In the past hour, total liquidations across the network reached $173.83 million, with $165.06 million from long positions, with $8.78 million from short positions. BTC liquidation $83.92 million, ETH liquidation $65.90 million.

Odaily Planet Daily reports that Hyperliquid's native token HYPE surpassed Solana's SOL on Wednesday, marking a significant milestone for the decentralized perpetual contract exchange. Data shows that HYPE hit an all-time high of $74.67 on Tuesday and is currently trading at approximately $73.15, higher than SOL's $72.35. Meanwhile, SOL has fallen to its lowest level since 2023. Although HYPE's market capitalization has risen above $16 billion, it remains significantly lower than Solana's approximately $42 billion. CoinShares points out that HYPE is one of the few crypto assets with a direct correlation between protocol activity and token demand.

According to data from Odaily Planet Daily, the number of monthly venture capital deals in the crypto industry fell to around 50 in May, returning to pre-2021 levels when the industry was much smaller. The contraction in deals occurred in almost all categories, with infrastructure and crypto financial services, two of the most active sectors in the past, also nearing multi-year lows. The report suggests that the cooling in funding is mainly due to two factors: first, investors' attention and funds continue to shift towards AI, structurally squeezing funding in the crypto sector; second, the crypto industry currently lacks the large number of highly attractive early-stage projects seen in the 2021 and 2024 cycles, leading investment institutions to be more cautious in their selection.

According to Iranian media Fars News, Iran has outlined a four-phase plan for the agreement reached with the United States. The first phase focuses on a complete cessation of military operations on all fronts, including those involving Iran, the United States, and the resistance axis. The second phase centers on implementation measures for four key issues: the Strait of Hormuz and related mechanisms, lifting the blockade, lifting oil restrictions and sanctions, and unfreezing some Iranian assets. The third phase will initiate broader negotiations on sanctions and the nuclear issue after objective and verifiable measures are implemented. The fourth phase involves establishing a monitoring committee to oversee the implementation of the agreement and track the parties' compliance. (Jin Shi)

According to the Federal Reserve's Beige Book, prices rose at a moderate to robust pace overall, with most districts reporting higher inflation rates than the previous report. The districts noted that energy costs related to the Middle East conflict were the primary driver of inflationary pressures, impacting sectors such as shipping, packaging, groceries, and fertilizers. Non-labor costs continued to rise faster than selling prices, raising broader concerns about squeezed profit margins. The ability of industries to pass on higher costs varied, particularly among consumer-facing companies. Some districts indicated that businesses in multiple regions adopted strategies to cope with inflation, including supply chain optimization, product adjustments, reduced supply, and temporarily absorbing higher costs to maintain customer demand. (Golden Ten)