💵Stablecoin Future & Hyperliquid Drama

GM, let’s hope you weren’t hyperliquidated.

Besides another huge Hyperliquid drama with whales liquidating themselves on JellyJelly (explained here), everything looks pretty promising.

Bitcoin still might dump lower from here, but the longer we stay above $76k, the better the odds of it being the ultimate low.

Besides that, there’s a huge narrative brewing around stablecoins at the moment. Not only is the total supply of stables growing rapidly, but asset managers like Fidelity (6 trillion USD AUM) are planning to launch their own stablecoins.

Be prepared to hear more on this from us soon, and watch for updates on X. 

Sorry for a short one today, it’s been quite a day.

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The important bits.

• Vana announce V integration, AI NFT marketplace on Vana

• Particle Network’s PARTI token airdrop claims are live

• Tanssi explains how they tap into Ethereum’s security by restaking

• Core DAO releases the “State of Bitcoin Yield” whitepaper

• Sophon announces Discord roles for Pudgy Penguins

• Hermes announces Berachain support and vaults

• Peapods Finance launches x33 vault for

• Hyperliquid’s HYPE token suffers volatility due to massive JELLY liquidations

Even more important bits.

• Securitize launched the largest yield-bearing tokenized treasury fund ($1.7B), BUIDL, on Solana

• GameStop $GME to buy Bitcoin as a Treasury Reserve Asset

• Michael Saylor sends message to GameStop's CEO: “Welcome to Bitcoin”

Crypto taxes? Absolute pain.

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HYPEUSDT 1D Bybit

This latest Jelly Jelly Hyperliquid drama has created a gigantic capitulation volume bar on the HYPE Bybit perps chart (above) and the native USDC pair (not pictured).

The previous, similar HLP liquidation drama on 12 March was a good entry and dumped the price from $14 down to $12. We subsequently bounced and then consolidated slightly lower than the initial nuke. I think this likely presents another good entry; just be careful as we may go low again, despite this initial strong bounce.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

• Abyss (Gaming on Sonic)

• Rain (Card payments & stablecoin interoperability)

• Sheep (Gaming on Sonic)

• Bronto (DeFi on MegaETH)

• BeraFlowDAO (OHM on Berachain)

• Neko (Hyperliquid) - Announces 33% total supply airdrop

To save you doom scrolling.

Hyperliquid in trouble here? Let’s hope this resolves soon.

As I finish writing this, Hyperliquid put out a statement on the JellyJelly drama. All seems well for now.

Speaking of Hyperliquid, stay tuned for next week. I’m preparing a guide on how to farm the Season 2 HYPE airdrop. The EVM season is here, and it’s going to be good.

stay safe homies,

Hix0n 🫡