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BTC $76,902.30 -1.47%
ETH $2,119.02 -2.97%
BNB $639.91 -2.16%
XRP $1.38 -2.20%
SOL $84.72 -2.20%
TRX $0.3556 +0.32%
DOGE $0.1041 -5.48%
ADA $0.2496 -2.35%
BCH $364.49 -12.08%
LINK $9.46 -3.10%
HYPE $45.47 +6.22%
AAVE $88.37 -2.56%
SUI $1.03 -3.05%
XLM $0.1475 -2.66%
ZEC $529.41 +2.58%

listing

first_img Kaiko Report: Multiple tokens experienced unusual trading activity before the announcement of their listing on Robinhood

According to a report by the analysis firm Kaiko on Monday, the open interest, funding rates, and on-chain trading patterns in the perpetual contract market indicate that some traders may have positioned themselves ahead of the announcement of the Robinhood cryptocurrency listing. The report highlights the most obvious case of wallet address 0xa1E, which opened a long position in Lighter (LIT) on Hyperliquid at 11:05 AM on January 15, about an hour before Robinhood announced the listing of the token, and this wallet subsequently closed the position after the announcement.The same address also opened a short position in HOOD a few hours before Robinhood reported lower-than-expected first-quarter revenue on April 28. Several tokens, including ZEC, SNX, and NEAR, experienced abnormal spikes in open interest and funding rates, as well as price drift, before their listing announcements. Researcher Fraussen told Cointelegraph that traders who understand microstructure may have noticed public signals such as rising funding rates and increased trading volume and positioned themselves accordingly, but this type of positioning is statistically consistent and has repeatedly occurred across multiple events, reflecting privileged access to Robinhood's listing pipeline or a highly reliable front-running method based on public signals.

Spark: The delisting of rsETH assets in January had caused strong dissatisfaction among ETH leveraged users, but it has now been proven to be a prudent strategy

The head of the Spark Protocol strategy, monetsupply.eth, posted on platform X stating that in January of this year, low-usage assets like rsETH were removed and collateral and functionality were continuously tightened. This move sparked strong dissatisfaction among "ETH leveraged" users at the time.Additionally, Spark has long set a high upper limit on interest rates in the ETH lending market, transferring some business and revenue to Aave over the past year (where its ETH borrowing rate once dropped to 10% or below). However, in the current market crisis environment, this strategy has proven to be more prudent. Currently, SparkLend still maintains sufficient ETH withdrawal liquidity, while Aave has experienced liquidity tightness and even "lock-up" situations in the Ethereum mainnet and multi-chain markets like Arbitrum and Base.monetsupply.eth further warned that since ETH is the core collateral asset, when market utilization reaches 100%, collateral liquidation will not be able to execute normally. The depletion of liquidity not only affects the depositor experience but may also pose systemic risks. In the current situation of insufficient liquidity in Aave, a 15%-20% drop in ETH prices could lead to significant bad debt accumulation (in addition to the potential impact of the rsETH incident).
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