Edgen Crypto·Nov 17 2025, 00:45
[1] Cardano Holder Loses $6.05 Million Due to Liquidity Issues (https://www.techflowpost.com/newsletter/detai ...)[2] Cardano wallet activates after 5 years, loses $6 million in disastrous ADA-to-USDA swap (https://vertexaisearch.cloud.google.com/groun ...)[3] Cardano wallet activates after 5 years, loses $6 million in disastrous ADA-to-USDA swap - TradingView News (https://vertexaisearch.cloud.google.com/groun ...)
Related News
Nov 17 2025, 02:13
Aster Intensifies Growth Strategy with $10 Million Trading Competition and Airdrop Amid Layer-1 Development
## Executive Summary Aster has initiated a comprehensive strategy to enhance its platform depth and liquidity, marked by the launch of a $10 million trading competition, a Stage 4 Airdrop distributing 120 million ASTER tokens, and the advancement of its Rocket Launch program. These incentives are deployed as the platform progresses towards a hybrid model of on-chain order book infrastructure and incentive-driven growth, aiming for a steeper growth curve. ## The Event in Detail The **"Double Harvest"** trading competition, Aster's largest to date, commenced on November 17 at 00:00 UTC and will conclude on December 21 at 23:59 UTC. This competition features five weekly stages, each with a prize pool of up to $2 million, contingent on trading volume. A minimum perpetual trading volume of $100,000 is required for prize qualification, with top-three finishers needing at least $5 million in volume. Traders in eligible positions will receive double rewards. Prize pools scale with total perpetual trading volume: $1 million for less than $10 billion, $1.5 million for $10 billion or more, and $2 million for $15 billion or more. Concurrently, the **Aster Airdrop Stage 4, dubbed "Harvest,"** began on November 10 and runs until December 21, 2025. This stage allocates 1.5% of the total $ASTER supply, amounting to approximately 120 million ASTER tokens, distributed across six weekly epochs. The program emphasizes sustainable farming through enhanced point calculations and includes a reduced allocation for deflation compared to Stage 3 (1.5% from 2.5%), signaling a focus on token scarcity. Bonuses are offered for using ASTER as collateral to encourage token retention. Furthermore, Aster has unveiled **Rocket Launch**, a program designed to connect early-stage crypto projects with traders through liquidity incentives and token rewards. This feature integrates token launches, trading competitions, and continuous buybacks to strengthen Aster's on-chain ecosystem. ## Market Implications Aster's multi-pronged incentive strategy is a direct effort to catalyze trading activity and attract a broader user base. By orchestrating a large-scale trading competition and a substantial airdrop, the platform aims to significantly boost its perpetual trading volume and total value locked (TVL). This approach aligns with a broader industry trend of using token-based incentives to bootstrap network effects and liquidity in decentralized finance (DeFi) ecosystems. The requirement for using ASTER as collateral in the airdrop program and its role in governance, staking, and fee payment are designed to enhance the token's utility and foster long-term engagement. These initiatives are strategically timed with Aster's development of **Aster Chain**, its proprietary Layer-1 blockchain. This chain, currently in internal testing, is designed for high performance and privacy, leveraging zero-knowledge proofs (ZKPs) for verifiable on-chain activity. The reported surge in Aster's TVL from $366 million to over $1.78 billion in a single week, a 390% increase, following discussions of its Layer-1 plans, suggests a positive market reception to its infrastructural ambitions. The combination of aggressive growth incentives and foundational technology development positions Aster to compete more effectively within the Web3 landscape. ## Broader Context The deployment of significant capital towards user incentives and the concurrent development of proprietary blockchain infrastructure underscores a competitive environment in the decentralized exchange (DEX) and broader Web3 sectors. Platforms are increasingly adopting hybrid models that blend robust technical infrastructure with aggressive market penetration strategies. Aster's focus on a high-performance, privacy-focused Layer-1 with an on-chain order book aims to address scalability and user privacy concerns prevalent in existing blockchain solutions. The ASTER token's multifaceted utility—encompassing governance, staking, and fee payments—is central to this ecosystem, designed to ensure community involvement and network stability. This strategy reflects a push towards self-sustaining ecosystems where native tokens play a crucial role in economic and governance models.
