Degen Digest: March 19, 2025

TL;DR

• A high-stakes trader exploited Hyperliquid’s liquidity model, forcing $4M in losses before returning with a 6,000 BTC short and walking away with $9.5M in profit.

• BNB Chain’s trading volume surpassed Solana, fueled by CZ’s meme coin promotions and the rise of Four.meme.

• Tracking crypto KOLs and BNB influencers can provide alpha signals for meme coin trading opportunities.

Hyperliquid Whale: A Market Manipulation Masterclass?

Whale Strategy Breakdown

• First Move: The whale longed 170,000 ETH with 30x leverage, controlling 25% of Hyperliquid’s total open interest.

• Intentional Liquidation: They then withdrew all funds, forcing their own liquidation. Due to Hyperliquid’s liquidation model, the platform had to absorb ⅔ of the position, leading to a $4M loss for its HLP Vault and triggering mass withdrawals, impacting TVL (Total Value Locked).

• Regulatory Gaps: Unlike centralized exchanges (CEXs) like Binance, which impose position size limits based on leverage, Hyperliquid lacks such restrictions, allowing this exploit.

The Whale Returns with a 6,000 BTC Short

• Liquidation Hunt: When their liquidation price neared $85.5K, crypto influencers (KOLs) like @CBB0fe rallied traders to push BTC up and liquidate them. However, the whale added another $5M, extending their short position.

• Profitable Exit: Unlike before, they gradually closed their position in profit, walking away with $9.5M in gains before withdrawing all funds.

Who is Behind This?

BSC Chain: The New King of Meme Coins?

Why is BSC Surging?

1. CZ’s Influence: Binance’s founder, CZ, has been actively shilling BNB-related meme coins, fueling speculation.

2. Four.meme Expansion: The Four.meme platform is minting 6+ new meme coins daily, whereas Solana’s Pump.fun is struggling to maintain momentum.

3. High-Profile Listings:



• $Mubarak—a meme coin inspired by CZ’s March 13th tweet—saw explosive growth after he bought 1 BNB worth of it.
• $TST and $TUT followed a classic Binance Alpha → Bybit Futures → Binance Futures listing cycle, pushing $220M market cap peaks before corrections.
• However, Binance Spot opted to list $BMT instead, leading to 40% price crashes as traders dumped holdings in disappointment.

What’s Next?

• BNB Chain’s meme coin liquidity is growing, but whether this trend is sustainable remains uncertain.

• Solana’s meme coin scene has cooled, making early entries on BNB meme coins potentially more lucrative.

• Following CZ and top BNB influencers could provide alpha signals—setting alerts for their tweets and having BNB ready on Four.meme is a strategy worth considering.

Key Takeaways

1. Hyperliquid’s whale trader continues to manipulate markets, exposing liquidity vulnerabilities.

2. Meme-coin trading volume is shifting from Solana to BNB Chain, with CZ’s influence driving speculative surges.

3. Keeping track of top crypto KOLs can provide alpha signals—consider setting alerts for BNB ecosystem influencers on X.