circular

The founder of the Solana landing service analysis platform Circular, Ben, stated that he believes the trading terminal Axiom charges traders through misleading "validator bribes" and routes the related funds to the landing service Lunar under HelloMoon. Ben mentioned that since April, the bribes paid by Axiom traders to Lunar amount to approximately $55.7 million, but the latest 30-day analysis shows that only about 1% can be traced back to additional on-chain validator incentives, and he inquired whether Axiom shares in this tip revenue.Circular claims that it reconstructed the activities related to Lunar and Axiom from April 26, 2026, to October 19, based on on-chain payment flows: during this period, Lunar received 530,166 SOL in bribes, valued at approximately $55.67 million based on its quoted price of $105/SOL, corresponding to 189 million successful payments of bribes to Lunar from Axiom transactions. In the last 30 days, 45 million Axiom transactions made payments to Lunar, accounting for 80.6% of successful Axiom transactions; Lunar received 138,964 SOL, approximately $14.59 million, of which about 1,579 SOL was attributed to additional on-chain validator incentives, accounting for 1.14%.Ben also cited on-chain cases from September 26 and October 7, stating that after he paid bribes as suggested by the Axiom interface, the identifiable additional priority fee increase was about 1% of the amount paid to Lunar. He indicated that Axiom controls transaction routing and fee recommendations and has published its associated Lunar address on GitHub for verification. The above content represents Circular's on-chain statistics and personal judgment, and the post also states that the related proportions do not exclude other service costs or off-chain payments, and its estimate of the platform's revenue share is not based on tracked payments to Axiom.

The decentralized stablecoin USDD announced the addition of TRX exclusive bonuses to the s USDD market on Pendle, while also increasing the base USDD rewards. The additional benefits include 22,000 USDD and 13,000 TRX, as well as Pendle market rewards (approximately 30% of the value of USDD and TRX rewards). The event will run from now until July 30 at 08:00 (Singapore time).USDD officials particularly remind users that they can take advantage of the current good liquidity and low borrowing costs of the Morpho PT -s USDD / USDT pool to enhance asset utilization and further maximize returns. With this round of USDD incentives, the s USDD YT end returns are expected to reach new highs. Users are advised to seize the window of opportunity and lock in higher yield opportunities through Morpho's circular lending as soon as possible.

According to on-chain analyst Yu Jin's monitoring, 15 minutes ago, an on-chain whale borrowed 30 million USDS from Spark through a circular loan collateral and then purchased 18,212 ETH at an average price of 1,647 USD.

According to Onchain Lens monitoring, a dormant whale "0x280" for 3 years deposited 38,550 ETH in Aave V3, borrowed 90,000,000 USDT, and used circular lending to buy 54,092 ETH at an average price of $1,664.Currently, this whale address holds a total of 92,646 ETH, with a total value of approximately $146.55 million.

According to Onchain Lens monitoring, a certain whale has become active again after being silent for 3 years, depositing 20,000 ETH (approximately 33.28 million USD) out of the 38,554 ETH (approximately 64.28 million USD) it holds into Aave V3, borrowing 30 million USDT, and purchasing 17,826 ETH at a price of 1,683 USD each for a circular lending operation. Currently, this whale holds a total of 56,380 ETH, valued at approximately 94.04 million USD.

According to OnchainLens monitoring, a certain whale deposited 3,500 ETH (worth 8.26 million USD) into Aave V3, borrowed 8 million USDC, purchased 3,386 ETH at a price of 2,363 USD, and deposited it back into Aave V3. Currently, this whale holds 6,886 ETH, worth 16.22 million USD.

According to Arkham monitoring, former Multicoin co-founder Kyle Samani deposited a total value of $10 million in PRIME into Kamino Finance and used it as collateral to borrow $8,600,000 USDC.He pays an annualized yield of 39.4% on USDC, but earns an annualized yield of 56.4% on PRIME. Kyle Samani is an experienced user of Solana DeFi.

