[Whale Account Suffered $3 Million Unrealized Loss on Long Positions Last Night, Made Over $170 Million in Profits from Precise Shorting in October] The 'BTC OG' whale account (0xb31) experienced an unrealized loss of $3 million on long positions last night, with losses peaking at over $4.3 million during the day. No new opening or closing positions have been observed yet. The total nominal value of the current holdings is approximately $125 million. The current positions are as follows: - BTC 5x leverage long position: Unrealized loss of $1.78 million (approximately 12.4%), average entry price $104,500, position size approximately $71.4 million - ETH 5x leverage long position: Unrealized loss of $1.3 million (approximately 12.1%), average entry price $3,427, position size approximately $53.5 million Previously, this whale held over 100,000 BTC, which was gradually sold off this year and converted into ETH. On October 11, before the flash crash, the whale opened large short positions, earning over $170 million in profits. Recently, the whale deposited $40 million to open 3x leverage ETH and BTC long positions, which were increased to 5x leverage yesterday.

[Galaxy CEO: Crypto Market Has Not Peaked Yet, New Fed Chair May Drive Rally] Galaxy Digital founder and CEO Mike Novogratz stated that the crypto market has been sluggish recently, with many long-term holders rebalancing their assets and diversifying funds from concentrated positions. While this is beneficial for the health of the mid-to-long-term market, it has suppressed prices in the short term. He believes the current cycle has not yet reached its peak and anticipates the arrival of a new Federal Reserve Chair by the end of this year, who may be more dovish than the market expects, potentially driving the next wave of upward momentum.

[Report: 72 out of the top 100 cryptocurrencies by market cap have dropped over 50%] A Galaxy Research report shows that in the current cryptocurrency market, 72 out of the top 100 cryptocurrencies by market cap have fallen more than 50% from their all-time highs.

[Study Finds Polymarket Trading Volume Inflated Due to Wash Trading] On November 7, researchers from Columbia University released a new study indicating that the trading activity on the prediction market platform Polymarket has been significantly inflated due to users frequently engaging in wash trading by buying and selling the same contracts. The study shows that this artificial trading phenomenon varies over time but has accounted for an average of approximately 25% of Polymarket's total trading volume over the past three years.

[Polygon Co-Founder: Stablecoins Will Strengthen the Dollar in the Short to Medium Term] Polygon co-founder Sandeep Nailwal posted on the X platform, stating that stablecoins will make the dollar stronger in the short to medium term, contrary to the prediction of Bridgewater Associates founder Ray Dalio. He pointed out that stablecoins not only continuously create demand for U.S. Treasury bonds but are also reshaping the relationship between the dollar and the global economy, shifting from B2B to B2C. Nailwal believes that Dollarization 2.0 is happening globally, with economic systems in regions like Latin America and Africa being restructured around the digital dollar. National monetary sovereignty in various countries is under pressure, and there is a need to promote 'open' local stablecoins to maintain competitiveness.