[News Brief] Apr 22, morning | Binance Seeks Re-entry into the Philippine Market Through Partnership with Local Fintech Firm

Bitwise Purchases Additional 162,367 HYPE Tokens Over Two Hours

According to PANews, Bitwise recently acquired an additional 162,367 HYPE tokens over a two-hour period.

The purchase was valued at approximately $10.11 million. The move has drawn market attention as an example of institutional buying activity in a specific altcoin.

Binance Seeks Re-entry into the Philippine Market Through Partnership with Local Fintech Firm

According to Wu Blockchain, Binance is pursuing a re-entry into the Philippine market through a partnership with local fintech firm BlockScholes Technologies.

The two companies plan to expand their business through a locally compliant regulatory pathway, explaining that the partnership follows more than two years of regulatory discussions.

This move aligns with a broader trend of crypto service providers seeking to offer services in the Philippines in accordance with the local regulatory framework.

Someone Transfers 107 BTC, Worth About $8.3 Million, to Burn Addresses

According to Bitcoin Magazine, someone transferred 107 BTC, worth about $8.3 million, to known burn addresses in five separate transactions.

Burn addresses are addresses for which access to the private key is effectively impossible, meaning transferred coins are generally considered removed from circulating supply.

Bitcoin Can Now Be Purchased in ChatGPT via MoonPay

@pete_rizzo_ reported that users can now purchase Bitcoin in ChatGPT through MoonPay.

He noted that ChatGPT is the world’s most widely used AI app, meaning a large user base now has access to a pathway for buying Bitcoin.

Signs of Large-Scale CWU Selling... Bubblemaps Says Certain Addresses Still Hold 85% of Total Supply

According to on-chain analytics platform Bubblemaps, certain addresses sold approximately $600,000 worth of CWU tokens.

Bubblemaps added that even after the selling, those addresses still hold about 85% of CWU’s total supply.

CWU previously drew attention after receiving support from a former president of Ghana, and the latest large-scale selling activity has fueled market speculation about a potential rug pull.

Hyperscan: Largest HYPE Short Seller Loracle Holds 1.81 Million HYPE Short Position

According to Odaily, Hyperscan data shows that Loracle, known as the largest short seller of HYPE, currently holds a short position of 1.81 million HYPE.

The position is valued at about $116 million, with an average entry price of $45.37 and a liquidation price of $89.11. The current unrealized loss is estimated at $34.6 million.

MU Open Interest on Hyperliquid Reaches $164 Million, Surpassing WTI

According to Odaily, open interest (OI) in Micron Technology (MU) on Hyperliquid reached $164 million, exceeding WTI crude oil at $161 million.

As a result, Micron ranked fourth by OI in the Hyperliquid HIP-3 market. The top three assets are the S&P 500, XYZ100, and Brent crude.

One Address Earns About $6.2 Million on 3x Long MU Position on Hyperliquid

PANews, citing AiYi data, reported that one address (0x577…95fd2) opened a 3x long position on 22,188.647 MU tokens at an average price of $575.25 on Hyperliquid between May 6 and May 8.

The notional position size was about $18.88 million. Based on the current MU price of $852.71, the address’s actual profit stands at about $6.2 million, the highest among MU long position holders on Hyperliquid.

Brent Crude Rises Above $100 Intraday

According to Odaily, Brent crude oil climbed above $100 per barrel at its intraday high, based on Gate data.

A sharp rise in international oil prices could increase inflationary pressure and affect interest rate expectations and risk appetite for risk assets.

Onchain Lens: Address 0x3ed Opens Approximately $9 Million 10x Leveraged Long Position in HYPE

According to Onchain Lens, address ‘0x3ed’ opened a 10x leveraged long position in HYPE worth about $9 million.

The address holds a position in 142,754 HYPE tokens and is also reportedly facing an unrealized loss of more than $425,000 on a 10x leveraged long position in ZEC.