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According to Onchain Lens monitoring, in the past 24 hours, STO has risen over 200%. A newly created wallet withdrew 11.76 million STO from Binance, worth 2.94 million USD. Currently, the value of these tokens is 6.99 million USD, and the wallet has gained 4.05 million USD in less than 24 hours.

According to Onchain Lens monitoring, the newly created wallet "0x9d3" deposited 19.6 million USDC into HyperLiquid to long CL ($25.67 million) and BRENTOIL ($15.60 million), currently facing an unrealized loss of over $2.3 million.

According to CoinDesk, the gap between Bitcoin's spot price and its realized price (the average cost basis of all on-chain tokens weighted by their last transaction time) is narrowing, approaching the levels seen at the bottoms of past cycles. However, on-chain data shows that the market has not yet experienced a typical capitulation sell-off. Currently, Bitcoin's realized price is about $54,286, the spot price is about $68,774, and the premium is about 21%. The bottom signal of the 2022 bear market was when the spot price fell below the realized price, which occurred when the spot was about 15% lower than the realized price at the cycle low.The current 21% premium indicates that the average holder is still in profit. To reach the realized price, Bitcoin would need to drop about 20% to $54,000. Notably, the speed of the premium's contraction, from about 120% at the end of 2024 to 21% after 15 months, is the fastest approach to the realized price line outside of a market crash.Other on-chain signals also indicate that the market has not completed its reset: the Coinbase premium index has returned to negative values, suggesting weakened institutional demand. Analysts believe that although Bitcoin has maintained a range of $65,000 to $70,000 for five weeks, the inflow of over $1 billion into ETFs in March shows there are buyers, but the market has not yet gone through the painful process that historically marks a bottom.

According to official news, SWIFT (Society for Worldwide Interbank Financial Telecommunication) has announced significant progress in its blockchain-based shared ledger project, having completed the design phase with several global banks. It has now officially entered the construction phase of the first Minimum Viable Product (MVP) iteration and plans to launch real transactions within 2026.The ledger aims to achieve interoperability of tokenized deposits between banks and supports 24/7 cross-border payments. Functionally, the ledger supports executing payments using tokenized deposits, reuses existing compliance processes, and is compatible with various settlement methods.SWIFT stated that the core advantages of this ledger include: accelerating payment execution speed, enhancing liquidity visibility, reducing reconciliation workload, and achieving interoperability across institutions. Currently, SWIFT is simultaneously collaborating with banks internationally to accelerate the financial industry's transition to digital finance.

Vergex and Z.ai jointly launched GLM-5 Trading Odyssey, open to developers and traders. Participants can build trading agents based on the GLM model, operating in real markets with real returns as the core evaluation standard.This event differs from traditional AI trading tools, as participants will directly enter real execution scenarios. Vergex, as the AI Trading Harness, provides strategy conversion, constraint validation, and risk control, addressing the challenges of AI trading black boxes and uncontrollable execution. Its open-source project NoFx has received over 11,000 stars on GitHub, providing the technical foundation for this event.It is reported that Z.ai was established in 2019 and is a leading foundational model company. GLM-5 ranks first in the Artificial Analysis Intelligence Index open-source model list, and the upcoming GLM-5.1 is expected to improve performance by about 50% compared to its predecessor. Both parties are promoting AI Trading from model capabilities to production-level systems.

According to CoinDesk, Aave has officially launched the v4 upgrade version on Ethereum after about two years of development, introducing a new architecture that separates the lending markets while sharing liquidity, aiming to expand DeFi from crypto-native lending to real-world assets and institutional use cases.The v4 version changes the way Aave organizes its markets, allowing different types of lending markets to operate independently while sharing the same liquidity pool, enabling users to conduct lending operations on assets beyond crypto tokens in the future. Aave Labs founder Stani Kulechov stated that lending is based on trust and needs to reflect market conditions. He also pointed out that this upgrade facilitates other teams to develop and expand on top of the protocol.In terms of capital efficiency, the v4 version can also reinvest idle funds within the system. The upgrade launched with a limited set of markets and conservative parameter settings, with more features to be added gradually following governance resolutions. This launch coincides with governance disputes within the Aave ecosystem regarding decentralization and revenue distribution issues.

According to monitoring by lookonchain, a giant whale address deposited 1,102 BTC (approximately $74.21 million) into Binance. This Bitcoin holding was purchased 8 months ago at a price of $117,770, and currently has an unrealized loss of about $55.6 million (-43%).

According to monitoring by an on-chain analysis platform, a whale deposited 1,102 BTC (approximately $74.21 million) into Binance. This chip was purchased 8 months ago at an average price of $117,770, and this sale resulted in a loss of about $55.6 million, a decline of 43%.

According to crypto analyst Yu Jin @EmberCN, a whale opened a long position of about 1.38 million HYPE at a price of $38.6 last year, with a position size of approximately $53.3 million.During the subsequent market correction, HYPE once dropped to about $20, and the address avoided liquidation by adding margin, with an unrealized loss peaking at around $26 million. The current HYPE price has risen above the opening price, and the position has turned into an unrealized profit of about $440,000.

According to Bloomberg, the Bank of Montreal (BMO) announced the launch of tokenized cash and deposit services for institutional clients through the network of the largest derivatives exchange in the U.S., CME Group. This service allows clients to bypass traditional banking hours and achieve continuous fund transfers around the clock. Derek Vernon, Head of North American Treasury and Payment Solutions at the Bank of Montreal, stated, "Clients will be able to transfer funds whenever the market demands, rather than being restricted by banking hours."

Bybit Alpha and Byreal have launched the BP-USDC on-chain liquidity mining pool, with a current annual percentage rate (APR) of approximately 947%, providing users with opportunities for on-chain liquidity mining returns.

Bybit Alpha and Byreal now support Backpack (BP) trading.BP is the native token of Backpack Exchange. The current price of BP is $0.23, with a market cap of $236.35M.

Byreal has recently launched three new liquidity management features:AutoSwap allows users to open LP positions by depositing a single token, with the system automatically completing token swaps and executing optimal paths without manual operation;The Compound feature enables users to reinvest LP fee earnings back into the current position with one click, achieving continuous rolling of profits;The Rebalance feature supports adjusting liquidity to a new price range with one click, reducing position deviation risk and maintaining continuous market-making profits.Byreal is a Solana-native DEX incubated by Bybit, focusing on on-chain trading of RWA assets and a Copy-Farming mechanism, with AI Agent friendliness. The core goal of these three updates is to lower the operational threshold for LPs.

Electric Capital's latest research report reviews 501 real-world revenue sources and finds that only 34 of them have on-chain scales exceeding $50 million, primarily concentrated in U.S. Treasury bonds, private credit, and corporate bonds. The remaining 93% are hindered by seven major obstacles, including legal structures and entity integration issues.The report points out that distribution channels are the biggest bottleneck. Among the 35 non-stablecoin RWAs with on-chain revenue, only two have more than 2,000 holders, and the top assets are highly concentrated. For example, in BlackRock's BUIDL, the top ten holders control 98% of the supply.

According to Lookonchain monitoring, the address 0x2607 belongs to a whale that extracted 11,950 ETH from Binance about 7 months ago at an average price of $4,295, with a total value of approximately $51.32 million at that time, close to the peak of that phase.As of now, the current value of this batch of ETH is approximately $24.55 million, resulting in a paper loss of about $26.77 million, a decline of about 52%. Today, the whale transferred all 11,950 ETH to a new wallet, and they have not yet sold it.