Gm Timekeepers! ⏳🫡
Huge day with a huge drama! 🎪💰
From exchange exploits and regulatory drama to Ethereum’s potential comeback and Wyoming flexing its own stablecoin – things are getting spicy. 🔥
Hyperliquid just got rugged by one of its own traders, Binance played chess with their listing moves, and the U.S. Senate just clapped back at the IRS’s DeFi surveillance plans.
Meanwhile, ETH is eyeing $2.5K, Wyoming is dropping its own "stable" token, and XRP traders are on edge over a potential 50% crash – or moonshot.
Strap in, it’s gonna be a ride. 🚀
TL;DR ⚡
1️⃣ Hyperliquid Gets Exploited – Then Binance Steps In 🫠 A trader exploited Hyperliquid’s liquidation system, pumped a coin on another exchange, and left them with massive losses.
2️⃣ U.S. Senate Overturns IRS DeFi Broker Rule 🚨A major win for DeFi – Senate votes to kill an IRS rule forcing DeFi platforms to report user transactions.
3️⃣ ETH to $2.5K? Maybe… If These 3 Things Happen 🧙♂️ETH reclaimed $2K but still lags behind its $2.5K peak. Can it reach 2.5K?
4️⃣ Wyoming Drops Its Own Stablecoin 💵 The "Wyoming Stable Token" (WYST) launches in July, pegged 1:1 to the dollar.
5️⃣ XRP: 50% Crash or Moon Mission? 🚀A classic head-and-shoulders pattern could send XRP down 55% to $1.07.
🧨 A Whale, A DEX, and A Near-Death Experience
One whale almost brought down an entire exchange this week.
Here’s the wild play-by-play 🔽
🐳 Whale opens a $6M short on $JELLY (a $20M market cap token)
💸 Then yanks their margin – leaving Hyperliquid (a decentralized perp DEX) holding the bag
📈 Whale starts pumping $JELLY on spot. Price explodes.
🔥 HL’s unrealized losses hit $13M.
If the token hit a $150M market cap, HL was dead in the water ☠️.
Then it gets spicier.
👀 Binance and OKX suddenly list $JELLY. Price rips harder.
🚨 Hyperliquid panics, slams the brakes:
Resets price to $0.0095 (Yes… a DEX manually reset a token price 😑 so much for decentralization)
Closes exposure
Delists $JELLY
All passed by validator vote in under 2 minutes.
Degen speedrun mode: activated.
Now CT’s split:
⚖️ Some say HL saved themselves fair and square
🧂 Others are calling it centralized price manipulation in disguise
🧐 Did Binance and OKX orchestrate a hit job?
🤔 Did Hyperliquid just prove that decentralization is a vibe more than a reality?
This wasn’t a liquidation. It was a WAR. ⚔️💀🔥
🫨 U.S. Senate Overturns IRS DeFi Broker Rule!
In a major W for DeFi, the U.S. Senate just voted 70-28 to obliterate the IRS rule forcing DeFi platforms to report user transactions and issue 1099 forms.
This rule, cooked up in the final days of the Biden era, was supposed to “improve tax compliance” (aka spy on DeFi users). But crypto folks weren’t having it – citing privacy invasion & overreach.
Now, the resolution sits on Trump’s desk – if he signs it, DeFi gets a breather. If not… well, let’s just say the crypto world won’t take it lightly. 😏
Grab your popcorn 🍿 and stay tuned – this move could set a precedent for future crypto regulations! 🚀
🚀 ETH to $2.5K? Only If These 3 Magic Spells Work! 🧙♂️💰
Ethereum’s back, baby!
ETH just reclaimed $2K, but it’s still limping 18% below its former $2.5K glory 🤕
Can it make a comeback? Or are we stuck in crab mode? 🦀
The Ethereum Pectra upgrade is coming (finally 🙄), aiming to fix high fees, boost transaction speed, and make wallets smarter.
Meanwhile, Ethereum’s Total Value Locked (TVL) is flexing hard at $52.5B, leaving Solana in the dust. 🤡💨
And let’s not forget – the ETH supply on exchanges is at a near 5-year low – meaning diamond hands are stacking. 💎🙌
Even Arthur Hayes is throwing out wild targets – $5K ETH?! 😳 Options traders are laughing, but who knows?
The Real-World Asset (RWA) market is thriving, and BlackRock’s BUILD fund is now a $1.5B beast. 💥
Can ETH ride this momentum to $2.5K and beyond? Or will the crypto gods throw us another rug? 🤷♂️
🤠 Wyoming Drops Its Own ‘Stable Token’ – Because Why Not?
Move over, USDC and USDT! Wyoming is making waves in the stablecoin game with "Wyoming Stable Token" (WYST) – set to launch in July. 💰
Yeah - now everyone is onto launching it’s own stablecoin but as long as we reach towards more decentralization all new projects are welcome.
Governor Mark Gordon is flexing Wyoming’s "right ecosystem" for crypto, where the government is "fully accessible" and can "turn on a dime" (sounds decentralized already? 😏).
The token will be pegged 1:1 to the dollar and backed by cash + U.S. Treasury bills – because somebody has to be responsible. 🙃
Wyoming has already been crypto’s cool uncle, giving DAOs legal status and letting insurance firms stack BTC.
Now? They're dropping their own state-backed stablecoin while other states just sit there watching. Regulators in DC, you good? 👀
Will WYST moon? 🌕 Or will this be another government-issued meme coin? 🤡
One thing's for sure – Wyoming’s crypto experiment is just getting started. Buckle up! 🚀🔥
🎢 XRP Holders, Buckle Up: 50% Crash or Moon Mission?
XRP is hanging by a thread – legendary trader Peter Brandt is waving the red flag 🚩, calling a potential 55% nosedive to $1.07 if a textbook head-and-shoulders (H&S) pattern plays out. Yikes! 😬
Right now, XRP is just vibing at the edge of a cliff 😵💫 – down 4.7% this week while Bitcoin flexes at $88,800.
Trading volume? Down 35%. Even after the SEC lawsuit drama boost, it’s struggling to hold momentum.
But wait! Bullish trader Javon Marks is calling for liftoff instead, pointing at XRP’s past 570% surge post-breakout. Plus, spot market demand is still there, meaning buyers haven’t totally ghosted yet. 👻
The next two weeks are crucial – above $3 = game on 🚀, below $1.90 = potential wreckage.
Dom, an order flow analyst, is staying cautiously bored 😴 until a clearer breakout happens. So, are we moonbound or doomed? Place your bets, XRP holders. 🃏
And time…
That’s a wrap on today’s 13th Hour! 🕛
From DeFi victories to exchange dramas, the crypto space never sleeps. Hyperliquid’s disaster is a stark reminder of the wild west we live in, while Wyoming is out here trying to build a structured future.
Stay sharp, keep stacking, and remember: Be a chill guy 😏💰
See you tomorrow, Timekeeper⏳📡
– Your daily chronographer 🔁
