đ˛ Hyperliquid Faces Record Outflows Amid North Korea Hack Allegations đ˛
Hyperliquid experienced significant net outflows, totaling approximately $250 million, following allegations regarding North Korean hackers being active on its platform.
Hyperliquid experienced significant net outflows, totaling approximately $250 million, following allegations regarding North Korean hackers being active on its platform.
On Monday, Taylor Monahan, a security researcher from MetaMask, shared on social media platform X that she identified several blockchain addresses operating on Hyperliquid linked to North Korea's cyber activities.
Data from Dune Analytics indicated that the platform saw USDC net outflows of $249.1 million on Monday,with an additional $22.2 million recorded on Tuesday.
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Monahan's post included details of blockchain addresses that had been active since Oct. 2, raising concerns about potential threats to the platform's security.
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Monahan reiterated her offer to assist Hyperliquid in bolstering its defenses against these sophisticated threat actors, emphasizing the risks posed by North Korean groups known for their advanced hacking capabilities.
âI am quite concerned that you guys are at increased risk due to the fact we know that these specific threat actors are now intimately familiar with your platform,â she stated in a screenshot of a message she says she had written to the Hyperliquid team two weeks prior.
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In response to the claims, Hyperliquid assured users that all funds were accounted for and stated that no exploit or vulnerability had been detected. The platform emphasized, âThere has been no DPRK exploitâor any exploit for that matterâof Hyperliquid.â
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The platform's native token, Hype, also experienced volatility, dropping from a peak of $34.5 over the weekend to around $26 on Monday before recovering slightly to $29.63 by the time of reporting.
North Korea's state-sponsored hacking groups have been implicated in some of the largest cryptocurrency thefts, including the $600 million hack of the Ronin Ethereum sidechain in 2022. Hyperliquid's situation highlights ongoing concerns about security in the decentralized finance sector.
đ Coinbase just launched an AI agent for Crypto Trading
Custom AI assistants that print money in your sleep? đ
The future of Crypto x AI is about to go crazy.
đ Hereâs what you need to know:
đ 'Based Agent' enables creation of custom AI agents
đ Users set up personalized agents in < 3 minutes
đ Equipped w/ crypto wallet and on-chain functions
đ Capable of completing trades, swaps, and staking
đ Integrates with Coinbaseâs SDK, OpenAI, & Replit
đ What this means for the future of Crypto:
1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto đtxns done by AI agents by 2025
đ¨ I personally wouldn't bet against Brian Armstrong and Jesse Pollak.
đ Coinbase just launched an AI agent for Crypto Trading
đ Coinbase just launched an AI agent for Crypto Trading
If restarting the XRP ledger from scratch, Ripple CTO David Schwartz discusses using "Rust" is definitely talked about.
Proposals from an outside company are currently being considered for a possible modular revamp of pieces.
(Rust is a general-purpose, multi-paradigm programming language)
This video offers an insightful conversation with David Schwartz, a founding core developer of the XRP Ledger. It explores the Ledgerâs origins, unique technical design, and the philosophy guiding its development from 2012 onward.
⨠Video Highlights:
đš Early creation of the XRP Ledger as a Bitcoin alternative using leaderless distributed consensus instead of proof of work
đš Use of Bitcoinâs cryptography foundations and C++ for XRP Ledgerâs core implementation
đš Introduction of a multi-asset system enabling the first decentralized exchange and support for stablecoins
đš Consensus mechanism based on validator proposals needing 80% agreement, recognizing ...
đ° Rippleâs OCC Banking License application is now available! Vol. 1 is the public release. The application provides some clues about Rippleâs intentions and structure to consider.
1/6 đ§ľ
The next altcoin season is poised to ignite the crypto market, promising to turn savvy investors' portfolios into goldmines. As Bitcoin's dominance wanes, a new era of blockchain innovation is dawningâare you ready to ride the wave?
Market behavior often exhibits distinct patterns and cycles. One such phenomenon that has captured the attention of traders and investors alike is the "Alt Season"âa period when alternative cryptocurrencies, or "altcoins," outperform Bitcoin and experience significant price surges.
