dYdX Acquires Key Ecosystem Teams to Accelerate Product-Led Growth

April 2025 marks the launch of one of the most anticipated events in the crypto world: Gate.io’s World Crypto Trading Competition Season 7 (WCTC S7). Recognized as one of the most prestigious trading competitions globally, WCTC S7 introduces innovative formats, generous rewards, and diverse activities to offer an unparalleled trading experience for crypto enthusiasts worldwide.

Racing to the Top: Showcasing Gate.io’s Commitment to Excellence

As one of the global leaders in digital asset trading, Gate.io has demonstrated impressive growth in recent years, now boasting over 22 million registered users. Its spot and futures trading businesses rank among the Top 2 and Top 5 globally, respectively. 

With continued advancements in product experience, asset security, innovation, and global expansion, Gate.io has earned the trust of traders around the world.

In terms of brand building, Gate.io continues to make significant strides. Over the past two years, the platform has sponsored multiple international sports brands and, in 2025, officially became a sponsor of Oracle Red Bull Racing in F1. Known for its speed, technology, and pursuit of excellence, F1 shares a natural synergy with the world of crypto trading.

Inspired by this spirit, WCTC S7 adopts an F1-themed design to symbolize Gate.io’s core trading philosophy: speed, precision, and stability. F1 is more than a sport — it is a symbol of pushing limits and striving for greatness. Gate.io brings this spirit into the world of cryptocurrency trading, making WCTC S7 not just a competition, but a world-class event for global traders.

Top-Tier Competition: $5 Million Dynamic Prize Pool

Early bird registration for Gate.io WCTC S7 officially opened on April 15, with a dynamic prize pool of up to $5 million. This season features both team and individual competitions, alongside exciting events like surprise airdrops, offering participants multiple ways to engage and win. 

Competition Timeline:

• Early Bird Registration: April 15, 00:00 – April 21, 00:00 (UTC)
• Lucky Bags Rain: April 15, 00:00 – June 8, 00:00 (UTC)
• Official Registration: April 21, 00:00 – June 8, 00:00 (UTC)
• Individual Competition: May 7, 00:00 – June 8, 00:00 (UTC)
• Team Competition(First Half): May 7, 00:00 – May 23, 00:00 (UTC)
• Team Competition(Second Half): May 23, 00:00 – June 8, 00:00 (UTC)

Team Battle: Two-Stage Challenge for the Ultimate Prize

The team competition accounts for 80% of the total prize pool, with up to $4 million to be shared. It introduces a “two-stage” system, resetting performance data halfway through the competition. This allows teams to recalibrate strategies and compete for Top 20 rankings in each stage independently.

In addition, the team with the highest total trading volume will win the grand prize — a Ford Mustang GT, an iconic symbol of victory and prestige.

Individual Competition: Tiered Rewards for 1,000+ Traders

The individual competition accounts for 20% of the prize pool, offering up to $1 million in rewards. Based on cumulative trading volume, the top 300 participants will share $1 million in cash, with higher ranks earning greater rewards. Participants ranked 301–700 will receive exclusive merchandise bundles, while those ranked 701–1000 will share $20,000 worth of Futures Vouchers.

Airdrop Showers: 100% Winning Rate and Collectible Fragment Game

During the competition, participants can join airdrop events with a guaranteed 100% winning rate. Prizes include trading fee rebate vouchers, Futures Vouchers, and chances to win physical rewards through “Hourly Airdrops” and “Super Airdrops,” featuring fragments of iPhone 16 Pro Max, popular tokens, and fragments of limited-edition merchandise like jackets and co-branded insulated bottles.

Participants can also collect WCTC S7-exclusive fragments to share a $10,000 Futures Voucher Pool.

Accessible for All: Balancing Inclusivity and Exclusivity

The competition is designed for broad participation. Whether joining a team or individual contests, users can choose according to their preferences. The “every participant wins” design of the airdrop event ensures that even newcomers can easily join and win prizes, while the collectible fragment gameplay offers seasoned traders a deeper and more engaging experience.

