According to Coinglass data, the current average funding rate for ETH across the entire network over the past 8 hours is -0.0023%. Among major exchanges, Binance's rate is -0.0032%, OKX's is -0.0136%, Bybit's is -0.0013%, and Gate's is -0.0091%.

According to Huoxun Finance, Gate Alpha will launch its 42nd Hot Coin Trading Competition on June 7th at 10:00 AM (UTC+8). Registered users who trade designated hot coins can share in a $60,000 airdrop reward. The event features three tiers of rewards: Users who register without an invitation code will receive one entry into a regular blind box draw for every 200 USDT traded, with a total prize pool of approximately $20,000, guaranteed at least 0.19 GT and a maximum of 7.81 GT per draw; users who register with an invitation code will receive one entry into a premium blind box draw for every 500 USDT traded, with a total prize pool of approximately $30,000, guaranteed at least 0.39 GT and a maximum of 15.63 GT per draw; there is also a $10,000 exclusive prize pool for new users. New Gate Alpha users with zero trading history who deposit corresponding assets into their Alpha account will receive an airdrop equal to 0.5% of the deposited market value, on a first-come, first-served basis. Currently, Gate Alpha supports multiple popular public chains such as SOL and ETH, and seamless trading of tokens across the entire chain can be achieved through contract address searches.

In the past hour, total liquidations across the network reached $11.46 million, with $1.40 million from long positions, with $10.06 million from short positions. BTC liquidation $3.61 million, ETH liquidation $3.35 million.

According to Odaily Planet Daily, based on monitoring by on-chain analyst Yu Jin, a major whale (ETH) continued to buy 28 million USDT worth of ETH when the price dropped to $1505 at 1 PM. This whale borrowed $128 million to buy 78,000 ETH within a day and a half, at an average price of $1645, achieving a leverage ratio of 3x. Currently, the liquidation prices for its two borrowed positions are $1356 and $1280 respectively.

Odaily Planet Daily reports that AI investor degentrading posted on the X platform that 7709.HK appears to need to sell 2 million SK Hynix shares at the opening of the Korean market on Monday, equivalent to 40% of the daily trading volume. The post also notes that this data is based on personal statistics and encourages community feedback and corrections. Note: 7709.HK is a daily (2x) leveraged SK Hynix product issued by CSOP (Southern 2x long SK Hynix). Rebalancing is usually executed at the close of the Korea Exchange (KRX), but due to the time difference and the potential gap at the opening on Monday, the actual selling pressure may be concentrated in the early morning session. This data is an estimate by the analyst based on publicly available market information.