Brazil’s B3 stock exchange will roll out Ethereum (ETH) and Solana (SOL) futures contracts on June 16, after getting approval from the securities regulator CVM. The new contracts will be USD-denominated, with sizes set at 0.25 ETH and 5 SOL each. In a move to boost market liquidity, B3 will also reduce the size of its Bitcoin futures contracts from 0.1 BTC to 0.01 BTC, making it more accessible for traders and increasing market participation.
ZachXBT’s investigation claims that the mysterious 50X Hyperliquid whale is actually a British cyber criminal named William Parker (formerly known as Alistair Packover). Parker has a long history of fraud, hacking, and casino theft.
This trader made headlines by profiting roughly $20 million from a series of highly leveraged trades
Who is William Parker, AKA the 50X Hyperliquid Whale?
William Parker is a British cyber criminal with a long track record in hacking and fraud.
“I tracked down a recent payment from 0xe4d3 to an unnamed person who confirmed they had been paid by the Hyperliquid trader. They provided a UK phone number used to communicate with them. Public record reveals the name William Parker is likely tied to this number,” wrote ZachXBT.
He was arrested in 2023 for allegedly stealing around $1 million from two casinos. Even after serving time, Parker continued his illicit activities.
William Parker, AKA Alistair Packover. Source: BBC
So, how did he actually make $20 million in a very short time? The answer is ‘using leverage’.
Understanding 50x Hyperliquid Trades
In crypto, leverage means borrowing funds to increase the size of your trading position. In this case, the whale used up to 50× leverage. This means that even a small favorable move in an asset’s price could multiply his profits many times over.
For example, if he had a 50× leveraged position and the price moved 2% in his favor, that 2% swing could translate into about a 100% gain on his original investment.
“A whale who opened a $450 million short position on btc with 40x leverage closed all their trades, making a $9.46M profit in 8 days. Although this person is referred to as a “Hyperliquid whale,” they are actually a criminal, gambling with stolen funds,” wrote Web3 attorney Langerius.
The trader, William Parker, as revealed by ZachXBT, opened very large positions in cryptocurrencies like Bitcoin and Ether during volatile market moments.
He timed his trades when the market was moving rapidly earlier this month due to the whole White House Crypto Summit and Bitcoin reserve saga.
The volatile market sentiment allowed him to move around big events or sudden price changes.
“When a whale shorts over $450 million in BTC and wants a public audience, it’s only possible on Hyperliquid. Anyone can photoshop a PNL screenshot. No one can question a Hyperliquid position, just like no one can question a Bitcoin balance. The decentralized future is here,” Hyperliquid wrote on X (formerly Twitter).
How Did Parker’s Leveraged Trades Affect the Market?
In some cases, his massive trades also forced other traders into liquidation. When a trader’s position is liquidated, the system sells its assets at a loss to cover the borrowed funds.
This boosted the whale’s gains and also disrupted the market. Although using 50× leverage is extremely risky, Parker managed his trades carefully.
His strategy was successful enough that he reportedly made around $20 million from these high-stakes moves.
The crypto markets are following a range-bound consolidation after the latest upswing, which suggests the bulls and bears continue to remain vigilant. Mainly due to the top two tokens, Bitcoin and Ethereum, surging above the pivotal resistance and sustaining, the market participants seem to have turned optimistic about the upcoming price action. Therefore, the other altcoins, which are largely not in the top 10, have received immense attention from them. This suggests these tokens have a huge potential to trigger a strong rise once BTC price resumes its journey to a new ATH.
The beginning of the second quarter was pretty bullish for the entire crypto space, with the Bitcoin price surging above the consolidated zone. This move triggered many altcoins, with Fartcoin rising over 180% in a month, followed by Virtual Protocol at 140% and Pudgy Penguins at 100%. Apart from these tokens, here are the top 10 altcoins that have gained massive social dominance along with a bullish price performance. They are,
Bonk (BONK)
Monero (XMR)
Sei (SEI)
Bittensor (TAO)
Near Protocol (NEAR)
Render (RENDER)
Algorand (ALGO)
Polkadot (DOT)
XDC Network (XDC)
Aptos (APT)
A popular on-chain platform, LunarCrush scanned the top 100 cryptos and listed these tokens, which have gained significant user attention in the past 30 days. The altcoin ranking of these tokens has risen significantly, indicating a decent rise in the market capitalization and strength of these altcoins. The market cap is rising, which indicates these tokens carry a huge potential of triggering a massive upswing in the coming weeks.
The global scenarios, specifically the trade war, are slowly losing it’s intensity and with this, the investors have gained huge confidence. Besides, the tariffs are believed to harm the US economy by many CEOs, and this could be a massive bullish signal for Bitcoin, altcoins and the entire crypto market. Now that the BTC price is close to resuming with a strong upswing back to $100K, the Ethereum price and all the altcoins are expected to gain strength. With this, a Bitcoin bull run may occur, igniting a strong Altseason soon.
The post Top 10 Altcoins to Look Up in May- BONK, XMR, SEI, TAO & a Few More May Lead the AltSeason appeared first on Coinpedia Fintech News
The crypto markets are following a range-bound consolidation after the latest upswing, which suggests the bulls and bears continue to remain vigilant. Mainly due to the top two tokens, Bitcoin and Ethereum, surging above the pivotal resistance and sustaining, the market participants seem to have turned optimistic about the upcoming price action. Therefore, the other …
XRP has been consolidating over the last few days, managing to stay above the $2 mark. However, after validating a four-month-long downtrend earlier this month, the altcoin is struggling to sustain its current position.
As investor interest wanes, XRP may face challenges in maintaining upward momentum.
XRP Is Losing Investors’ Interest
New addresses associated with XRP have hit a 5-month low, signaling a decline in new investor interest. This suggests that XRP is losing traction within the market as fresh capital fails to flow into the asset. The absence of new buyers could make it difficult for XRP to maintain its position above $2.
The falling demand is concerning as XRP’s price growth is often supported by new market participants. With fewer investors entering the market, the altcoin may face a prolonged period of stagnation. Unless there is a shift in demand, XRP’s ability to maintain its price level could be compromised.
The overall macro momentum for XRP remains weak, as reflected by technical indicators like the RSI. Currently stuck below the neutral line of 50.0, the RSI suggests that XRP is still in the bearish zone. This indicates a lack of bullish momentum, which could prevent the altcoin from seeing any significant rallies in the near term.
In addition, the broader market sentiment continues to be bearish, which further impacts XRP’s potential for recovery. Unless the market turns around or the altcoin finds new sources of demand, XRP’s price will likely remain suppressed.
XRP’s price is currently at $2.10, holding above the $2.02 support level but facing resistance at $2.16. The ongoing downtrend that has persisted since the beginning of the year continues to weigh heavily on the altcoin. If the price fails to break through the resistance level, XRP may try to push higher.
The current market conditions could prevent XRP from surpassing $2.16. However, if the price loses the $2.02 support, it may drop to the next support level of $1.94. Should this happen, the altcoin could experience a more significant decline, potentially reaching as low as $1.79.
Alternatively, if XRP manages to breach the $2.16 resistance, it could rally towards $2.27. With a change in investor sentiment and market conditions, this could propel the altcoin to $2.40, invalidating the bearish outlook.
