million LAYER at a price of $0.75 one month ago and transferred it to Binance at a price of $1.26 just 20 minutes ago, making a profit of approximately $4.63 million. The 8.70 million LAYER was withdrawn from Binance one month ago, when it was valued at $6.51 million.


Next news:

According to SoSoValue data, Bitcoin spot ETF saw a total net inflow of 89.06M USD yesterday (Eastern Time, March 27th).


The Bitcoin Spot ETF with the highest net inflow yesterday was Fidelity's ETF FBTC, with a daily net inflow of 97.14M USD, and the total historical net inflow of FBTC currently stands at 11.56B USD.

The second highest was BlackRock's ETF IBIT, with a daily net inflow of 3.97M USD, and the total historical net inflow of IBIT currently stands at 39.95B USD.

The Bitcoin Spot ETF with the highest net outflow yesterday was Invesco and Galaxy Digital's ETF BTCO, with a daily net outflow of 6.95M USD, and the total historical net inflow of BTCO currently stands at 98.18M USD.


As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 98.29B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 5.67%. The historical cumulative net inflow has reached 36.34B USD.



Source: https://sosovalue.com/zh/assets/etf/us-btc-spot


Next news:

Wu has learned that the U.S. Securities and Exchange Commission has officially announced the withdrawal of its lawsuits against Payward Inc. and Payward Ventures Inc. (Kraken), Consensys Software Inc., and Cumberland DRW LLC, and has issued a related announcement.



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.

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