Join WCTC S7 and Embark on Your Journey to Glory

Gate.io WCTC S7 is now underway, welcoming traders from all corners of the world. Here, you’ll compete alongside top traders globally. Here, you’ll have the chance to share in a $5 million prize pool. Here, you’ll experience an unprecedented trading extravaganza.

Whether you’re a newcomer or a seasoned trader, WCTC S7 offers the perfect stage to showcase your skills. Sign up now to be part of WCTC S7, chase your trading dreams, and embark on your journey to glory. For more details, please check the official announcement link.

Disclaimer

The content herein does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please be noted that Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement.

The post Gate.io Kicks Off WCTC S7: Race for a $5 Million Prize Pool and a Ford Mustang GT appeared first on BeInCrypto.

Shiba Inu (SHIB) is showing early signs of recovery, gaining ground from recent lows as its RSI rebounds and key support levels hold. Despite these positive signals, SHIB failed to break above the RSI 51 mark and continues to face pressure from bearish EMA alignments.

At the same time, whale activity has been steadily declining, suggesting reduced confidence from large holders and raising questions about long-term support. With price action stuck between major support and resistance zones, SHIB’s next move will likely depend on whether momentum strengthens—or fades once again.

Shiba Inu Momentum Improves, But RSI Rejection Signals Caution

Shiba Inu has seen a shift in momentum, with its Relative Strength Index (RSI) rising to 47 from 30.18 just three days ago, signaling a recovery from near-oversold conditions.

However, it’s worth noting that SHIB failed to break above the 51 RSI mark yesterday, suggesting that bullish momentum remains fragile for now.

While the recent bounce reflects easing selling pressure, the inability to push into clearly bullish territory indicates ongoing hesitation among buyers.

The RSI, or Relative Strength Index, is a momentum oscillator that gauges the speed and magnitude of price changes, helping identify overbought or oversold conditions.

Readings below 30 point to oversold levels, while values above 70 suggest overbought territory. With SHIB’s RSI now sitting at 47, the asset remains in a neutral zone—neither overextended nor deeply discounted.

This mid-range positioning leaves room for either a breakout or a reversal, depending on how price action develops around current resistance and support levels.

Decline in SHIB Whales Signals Potential Weakness Ahead

The number of Shiba Inu whales—wallets holding at least 1 billion tokens—has been gradually declining since June 11, falling from 10,259 to 10,231.

While the drop may seem modest, it reflects a slow but steady reduction in large holder participation, which could signal weakening confidence among major players.

A consistent downtrend in whale activity often correlates with diminished support during volatile phases, making SHIB more vulnerable to price swings.

Tracking whale behavior is critical because large holders can influence price movements through sudden buys or sells. A rising whale count often suggests accumulation and long-term confidence, while a declining number may imply distribution or exit.

With SHIB whale wallets shrinking, it could indicate that major investors are either taking profits or hedging against further downside.

If this trend continues, it may add pressure on SHIB’s price, especially if retail interest fails to offset the whale outflows.

SHIB Holds Key Support, But Bearish EMAs Keep Bulls in Check

Shiba Inu price recently tested and held the key support level at $0.0000119, offering a temporary floor despite broader bearish signals.

The token’s Exponential Moving Averages (EMAs) remain in a bearish alignment, with short-term EMAs positioned below long-term ones—indicating ongoing downward pressure.

If this support is retested and fails to hold, SHIB could slide toward the next critical level at $0.0000114, potentially opening the door for further downside.

However, if sentiment shifts and SHIB manages to build upward momentum, the price could challenge the immediate resistance at $0.0000128.

A breakout above this level may trigger a rally toward $0.0000136, and if buying pressure continues, even a push to $0.0000146 is possible.

For now, SHIB is trapped between crucial support and resistance zones, and a clear break in either direction will likely define its short-term trajectory.

The post Why Shiba Inu (SHIB) Price Remains Weak Despite Positive Indicators appeared first on BeInCrypto.

In crypto trading, the promise of massive gains often comes with the risk of heavy losses. Over the years, several high-profile crypto traders have made headlines for their bold bets, only to see their fortunes crumble when the market turned against them. 

