XRP drops below $3

- ZEC surged 1122.25% in a year, reversing sharply in recent months with 69.97% gains over 30 days. - Massive short liquidations occurred on platforms like LookOnChain and Hyperliquid, with losses exceeding $25 million. - A trader on LookOnChain lost $3.28 million after ZEC’s price jumped past $757, triggering liquidation. - Hyperliquid’s largest ZEC short faces $22.04 million in losses as rising prices outpace cost-averaging strategies.

- Hong Kong launches live crypto pilot under Project Ensemble, using e-HKD to advance tokenization in traditional banking and position itself as a global crypto hub. - The pilot focuses on tokenized money-market fund settlements and aims to enable 24/7 transactions via tokenized central bank money by 2026. - Collaborations with Singapore and firms like UBS/Ant expand blockchain integration, while a HK$10B tokenized green bond highlights fintech-traditional finance convergence. - Western firms like Adams St

Quick Take Summary is AI generated, newsroom reviewed. Bitwise CEO says the bear market may be ending. Horsley highlights stronger market conditions. XRP Spot ETF is set to launch next week. Investors expect a more stable phase ahead.References Bitwise CEO - Hunter Horsley says that we are on the verge of exiting a bear market! BITWISE SPOT #XRP ETF WILL LAUNCH NEXT WEEK