News

BlockBeats News, May 28, according to Hyperinsight Monitoring, a whale on the Hyperliquid platform continues to sell off HYPE spot, unloading approximately 57,300 tokens in a TWAP (Time-Weighted Average Price) manner, equivalent to about $3.3 million at the current price. At the same time, the same address also dumped approximately 2.28 million units of the Hyperliquid ecosystem Meme coin PURR, worth about $200,000. Address: 0x77375a8c9d13bf79afb2a87f1b0ac1dfd5f5bf66

BlockBeats News, May 28th, according to HyperInsight monitoring, a new address on Hyperliquid has completed a large position opening. The address has now bottomed up with 40x leverage, longing 416 BTC, with a position value of approximately $30.56 million. The average entry price is $73,345, and the liquidation price is at $72,429. Currently, the address has placed a take-profit order and plans to exit at $74,400. It is reported that this address had deposited $468,000 to the platform yesterday, initiated a significant short position on BTC, and completely closed the position half an hour ago, realizing a profit of $311,000, with a return rate of 66.5%. After closing the short position in the past half hour, the address immediately went long after taking profits. Address: 0x0df25979a16d993e55bd58d05b6197c71634ab64

Both of these rare earth producers are supported by the federal government under the leadership of President Trump. On the 27th local time, it was reported that Mountain Pass Materials Company filed a lawsuit in Texas last week against USA Rare Earth, accusing the latter of "stealing" its technology developed for permanent magnets. In court documents, Mountain Pass Materials claimed that USA Rare Earth had "repeatedly failed to achieve commercial and performance goals and has now resorted to technology theft." The core dispute in this lawsuit centers on a patented technology owned by Mountain Pass Materials aimed at improving the "coercivity"—that is, the resistance to demagnetization—of magnets. The company accused a former employee who joined USA Rare Earth last year of disclosing related technology to the new employer, stating that these technologies are the result of "years" of work and "millions of dollars" in investment. Mountain Pass Materials further alleged that USA Rare Earth has a habit of recruiting employees from other companies and "then misappropriating trade secrets through these employees." USA Rare Earth responded by saying that Mountain Pass Materials' lawsuit "misrepresents our company, culture, and people" and will be "vigorously defended." In July last year, the U.S. government acquired a 15% stake in Mountain Pass Materials and signed a 10-year agreement with provisions such as minimum product pricing. Mountain Pass Materials has also signed a magnet supply agreement with General Motors. On the 13th of this month, Mountain Pass Materials CEO James Litinsky stated that the company’s Mountain Pass rare earth mine in California will "soon" begin rare earth separation operations. USA Rare Earth's planned mining operations are still in the early stages, targeting large-scale commercial production by 2028. This year, the company received about $1.6 billion in conditional funding from the U.S. government for its planned rare earth mine in Texas and a magnet plant in Oklahoma.