Daily Alpha and Summary. March 27, 2025

DeFi

Hyperliquid suffered its second whale manipulation in two weeks, this time allegedly from CEX cabal manipulating the Jelly price on Hyperliquid in an attempt to leave the platform with a large debt $12M initially. However, Hyperliquid’s last-minute validator ‘decentralization’ decision to close the Jelly position saved them from significant debt, resulting in a $700K loss.

“Decentralization”

Dydx includes themselves in the drama

Stay Safe

First ETH oracle to launch in 2017, securing DAI and USDS raised $12M seed round led by Strobe Ventures as they build to bring transparency in RWA assets

ETH devs successfully deploy Pectra on Hoodi testnet (a network created on March 17 specifically to finalize Pectra testnet after two failed attempts using Holesky and Sepolia)

Cosmos Interchain devs test IBC txn from Cosmos to ETH expanding interoperability between the two chains

Web3 security firm Harpie shuts down due to financial difficulties, they previously raised $4.5M in 2022