Key Market Insight Discrepancy on May 2nd - A Must-Read! | Alpha Morning Report

By: blockbeats|2025/05/02 10:05:14

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Top News

1. Bitcoin Surges Above $97,000

2. Strategy Plans to Raise Another $21 Billion to Buy Bitcoin

3. House Republicans to Release Draft Digital Asset Bill by May 6

4. Coinbase Announces Suspension of Movement (MOVE) Trading on May 15

5. ‘SOL Version of MicroStrategy’ DDC to Receive $24 Million Private Equity Investment to Buy More SOL

Articles & Threads

1. “RWA Perpetual Product Crisis: Why the GLP Model is Doomed to Fail RWA Perpetual?”

The current RWA perpetual products (such as Ostium) have seen a surge in usage, but the GLP-style liquidity model is unsustainable due to high funding rates, trader vs. LP zero-sum game, lack of hedging mechanisms, which limits platform expansion. In contrast, HyperLiquid performs better with a more flexible HLP model. In the future, if Ostium shifts to an order book model to reduce fees and improve market efficiency, only then can long-term healthy growth be achieved.

2. “Unveiling the Crazy Truth Behind the ADL Mechanism, Don't Let Exchanges Easily Take Your Money”

This article explains the Auto-Deleveraging (ADL) mechanism in the cryptocurrency market, particularly using the example of $MANEKI to illustrate how ADL compensates for underfunded market liquidations by forcibly closing profitable clients' positions. The article notes that ADL execution suffers from various opacities, such as price discrepancies and delayed execution. The author emphasizes the importance of understanding liquidation and ADL mechanisms for a deeper comprehension of the crypto market and encourages readers to provide feedback for improvement.

Market Data

Daily Market-wide Funding Heatmap (as reflected by the funding rate) and Token Unlocks

Data Source: Coinglass, TokenUnlocks

Funding Rate

Key Market Insight Discrepancy on May 2nd - A Must-Read! | Alpha Morning Report

Token Unlocks

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Contents

Popular coins

Latest Crypto News

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15:42

Data: Bitcoin ETF saw the largest single-day inflow since mid-January yesterday

Yesterday's data showed that the net inflow into Bitcoin ETFs in the United States was $663.9 million, with IBIT having a net inflow of $284 million, FBTC a net inflow of $163.4 million, and ARKB a net inflow of $117.9 million. This data set a record for the largest single-day inflow this year.

BTC

15:42

The total market value of stablecoins has reached a new high, and DeFi TVL has rebounded to 100 billion dollars

With the market warming up, a series of indices in the crypto market are showing a rebound trend. The total market value of stablecoins has increased by 0.88% in the past week, currently reported at $32.1408 billion, reaching a new high. It is worth noting that USDT, which had been contracting its p...

15:42

Data: The current whale position on the Hyperliquid platform is 3.715 billion USD, with a long-short position ratio of 1.02

According to Coinglass data, the current holdings of whales on the Hyperliquid platform amount to $3.715 billion, with long positions totaling $1.874 billion, accounting for 50.44% of the holdings, and short positions totaling $1.841 billion, accounting for 49.56%. The profit and loss for long posit...

HYPE

14:42

Viewpoint: Ethereum's technological form has made a breakthrough, with a target price pointing to 2900 USD

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