The concept of market cycles and seasonality is not unique to crypto; it's a well-established principle in traditional financial markets. However, in volatile crypto space, these cycles can be more pronounced and occur with greater frequency. Â
In this article, weâll try to cover these and other topics:Â
The nature and characteristics of Alt Seasons
The importance of recognizing market cycles in cryptocurrency trading
Alt Season indicators and how to interpret them
Predictions and speculatins about the next potential Alt Season
What Is Crypto Alt Season?
Crypto Alt Season, short for "Alternative Cryptocurrency Season," refers to a period in the cryptocurrency market when alternative cryptocurrencies (altcoins) significantly outperform Bitcoin in terms of price appreciation. During an Alt Season:
Many altcoins experience rapid price increases.
The market share of altcoins grows relative to Bitcoin.
Trading volume for altcoins typically increases.
Investor attention shifts from Bitcoin to various altcoin projects.
An Alt Seasoncan last anywhere from a few weeks to several months. It's often characterized by increased risk appetite among investors, who are willing to allocate more capital to smaller, potentially higher-risk crypto projects in search of higher returns.
Is Crypto Season the Same As Crypto Alt Season?
While related, Crypto Season and Crypto Alt Season are not exactly the same:
Crypto Season:
Refers to a broader bullish period in the entire cryptocurrency market.
Typically includes price appreciation for both Bitcoin and altcoins.
Can be longer in duration, sometimes lasting for many months or even a year or more.
Often starts with a Bitcoin rally, followed by increased interest in the broader crypto market.
Crypto Alt Season:
Specifically focuses on the outperformance of altcoins compared to Bitcoin.
Can occur within a broader Crypto Season but is more narrowly defined.
Generally shorter in duration than a full Crypto Season.
May happen towards the latter part of a broader Crypto Season, as investors seek higher returns in smaller cap coins.
Key Differences:
Scope: Crypto Season encompasses the entire market, while Alt Season focuses on altcoins.
Duration: Crypto Seasons are generally longer than Alt Seasons.
Market Dynamics: In a Crypto Season, Bitcoin often leads the rally, while in an Alt Season, altcoins outperform Bitcoin.
It's important to note that these terms are not officially defined and can be subject to different interpretations within the cryptocurrency community. However, understanding the distinction can help investors and traders better analyze market trends and potential opportunities in different segments of the crypto market.
What Is Alt Season Indicator?
The Alt Season Indicator is a tool used by cryptocurrency traders and investors to gauge whether the market is entering or currently in an "Alt Season" â a period when altcoins are outperforming Bitcoin. While there isn't a single, universally accepted Alt Season Indicator, several metrics and tools are commonly used to assess the likelihood of an Alt Season. Here are some key aspects of Alt Season Indicators:
Bitcoin Dominance
One of the most widely used indicators is Bitcoin Dominance, which measures Bitcoin's market capitalization as a percentage of the total cryptocurrency market cap.
Calculation: (Bitcoin Market Cap / Total Crypto Market Cap) * 100
Interpretation: A declining Bitcoin Dominance often signals a potential Alt Season, as it indicates that capital is flowing from Bitcoin into altcoins.
Threshold: Some traders consider Bitcoin Dominance below 50% as a potential indicator of an Alt Season.
Altcoin Market Cap Ratio
This indicator compares the total market capitalization of altcoins to Bitcoin's market cap.
Calculation: Total Altcoin Market Cap / Bitcoin Market Cap
Interpretation: An increasing ratio suggests growing strength in the altcoin market relative to Bitcoin.
Top 10 Altcoins Performance
This indicator tracks the performance of the top 10 altcoins by market cap (excluding Bitcoin) compared to Bitcoin over a specific period.
Calculation: Average percentage gain of top 10 altcoins vs. Bitcoin's percentage gain
Interpretation: When a majority of top altcoins consistently outperform Bitcoin, it may indicate an Alt Season.