From Bitcoin (BTC) to Ethereum (ETH), the crypto market has proven to be a double-edged sword. Millions can be made or lost in just hours, and traders are left to deal with the fallout from their high-risk moves. Here are the stories of three crypto traders who wiped out millions:

James Wynn

James Wynn, a pseudonymous trader on Hyperliquid, has become one of the most discussed figures on crypto Twitter (now X) due to his high-risk, high-reward trading style.

Wynn started trading on Hyperliquid in March 2025. He amassed significant profits through his bold trading strategies.

“Since I began trading this year on HyperLiquid I have made a total profit of $41,696,589.75 (on-chain). Next goal is $1bn. Not for the money. But for the legacy. Unlikely I’ll do it this cycle unless I went max degen on shorting the top, which I’m probably the only person with this kind of wealth who’s willing to turn it up on 40x leverage and put a significant % on the line,” Wynn said on May 9.

The trader had several successful trades. On May 24, he booked a $25.18 million profit from a long position in kPEPE and $16.89 million from a long Bitcoin position. Other notable trades included a $4.84 million profit from Fartcoin (FARTCOIN) on May 13 and a $6.83 million profit from Official Trump (TRUMP) on May 12.

Wynn’s profits peaked at over $87 million in late May. However, this was short-lived, as the trades began to backfire soon after. Wynn faced a series of significant setbacks. 

On May 23, he lost $3.69 million from a long Ethereum position and $1.59 million from a Sui (SUI) long position. Two days later, on May 25, he suffered a $15.86 million loss from a short position in BTC. 

“James Wynn has wiped out almost all his profits on Hyperliquid. It took him 70 days to go from 0 to $87 million+ in profit, and only 5 days to lose almost all the $87 million+ in profit,” Lookonchain posted on May 28.

Despite losing it all, Wynn’s bets continued. The largest blow came on May 30, when a long BTC position resulted in a loss of $37.41 million. Wynn’s losses extended into May 31, with an additional $1.20 million lost from another BTC long position.

Finally, on June 5, Wynn lost $2.81 million on a BTC long position, bringing his total losses to $20.4 million.

“I closed my position. Defeated accepted. MM’s 1-0 Wynn,” he stated.

At the time of writing, Wynn’s performance showed a win rate of 40.48%, with 17 successful trades out of 42.

Anonymous ETH Whale

Wynn’s downfall is part of a larger trend, with other crypto traders also losing millions. In March 2025, an anonymous cryptocurrency trader, identified by the wallet address 0xf3F496C9486BE5924a93D67e98298733Bb47057c, suffered a staggering $308 million loss after a 50x leveraged long position on ETH was liquidated. 

The trader had opened the position when ETH was trading at $1,900, with a liquidation price of $1,877. However, amid heightened market volatility driven by global tariff concerns, ETH’s price plummeted, liquidating 160,234 ETH.

Lookonchain reported that the whale had rotated all their Bitcoin holdings into this leveraged ETH trade, amplifying the risk.

“Crazy! This whale has switched all of his long BTC positions to long ETH,” the post read.

Leveraged trading, which uses borrowed funds to magnify both gains and losses, proved disastrous in this case, as a small price movement wiped out the trader’s entire position. 

Meanwhile, the trader has not opened any positions on Hyperliquid since late March.

Hui Yi

While leveraged bets have led to massive financial losses, they have also tragically resulted in the loss of life. In June 2019, Hui Yi, the co-founder and CEO of the cryptocurrency market analysis platform BTE.TOP reportedly took his own life.

Yi’s distress was believed to be caused by his involvement in a failed 100x leveraged short position on 2,000 Bitcoins. The extreme leverage amplified his losses, making his position highly vulnerable to even minor price fluctuations.

There was also speculation that the 2,000 Bitcoins might have belonged to clients. Some even suggested that Yi may have faked his death to avoid repayment. However, no evidence supported these theories.

An ex-partner confirmed Yi’s death. This tragic incident highlighted the psychological toll of leveraged trading and the dangers of using excessive borrowed funds in the volatile crypto market.

The post Crypto Trading Gone Wrong: How These 3 Traders Wiped Out Millions appeared first on BeInCrypto.