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↕️Two-Way Volatility Drive Heavy Crypto Liquidations

The Defiant

DeFi Alpha

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Resurging volatility drove more than $230M worth of liquidations, with longs making up the bulk of affected positions. Most leading assets are trading within reach of their year-to-date highs, and Bitcoin's dominance over the broader crypto markets continues to grow.

In other news, institutional investors are hedging their crypto bets, EigenLayer raised its deposit limits, Coordinape deployed a social platform for crypto professionals, hackers nabbed $830,000 from Aurory, and the ApeCoin DAO has recovered dozens of stolen apes.

Plus, crypto industry leaders have raised $78M for a Political Action Committee to lobby lawmakers.

✍️ In today’s newsletter:

  • 100,000 traders margin called
  • Institutional investors break extended inflows
  • EigenLayer raises LST deposit cap
  • Coordinape launches pro social networking
  • Hackers ransack Aurory
  • Boring Security saves 56 apes
  • Crypto leaders pool $78M for U.S. lobbying

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🎬 WATCH

Check out our recent interview with a 13-year-old crypto VC to get his bullish thesis for Eigenlayer and restaking. And watch our podcast with Chris Bradbury, the CEO of Summer.fi, to learn about the project's recent rebrand from Oasis.app and what the move means for users.

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