An address opened a 25x leveraged ETH long position on Hyperliquid, worth $70.76 million

The post Wormhole launches reserve tying protocol revenue to token appeared on BitcoinEthereumNews.com. Wormhole is changing how its W token works by creating a new reserve designed to hold value for the long term. Announced on Wednesday, the Wormhole Reserve will collect onchain and offchain revenues and other value generated across the protocol and its applications (including Portal) and accumulate them into W, locking the tokens within the reserve. The reserve is part of a broader update called W 2.0. Other changes include a 4% targeted base yield for tokenholders who stake and take part in governance. While staking rewards will vary, Wormhole said active users of ecosystem apps can earn boosted yields through features like Portal Earn. The team stressed that no new tokens are being minted; rewards come from existing supply and protocol revenues, keeping the cap fixed at 10 billion. Wormhole is also overhauling its token release schedule. Instead of releasing large amounts of W at once under the old “cliff” model, the network will shift to steady, bi-weekly unlocks starting October 3, 2025. The aim is to avoid sharp periods of selling pressure and create a more predictable environment for investors. Lockups for some groups, including validators and investors, will extend an additional six months, until October 2028. Core contributor tokens remain under longer contractual time locks. Wormhole launched in 2020 as a cross-chain bridge and now connects more than 40 blockchains. The W token powers governance and staking, with a capped supply of 10 billion. By redirecting fees and revenues into the new reserve, Wormhole is betting that its token can maintain value as demand for moving assets and data between chains grows. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/wormhole-launches-reserve

PANews reported on October 12th that, according to market sources, on-chain analyst Eye revealed on the X platform that a HyperLiquid whale, who holds over 100,000 BTC and sold over $4.23 billion worth of BTC for ETH, may be linked to Garrett Jin, a former exchange executive. Between August and September, he used a series of BTC wallets through Hyperliquid/Hyperunit to sell over 35,000 BTC in exchange for ETH. The address used to deploy his ETH-staking contract received funding from a wallet whose initial funding came from "ereignis.eth." A second ENS domain associated with the address, "garrettjin.eth," points to X user Garrett Jin. Currently, Garrett Jin holds 46,295 BTC (currently worth $5.19 billion) in these addresses. Regarding this analysis, CZ retweeted: "I'm not sure if it's true or accurate yet, I hope someone can verify it."

The post IP Hits $11.75, HYPE Climbs to $55, BlockDAG Surpasses Both with $407M Presale Surge! appeared on BitcoinEthereumNews.com. Crypto News 17 September 2025 | 18:00 Discover why BlockDAG’s upcoming Awakening Testnet launch makes it the best crypto to buy today as Story (IP) price jumps to $11.75 and Hyperliquid hits new highs. Recent crypto market numbers show strength but also some limits. The Story (IP) price jump has been sharp, fueled by big buybacks and speculation, yet critics point out that revenue still lags far behind its valuation. The Hyperliquid (HYPE) price looks solid around the mid-$50s after a new all-time high, but questions remain about sustainability once the hype around USDH proposals cools down. So the obvious question is: why chase coins that are either stretched thin or at risk of retracing when you could back a network that’s already proving itself on the ground? That’s where BlockDAG comes in. While other chains are stuck dealing with validator congestion or outages, BlockDAG’s upcoming Awakening Testnet will be stress-testing its EVM-compatible smart chain with real miners before listing. For anyone looking for the best crypto coin to buy, the choice between waiting on fixes or joining live progress feels like an easy one. BlockDAG: Smart Chain Running Before Launch Ethereum continues to wrestle with gas congestion, and Solana is still known for network freezes, yet BlockDAG is already showing a different picture. Its upcoming Awakening Testnet, set to launch on September 25, isn’t just a demo; it’s a live rollout where the chain’s base protocols are being stress-tested with miners connected globally. EVM compatibility is active, account abstraction is built in, and tools like updated vesting contracts and Stratum integration are already functional. Instead of waiting for fixes like other networks, BlockDAG is proving its infrastructure in real time. What makes this even more important is that the technology is operational before the coin even hits exchanges. That…