Alt Season Index
Some crypto data platforms offer a proprietary Alt Season Index, which combines various metrics to provide a single score indicating the likelihood of an Alt Season.
Scale: Often presented as a percentage or a 0-100 score
Interpretation: Higher scores (e.g., above 75%) suggest a higher probability of an ongoing Alt Season
Trading Volume Ratios
This indicator compares the trading volumes of altcoins to Bitcoin's trading volume.
Calculation: Total Altcoin Trading Volume / Bitcoin Trading Volume
Interpretation: An increase in this ratio may indicate growing interest in altcoins, potentially signaling an Alt Season.
Important Considerations:
No single indicator is foolproof. Traders often use a combination of indicators for a more comprehensive analysis.
Market conditions can change rapidly, and past patterns don't guarantee future results.
Different traders may use different thresholds or interpretations of these indicators.
The crypto market's evolving nature means that indicators may need to be adjusted over time to remain relevant.
Understanding and effectively using Alt Season Indicators can help traders and investors make more informed decisions about allocating their resources between Bitcoin and altcoins. However, it's crucial to combine these indicators with broader market analysis and risk management strategies.
Alt Seasons: Historical Perspective, Current Situation, and Future Predictions
Previous Altcoin Seasons
In crypto, two periods stand out as particularly significant for altcoins. These "alt seasons" saw unprecedented growth and interest in cryptocurrencies beyond Bitcoin, reshaping the landscape of digital assets.
The 2017-2018 Alt Season
Duration:Â December 2017 to January 2018
Context:
Bitcoin (BTC) experienced its most remarkable bull run to date, reaching nearly $20,000 in December 2017.
This surge in Bitcoin's price and public interest created a ripple effect throughout the crypto market.
Key Developments:
Proliferation of New Coins: The success of Bitcoin catalyzed the launch of numerous new cryptocurrencies.
Investor Frenzy: Buoyed by Bitcoin's success, investors eagerly sought the "next Bitcoin," pouring capital into various altcoins.
ICO Boom: This period saw a surge in Initial Coin Offerings (ICOs), with many projects raising millions in a matter of hours or days.
Market Expansion: The total cryptocurrency market cap reached unprecedented levels, briefly surpassing $800 billion in January 2018.
Notable Altcoins:Â Ethereum (ETH), Ripple (XRP), and Litecoin (LTC) saw significant price increases during this period.
The 2020-2021 Alt Season
Duration: December 2020 to April 2021
Context:
Bitcoin broke its previous all-time high, surpassing $60,000 in March 2021.
The COVID-19 pandemic had accelerated digital adoption and increased interest in alternative investments.
Key Developments:
DeFi Explosion: Decentralized Finance (DeFi) projects gained massive traction, with many tokens seeing exponential growth.
NFT Boom: Non-Fungible Tokens (NFTs) entered the mainstream, driving interest in blockchain-based digital assets.
Institutional Adoption: Major companies and institutional investors began adding cryptocurrencies to their balance sheets.
Technological Advancements: Many altcoins introduced innovative features, scaling solutions, and use cases.
Notable Altcoins:Â Ethereum (ETH) reached new highs, while projects like Binance Coin (BNB), Cardano (ADA), and Polkadot (DOT) saw remarkable growth.
Comparative Analysis: Both alt seasons shared some common characteristics:
They were preceded by significant Bitcoin price rallies.
New projects and tokens gained rapid popularity and valuation.
The overall cryptocurrency market capitalization reached new heights.
However, the 2020-2021 alt season was marked by greater institutional involvement and a broader range of technological innovations, particularly in DeFi and NFTs.
Is It Alt Season?
Based on the indicators discussed above, it's not currently an altcoin season. The Altcoin Season Index at 41 and Bitcoin's market dominance at 61.3% both suggest that Bitcoin is still the dominant force in the crypto market at this time.
When Is Alt Season?
Based on the information we could gather from various experts, we can analyze the predictions for the next altcoin season as follows:
Based on the latest analysis from experts and on-chain data, hereâs what we know about the next altcoin season:
Â
Current Status (August 2025):
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The altcoin season indexâa metric that signals how many altcoins outperform Bitcoinâcurrently sits around 37. For a âfull-blownâ alt season, it typically needs to rise above 75.
