According to BlockBeats, on August 4th, tradingBeats (formerly Hyperinsight) monitoring showed that a whale with the code 0xf17 started selling HYPE spot and buying back an equal amount of perpetual short positions, planning to continue exiting its carry trade positions.

This address previously held a near 1:1 ratio of short positions in HYPE spot and futures contracts, earning positive funding rates by hedging against price fluctuations. Based on a position of approximately 146,800 contracts before the reduction, both positions have now decreased to approximately 107,900 contracts each, a reduction of nearly 39,000 contracts, or about 26.5%.

The two TWAP order sets currently in operation are scheduled to process a total of 90,000 HYPE tokens.

Approximately 33,200 coins have been sold in the spot market, with a turnover of approximately US$1.8 million; approximately 33,100 coins have been closed out in the futures market, with a turnover of approximately US$1.795 million.

Including previously completed orders, its short positions in this round of contracts have been reduced by approximately 39,000 contracts. The current notional value of spot and short positions is approximately US$5.87 million each, with a total size of approximately US$11.74 million, a reduction of approximately US$4.24 million compared to before the reduction.

As whales withdrew their positions, HYPE carry trade yields also fell from their highs. According to daily statistics, HYPE's cumulative funding rate decreased from +0.02790% on August 1st to +0.02227% on August 3rd, a drop of approximately 20.2%.

In the last 4 hours: the cumulative funding rate has also decreased by 19.1% compared to the previous 4 hours. Based on the current short position size, its daily gross funding income has decreased from approximately $1,638 to $1,308.

Weekly statistics: From July 28 to August 3, the cumulative increase was approximately +0.17803%, which is 16.9% lower than the high of +0.21425% from July 14 to 20.

HYPE's funding rate is tentatively set at +0.0013%, with an expected annualized return of approximately 10.9%.

According to BlockBeats, on August 4th, based on HTX market data, possibly influenced by the news that "Upbit will list HOME on the KRW and USDT markets," HOME briefly surged by over 30%, currently priced at $0.00899, with a market capitalization of $38.5 million.

According to BlockBeats, on August 4th, Farside monitoring showed that US spot Bitcoin ETFs saw a net inflow of $170.1 million yesterday.

The spot Ethereum ETF saw a net outflow of $11.9 million, ending two consecutive trading days of net inflows.

According to BlockBeats, on August 4th, the Seoul Economic Daily reported that the Bank of Korea has restarted its physical gold purchase program after a 13-year hiatus. The Bank will purchase gold that South Korean gold producers plan to export through the Korea Exchange (KRX) gold market and the Korea Securities Depository and Clearing House (KSD) infrastructure.

The Bank of Korea announced on March 3 that it has established a cooperation framework with the Korea Exchange, the Korea Securities Depository and Clearing Limited (KSD), and gold producer LS MnM to jointly promote domestic gold procurement. The transactions will be conducted in bulk on the KRX gold market, with settlement and custody handled by the KSD.

The Bank of Korea stated that the purchase of export-oriented gold is primarily aimed at reducing the impact on domestic gold market prices, while also minimizing interference with intraday market fluctuations through bulk transactions.

This marks the first time the Bank of Korea has resumed physical gold purchases since 2013. Previously, the Bank of Korea purchased a total of 90 tons of gold between 2011 and 2013, but suspended physical gold purchases due to valuation losses caused by subsequent declines in gold prices.

As of the end of June this year, the Bank of Korea's foreign exchange reserves stood at US$427.36 billion, of which gold reserves were valued at approximately US$4.79 billion, accounting for only 1.1%. With major central banks around the world continuing to increase their gold holdings, this move by the Bank of Korea is seen as a measure to diversify its foreign exchange reserves and reduce its concentration in dollar assets.

However, the Bank of Korea stated that future purchases are not expected to be large. South Korea's annual domestic gold production is approximately 40 to 45 tons, of which only about 4 to 5 tons are exportable.

The Bank of Korea emphasized that the resumption of gold purchases was not based on a judgment of gold price trends, but rather on the timing of the transaction determined by corporate procurement requests, domestic and international gold prices, and market conditions.