Nov 17 2025, 01:20
Hyperliquid ZEC’s Largest Short Position Faces Over $22 Million in Unrealized Losses Amidst Price Surge
## Executive Summary The largest short position on Hyperliquid ZEC perpetual contracts has recorded over $22 million in unrealized losses, with a liquidation price set at $1112.45, indicating significant market pressure on **Zcash** (**ZEC**). ## The Event in Detail As of recent monitoring, a prominent short position on **ZEC** perpetual contracts on the **Hyperliquid** platform is facing an unrealized loss exceeding $22.04 million. This position holds a liquidation price point of $1112.45. On November 15th, 2025, **HyperInsight** monitoring indicated that a large **ZEC** short position, initiated at an entry price of $360.077 per coin with 5x leverage, had already reduced its size by $1.01 million and recorded an unrealized loss of $18.45 million, with its liquidation price at $973.4. Separately, as of November 16th, 2025, another significant short position, identified by address **0x7b7...2734e**, opened a 10x leveraged short for 31,015.92 **ZEC** tokens (approximately $21.43 million in value), showing a floating loss of $1.177 million, positioning it as the second-largest short on **Hyperliquid**. In contrast, the market also shows robust long interest. A top **ZEC** long position on **Hyperliquid** recently increased its holdings by 20,000 **ZEC** tokens, reaching a total of 60,000 **ZEC**. This position, valued at approximately $39.468 million, is currently showing a profit exceeding $6.2 million. Additionally, on November 8th, 2025, a newly established wallet deposited $6.27 million in **USDC** to **Hyperliquid** to open a long position on **ZEC** at $504. ## Financial Mechanics The substantial unrealized losses for short positions are directly linked to the recent price appreciation of **ZEC**. The **Zcash** price currently stands at $684.78. This represents a 30% increase from the previous week’s price of $527.16 and a 20% surge from the prior day’s price of $572.99. In high-leverage crypto trading, a liquidation price is the point at which a trader’s position is automatically closed by the exchange due to insufficient margin to cover losses. For positions with high leverage, such as the 5x and 10x leverage observed, even small price movements can significantly impact margin requirements, making liquidation a critical risk. The open interest for **ZEC** perpetual contracts on **Hyperliquid** was approximately $115 million as of October 30th, indicating substantial market activity. ## Market Implications The accumulation of significant unrealized losses in **ZEC** short positions, coupled with strong long interest, sets the stage for potential market volatility, including a **short squeeze**. If the price of **ZEC** continues its upward trend, these short positions could be forcibly closed, further fueling price increases. The listing of **ZEC** perpetual contracts on **Hyperliquid** has enhanced market liquidity for the asset, attracting both long and short traders. **Zcash** currently has a market capitalization of $11.06 billion, with a circulating supply of 16,312,576 **ZEC**, approximately 78% of its maximum supply. The fully diluted valuation for **Zcash** amounts to $14.24 billion. Market activity shows a 57% change in buyers and a 106% change in sellers, with a total of 15,234 trades, reflecting dynamic trading conditions. This scenario highlights the ongoing tension between bearish and bullish sentiment in the **Zcash** market. ## Broader Context The current situation illustrates the magnified risks inherent in leveraged derivatives trading within volatile cryptocurrency markets. Large unrealized losses in short positions can quickly lead to cascading liquidations, creating feedback loops that accelerate price movements. Traders are advised to meticulously calculate liquidation prices and manage leverage to mitigate risks. The increased open interest and liquidity on platforms like **Hyperliquid**, which has a total open interest of $7.71 billion, demonstrate the growing sophistication and activity in the decentralized finance (DeFi) derivatives landscape, where significant capital is deployed in high-stakes positions.
Nov 17 2025, 00:43
Major Cryptocurrency Token Unlocks Exceed $73 Million This Week, Driving Market Volatility Concerns
## Executive Summary Multiple cryptocurrencies, including **LayerZero (ZRO)**, **ZKsync (ZK)**, **KAITO**, **ApeCoin (APE)**, and **YZY**, are poised for unlocks totaling over $73 million this week, prompting market participants to assess potential price fluctuations and increased selling pressure. ## The Event in Detail Significant token releases are scheduled across several prominent crypto assets. **LayerZero (ZRO)** is set to unlock approximately 25.71 million tokens on November 20, representing 7.29% of its circulating supply, with a market value of $38.3 million. On November 17, **ZKsync (ZK)** will release 173 million tokens, accounting for 3.37% of its current supply, valued at $9 million. **KAITO** is scheduled to unlock 8.35 million tokens (2.97% of circulating supply), worth $6.4 million, on November 20. Additionally, **ApeCoin (APE)** will see an unlock of 15.60 million tokens (1.66%) on November 17, valued at $5.5 million. **YZY** will unlock 37.50 million tokens (12.50% of current supply) on November 19, carrying a valuation of $14.1 million. The combined value of these scheduled unlocks surpasses $73 million, injecting a substantial volume of new tokens into the market. ## Market Implications These impending token unlocks are anticipated to exert downward pressure on the market prices of the affected assets. Historical analysis indicates that approximately 90% of all token unlock events result in negative price pressure, irrespective of the scale or type of unlock. Larger unlock events have been observed to correlate with an average price drop of 2.4 times and heightened market volatility. The market impact of an unlock often begins approximately 30 days prior to the event itself, suggesting that current market movements may already reflect these upcoming supply increases. This influx of new tokens could dilute market value if demand does not sufficiently absorb the increased supply, potentially leading to price depreciation as new holders may elect to sell for profit. ## Broader Context The broader cryptocurrency market typically reacts to token unlocks with increased caution. The nature of the unlock can also influence its impact; for instance, unlocks designated for team allocations have historically triggered more severe price crashes, averaging a 25% decline, alongside what is often characterized as irrational sell-offs. Conversely, unlocks allocated for ecosystem development can, in some instances, have a marginally positive impact, averaging a 1.18% increase. In response to potential price corrections, investors often employ strategies such as avoiding panic decisions and maintaining a diversified portfolio to insulate against dramatic price swings. For long-term investors, periods of price decline resulting from increased supply may be viewed as opportunities for accumulation, provided the fundamental value proposition of the underlying asset remains robust.