Bitcoin dominance is approximately 61-62%. Historically, dropping below 60% often coincides with a rapid rotation into altcoins and the start of alt season.
Â
Key Indicators to Watch:
Â
Altcoin Season Index (ASI): Above 75 signals a true altcoin season.
Bitcoin Dominance: A move below 60% usually marks the transition; sub-50% dominance is associated with peak alt season inflows.
Market Activity: Increasing volumes in major altcoins and Layer 1s, meme coin rallies, and spikes in DeFi activity are early warning signs.
Ethereum Outperformance: When ETH surges relative to BTC, this historically precedes broader altcoin rallies.
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Expert Predictions for 2025:
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Analysts point to a pivotal window for alt season starting as early as August 2025 and extending through the fall, with many expecting true acceleration of altcoin gains if Bitcoinâs price consolidates and capital rotates further into alts.
There is strong consensus that macroeconomic catalysts, such as potential U.S. interest rate cuts and ongoing Bitcoin ETF momentum, could fuel a major altcoin rally in late 2025 if positive conditions persist.
Summary Table: Key Factors & Targets
Signal
Alt Season Trigger
Status (Aug 2025)
Altcoin Season Index (ASI)
>75
 ~37
Bitcoin dominance
<60%
 ~61â62% (near trigger)
Altcoin trading volume
Sustained surge across many alts
 Rising, but not explosive
Ethereum outperformance
ETH/ BTC breakout, >$3,700
 Near, ETH ~$3,500
Market narratives
AI, DeFi, meme coins, new L1 inflows
 Strengthening
Â
Bottom Line: Most analysts agree the groundwork for altcoin season in 2025 is building. We are currently in a transition phase: if Bitcoin dominance continues to fall and the Altcoin Season Index rises above 75, a full-fledged alt season could ignite during the second half of 2025. Monitor these key indicators to stay ahead as market momentum shifts from Bitcoin into a broader range of altltcoins.
Key Factors to Consider
Technology: Look for coins with innovative solutions to existing blockchain challenges.
Adoption: Consider projects with growing partnerships and real-world use cases.
Market Position: Established coins with room for growth may offer a balance of stability and potential returns.
Tokenomics: Understanding supply dynamics can help predict potential price movements.
It's crucial to conduct thorough research before investing. The cryptocurrency market is highly volatile, and past performance doesn't guarantee future results. Always invest responsibly and within your risk tolerance.
How to Win in Next Alt Season?
Capitalizing on the next altcoin season requires a strategic approach. Here's how to maximize potential gains:
Research and Diversification:Â Thoroughly research potential investments, analyzing both fundamentals and technical aspects to identify promising altcoins. Diversify your holdings across different projects to mitigate risk and maximize potential returns. Don't put all your eggs in one basket.
Strategic Timing:Â Utilize technical analysis tools like support/resistance levels and RSI to pinpoint optimal entry and exit points. Monitor market sentiment and price trends to make informed decisions. A clear entry and exit strategy is crucial for managing risk and maximizing profits during volatile periods.
Newer Projects: Consider participating in newer altcoin projects. This provides early access to potentially high-growth projects at discounted prices. Research upcoming defi projects with use cases, focusing on innovative projects with strong potential.Investing early can yield substantial returns as the project develops.
Conclusion
In summary, an altcoin season, marked by significant price increases in non-Bitcoin cryptocurrencies, may be on the horizon. This potential surge could be driven by investors seeking higher returns in smaller-cap cryptocurrencies, technological advancements in altcoin projects, increased blockchain adoption, and the transition of projects from speculative ventures to real-world applications.Â
Remember, while the potential for significant gains exists during an altcoin season, the cryptocurrency market remains highly volatile. Always invest responsibly.
Welcome back to The Epicenter, where crypto chaos meets corporate cringe.
But surprisingly, crypto has not been the most chaotic corner of the internet as of late.