According to Onchain Lens monitoring, a whale involved in circular lending has further purchased 985.5 XAUT in the past 24 hours, spending 4.98 million USDe. Currently, this whale holds 11,029.5 XAUT, worth 55.98 million USD, with an unrealized profit of 5.86 million USD.

According to OnchainLens monitoring, as gold briefly broke through $5,000, a whale employing a circular lending strategy purchased an additional 604.65 XAUT using $3 million USDe in the past 24 hours. Currently, this whale holds a total of 10,044 XAUT, worth approximately $50.2 million, with an unrealized profit of about $5.07 million.Address: 0x85220e6aa75238ba9c80353c6330ebee5142230e

According to Lookonchain monitoring, a newly created address (0x81d0) withdrew 10,057 ETH from Binance, worth 33.68 million USD, and then staked it on Lido to obtain stETH.The address deposited stETH into Aave, borrowed 45 million USDT to buy 13,461 stETH, and then deposited that stETH back into Aave.

According to monitoring by @Onchain Lens, the whale address "0xa339" established a long position in ETH through circular borrowing and recently sold 10,002 ETH again, with a transaction amount of approximately 29.38 million USD, exchanging for USDC.Statistics show that this address has sold a total of 50,623 ETH, with an average transaction price of about 2,921 USD, totaling approximately 147.88 million USD in USDC and USDT, achieving an overall floating profit of over 15 million USD.

According to Lookonchain monitoring, a certain whale (address: 0xa339) sold 20,599 ETH (worth $59.1 million) at a price of $2,869 to repay a loan. This whale previously took a long position on ETH through a circular lending strategy.Currently, this address still holds 30,000 ETH (worth $85.2 million) on the Aave platform, with an outstanding debt of 15.7 million USDT.

According to AI Aunt's monitoring, the smart money 0xA33...AE12C, which went long at the ETH bottom of $1729, has started to reduce its position, choosing to unwind some leverage and take profits ------ on April 23 of this year, this address bought 19,973 ETH on-chain (worth $34.54 million at the time), with a total long position in ETH reaching as high as 50,000 ETH.In the past 2 hours, it sold 9999.95 ETH at an average price of $2921.35, making a profit of $11.92 million. Currently, it has also collateralized 40,597 WETH on Aave to borrow $39.05 million.

According to on-chain analyst Ai Yi (@ai 9684xtpa), an Ethereum whale investor has recently withdrawn a total of 21,850.15 ETH (approximately 70.6 million USD) from exchanges, with an average withdrawal price of 3,231 USD, currently facing an unrealized loss of about 6.246 million USD.The most recent operation occurred 6 hours ago, withdrawing 2,000 ETH (approximately 5.84 million USD). The investor has distributed the ETH across 5 wallets, with wallet address 0xce9...57c69 in a loop-long position, having staked 18,706.9 ETH to borrow 31.34 million USDT, with a health score of 1.41.

According to EmberCN monitoring, during the sharp drop on October 11, a giant whale of circular loans was liquidated at a price of 101 USD for 32,000 AAVE. Starting from November 24, this whale continued to purchase AAVE through circular loans. In the past half month, this whale has spent 14 million USDC to buy 80,900 AAVE, with an average price of 173 USD.Now, through circular loans, it holds a total of 333,000 AAVE (worth approximately 62.59 million USD), with an overall cost of 167 USD and a liquidation price of 117.7 USD.

According to Ember Monitoring, a certain whale that has been hoarding WBTC and ETH through a revolving loan method is gradually reducing its holdings of WBTC after selling 18,517 ETH at a loss of 25.29 million dollars.In the past week, it sold 350 WBTC at an average price of 87,732 dollars, exchanging them for 30.7 million USDT, with an average cost price of 116,762 dollars, resulting in a loss of 10.16 million dollars on the sold WBTC.The whale still holds 1,210 WBTC, which has an unrealized loss of 30.9 million dollars.

According to on-chain analyst Yu Jin's monitoring, as Bitcoin has recently undergone a deep correction, a whale that purchased 700 WBTC through a circular loan four months ago is nearing liquidation. Today, they have cut their losses and closed their position, with a loss amounting to 21.68 million dollars.