Fireblocks: Struggle for Stablecoin Dominance Set to Enter Third Rounds

[The largest ZEC short position on Hyperliquid incurs a floating loss of $20 million, adds $5 million in margin] On November 16, HyperInsight monitoring revealed that the largest ZEC short position on the Hyperliquid platform has been held for over a month. Early this morning, the account transferred 5 million USDC to increase its margin. The 5x leveraged ZEC short position was opened at a price of $360, while the current ZEC price is $686, with a liquidation price of $1,084. The floating loss has risen to $20 million. Additionally, the address has also opened a 15x leveraged ETH short position worth $26 million, currently showing a floating profit of $7 million, with an opening price of $4,094.

[WisdomTree Executive Says Crypto Index ETFs Could Fill Market Gaps] Will Peck, Head of Digital Assets at WisdomTree, stated that ETFs holding diversified cryptocurrency portfolios could fill significant market gaps in the coming years and become one of the waves driving cryptocurrency adoption. He believes that multi-asset cryptocurrency baskets allow users to gain exposure to the entire industry while mitigating the idiosyncratic risks of investing in individual tokens. Several crypto index ETFs have already been launched this year. Asset management firm 21Shares announced on Thursday the launch of the 21Shares FTSE Crypto 10 Index ETF (Ticker: TTOP) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (Ticker: TXBC). Both provide broad investment exposure by tracking FTSE Russell cryptocurrency indices, with TXBC excluding Bitcoin.

On chain monitoring shows that CryptoHayes, co-founder of BitMEX, sold some ETH and ecological tokens. Five hours ago, he transferred 520 ETH (1.66 million US dollars), 2.624 million ENA (730000 US dollars), and 132000 ETHFI (120000 US dollars) to platforms such as Flowdesk, FalconX, and Wintermute; 50 minutes ago, 10 LDOs were transferred to Falcon X for testing, and it is expected that LDOs may continue to be sold in the future. At present, the flow of funds shows that CryptoHayes is increasing its position in ZEC. (Ashes)

OKX-BTC/USDT is currently trading at $949-0.70, with a 5-minute drop of 0.07%. Please be aware of the market fluctuations.

[A Certain Whale Takes Large Short Positions on BTC, XRP, and ZEC, Total Value Exceeds $190 Million] On November 16, according to monitoring by Lookonchain, a certain whale has taken large short positions on BTC, XRP, and ZEC, with a total value exceeding $190 million. The specific positions are as follows: - 40x short on BTC, position value $148 million, opening price $96,065.2, liquidation price $97,560.2; - 20x short on XRP, position value $27.3 million, opening price $2.225, liquidation price $2.5; - 10x short on ZEC, position value $20.6 million, opening price $652, liquidation price $775.