That honor goes to the startup Astronomer, whose CEOâs cheating scandal broke the web in a glorious meme-fueled media frenzy. The companyâs damage control? Hiring Gwyneth Paltrow as a âtemporary spokesperson.â Do we think theyâre grasping at straws or setting a new standard for PR?
Meanwhile, the markets didnât blink. BTC is still flexing near its all-time highs. Michael Saylorâs bringing a bitcoin-adjacent money-market product to Wall Street. A pharma company just earmarked $700M to stack BNB, and analysts are calling time of death on the four-year crypto cycle. Itâs a steady boom now, kittens.
A few things that are also worth noting: Winklevoss vs. JPMorgan, Visaâs take on stablecoins, and Robinhoodâs Euro drama that defies the chillness of eurosummer.
Letâs get into it đ
âď¸ The On-Chain Pulse: Whatâs Happening on the Front Lines of Finance
This weekâs biggest news in crypto and all things digital assets
Senator Elizabeth Warren slammed the GENIUS Act (to absolutely no oneâs surprise) warning that crypto lobbying is setting up Americans to "pay the price" like they did before the 2008 financial crisis
From meme-fueled PR stunts to Bitcoin-backed money-market funds, this week reminded us that markets move fastâand headlines move faster. With Wall Street automating itself, fintechs beefing with banks, and even your smartphone becoming a miner, anything is possible. Stay curious, stay cynical, and as alwaysâstay sharp and stay liquid. Weâll see you back here in two weeks.
4 Fintech Companies đ¸& Things To Know About đ¤
The fintech revolution is reshaping the way we manage, invest, and move money, breaking down traditional barriers and empowering individuals worldwide. As financial technology continues to evolve at a rapid pace, a select group of innovative companies are leading the charge by offering groundbreaking solutions that redefine banking, payments, and digital assets. Whether youâre a savvy investor, an industry professional, or simply curious about the future of finance, discovering these trailblazing fintech companies is essential to understanding todayâs dynamic financial landscape.
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 Alina Invest - The AI Wealth Manager for GenZ Women
Alina is aimed at women under 25 who identify as beginner investors. They're an SEC-registered investment advisor that charges $120/year for membership. The service "buys and sells for you" and gives up notification updates of recent transactions like a wealth manager would.
đ Getting people to invest early is crucial to building long-term wealth. One thing that holds them back is a lack of confidence and experience. Being targetted "for beginners" and people who live on TikTok should appeal. I love the sense of "we're buying and selling for you." Funds always do that, but making it an engagement mechanic is very smart. The risk here is that building a wealth business will take decades for the AUM to compound. But the next generations, Wealthfront or Betterment, will look something like Alina.
2. Blue layer - The Carbon project funding platform
Bluelayer allows Carbon project developers to take from feasibility studies to issuing credits, tracking inventory, and managing orders. Developers of reforestation, conservation, direct air capture, and other projects can also directly report to industry registries.Â
đ Carbon investing and tax credits are heavily incentivized but need transparent data. By focusing on the developers, Bluelayer can ensure the data, reporting, and credits lifecycle is all managed at the source. This is smart.
3. Akirolabs - Modern Procurement for enterprise
Akiro is a "strategic" procurement platform aiming to help enterprise customers identify risks, value drivers, and strategic levers before issuing an RFP. It aims to bring in multiple stakeholders for complex purchasing decisions at multinationals.Â
đ Procurement is a great wedge for multinational corporate transformation. Buying anything in an enterprise that uses large-scale ERPs is a nightmare of committees and spreadsheets. Turning an oil tanker-sized organization around is difficult, but the right suppliers can have a meaningful impact in the short term. That only works if you can buy from them. Getting people on the same page with a single platform is a great start.
NeoTax allows companies to connect their engineering tools to calculate available tax advantages automatically. Once calculated, the tax fillings are clearly labeled with supporting evidence for the IRS.
