Jack Yi, founder of LD Capital, said altcoin futures trading is a guaranteed losing game because altcoins are already high-risk assets. Yi said he has recently seen many traders get liquidated on altcoin futures.
BIT-Linked Whale Shows $36M Unrealized Profit on BTC and ETH Longs
Lookonchain reported that a whale address linked to crypto financial services firm BIT is sitting on more than $36 million in unrealized profit from long positions in 120,000 ETH and 700 BTC. The reported positions include a 15x leveraged ETH long worth $165 million and a 20x leveraged BTC long worth $51.97 million.
On-chain analyst ai_9684xtpa said whale address bill.eth sold 3,285 ETH worth $7.79 million about an hour ago at an average price of $2,372.24. Since March 8, the address has sold 8,771 ETH worth $19.14 million at an average price of $2,182.
Gate data showed gold rose 0.61% to $4,769.71 per ounce and silver rose 0.58% to $75.989 per ounce. WTI crude fell 1.09% to $97.03 per barrel, while BVIX and EVIX also moved lower.
msx.com data showed U.S. stocks closed higher and crypto-linked names rose across the board, led by Circle with a 12.09% gain. The Dow rose 0.63%, the S&P 500 gained 1.02%, and the Nasdaq added 1.23%.
South Korea's KOSPI index rose 3.20% from yesterday and briefly reclaimed the 6,000 level during intraday trading for the first time since March 3. The index was trading at 5,994.78 at the time of the report.
Bitcoin rose to $74,901, its highest level in four weeks, as hopes for a US-Iran deal lifted risk assets. Bitcoin later traded around $74,400 at 8:30 a.m. Tuesday in Singapore. Ether rose 5% to $2,370 as smaller tokens also advanced.
NHN KCP Signs MOU With Ava Labs to Build Payments Layer 1 on Avalanche
NHN KCP signed an MOU with Ava Labs to build a payments-focused Layer 1 on Avalanche. The planned network would use Ava Cloud to support sub-one-second payment authorization. Ava Labs Head of Asia Justin Kim said the launch date largely depends on pending crypto regulation in South Korea.
FBI, Indonesia Dismantle W3LL Phishing Network Linked to $20M in Fraud Attempts
FBI Atlanta and Indonesian National Police dismantled the W3LL phishing network and seized infrastructure tied to more than $20 million in fraud attempts. Authorities said the operation was the first US-Indonesia law enforcement effort to shut down a hacking platform. Authorities also detained the alleged developer in Indonesia.
Saudi Arabia Urges U.S. to End Hormuz Blockade Over Bab el-Mandeb Risk
Saudi Arabia urged the United States to end its Strait of Hormuz blockade as the kingdom warned that retaliation could threaten about 7 million barrels of daily oil exports through Bab el-Mandeb. Trump imposed a blockade on Iranian ports on Monday. Arab officials said Iran is pressuring Yemen's Houthi rebels to close the Bab el-Mandeb Strait. Previous Iranian attacks in the Strait of Hormuz disrupted about 13 million barrels of daily oil exports and pushed oil above $100.
Totalis Raises $500,000 as YC Makes First USDC-Only Investment
Totalis completed a $500,000 seed round with participation from Y Combinator and became the first company to receive YC investment entirely in USDC. The funds were settled on the Solana network and held in custody by Ramp. YC CEO Garry Tan said future YC investment payments will be made in stablecoins rather than through ACH or wire transfers.
NHN KCP Signs Ava Labs MoU for Avalanche Payment Layer 1
NHN KCP signed a Memorandum of Understanding with Ava Labs to develop a payment-focused Avalanche Layer 1 network. The project targets sub-second payment authorization and on-chain encrypted transaction data. Justin Kim said the launch timing depends on pending cryptocurrency bills in South Korea.
BlackRock withdrew 2,004 BTC from Coinbase over the past 7 hours, with the transfer valued at about $144.82 million. Onchain Lens monitored the movement.
Lighter said it will launch a Liquidity Partner Program for users who provide liquidity for RWA assets on its platform. The covered asset categories include crude oil, precious metals, and U.S. stocks.
On-chain analyst Yu Jin said Machi Big Brother holds a $29 million ETH long position with a $2.14 million floating profit. Yu Jin said the position was opened at $2,195, while ETH was trading at $2,365 after an 8% one-day rise.
CoinMarketCap's Altcoin Season Index fell five points from yesterday to 32. CoinMarketCap defines an altcoin season as a period when 75% of the top 100 coins outperform Bitcoin over the past 90 days.
Ether rose 20% to $2,330 from its March 29 local low of $1,940, and CryptoQuant analyst CW8900 said wallets holding more than 100,000 ETH returned to unrealized profit. A rounded-bottom setup set $2,400 as the breakout level for a measured target of $2,940.
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