đ AWS and GCP log files and data are a goldmine. Last week, I covered Bilanc, which uses log files to figure out per-account unit economics. Now, we calculate R&D tax credits. The unlock here is LLM's ability to understand unstructured data. The hard part is understanding the moat, but time will tell.
In an era where technology and finance are increasingly intertwined, these four fintech companies stand out as catalysts for positive change. By driving progress in digital payments, asset management, lending, and decentralized finance, they are not only making financial services more accessible and efficientâthey are also paving the way for a more inclusive and empowered global economy. Staying informed about their innovations can help you seize new opportunities and take part in the future of finance.
PayPal issued low guidance and warned of a âtransition year.â The stock is down 8% in extended trading despite PayPal reporting a 9% growth in revenue and 23% EBITDA. Gross profit is down 4% YoY. PayPal's total revenues were $29Bn for the year
Adyen reported 22% revenue growth and an EBITDA margin of 46% for the full year. Adyen's total revenues were $1.75bn for the full year. The margin was down from 55% the previous year, impacted by hiring ahead of growth.
đ¤Â PayPalâs Braintree (unbranded) is losing market share in the US, while Adyen is winning it. eCommerce is growing ~9 to 10% YoY, and PayPalâs transaction revenue grew by 6.7%. The higher interest rate environment meant interest on balances dragged up the total revenue figure. Their core business is losing market share. Adyen is outgrowing the market by ~12%.
đ¤Â The PayPal button (branded) is losing to SHOP Pay and Apple Pay. The branded experience from Apple and Shopify is delightful for users; itâs fast and helps with small details like delivery tracking. That experience translates to higher conversion (and more revenue) for merchants.
đ¤Â The lack of a single global platform hurts PayPal, but it helps Adyen. In the earnings call, the new CEO admitted their mix of platforms like Venmo, PayPal, and Braintree are holding them back. They aim to combine and simplify, but thatâs easier said than done.
đ¤Â Making a single platform from PayPal, Venmo, and Braintree wonât be easy. Thereâs a graveyard of payment company CEOs who tried to make âone platformâ from things they acquired years ago. Itâs crucial if theyâre going to grow that they get their innovation edge back. Adyen has one platform in every market.
đ¤Â PayPalâs UK and European acquiring business is a bright spot. The UK and EU delivered 20% of overall revenue, growing 11% YoY. Square and Toast donât have market share here, while iZettle, which PayPal acquired in 2018, is a strong market player. Overall though, itâs yet another tech stack and business thatâs not part of a single global platform.
The two banks provided accounts to UK front companies secretly owned by an Iranian petrochemicals company. PCC has used these entities to receive funds from Iranian entities in China, concealed with trustee agreements and nominee directors.Â
đ¤Â This is the headline every bank CEO fears. Oof. Shares of both banks have been down since the news broke, but this will no doubt involve crisis calls, committees, appearing in front of the regulator, and, finally, some sort of fine.
đ¤Â The "risk-based approach" has been arbitraged. A UK company with relatively low annual revenue would look "low risk" at onboarding. One business the FT covered looked like a small company at a residential address to compliance staff. They'd likely apply branch-level controls instead of the enterprise-grade controls you'd see for a large corporation.Â
đ¤Â Hiring more staff won't fix this problem; it's a mindset and technology challenge. In theory, all of the skill and technology that exists to manage risks with large corporate customers (in the transaction banking divisions) are available to the other parts of a bank. In practice, they're not. Most banks lack a single data set and the ability for compliance officers in one team to see data from another part of the org. Getting the basics right with data and tooling is incredibly hard and will involve a multi-year effort.Â
đ¤Â These things are rarely the failure of an individual or department; the issue is systemic. While two banks are named in this headline, the issue is everywhere. Banks need more data and better data to train better AI and machine learning. That all needs to happen in real-time as a compliment to the human staff. Throwing bodies at this won't solve the visibility issue teams have.
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Welcome to the Dinarian on Locals, where we discuss everything blockchain and digital asset related. We are here to learn from one another as this is a new and ever evolving space. Please post and share what you like, but be respectful to others as they are here to learn as well.
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The Dinarian