The crypto community was just recovering from the aftermath of the Bybit hack, which saw North Korean hackers loot $1.3B from the exchange’s cold storage, and now we’ve had yet another sensational malicious activity.

This time it’s Hyperliquid in the firing line. Read on to find out exactly what went down and how a privacy-first crypto project like Best Wallet Token ($BEST) could potentially 100x as a result?

Dissecting the Hyperliquid-Jelly Meltdown

The popular decentralized crypto exchange Hyperliquid recently delisted the Jelly-my-Jelly ($JELLY) meme coin on the grounds of suspicious trading activity

$JELLY, by the way, fell from $0.21 all the way to $0.01 in just 10 days after its launch on January 30. However, it skyrocketed 400% on March 26, which is when chaos unfolded.

Here’s what happened prior to $JELLY’s delisting by Hyperliquid last week:

• A large crypto whale deposited $7M across three Hyperliquid accounts.
• Two of those accounts took long positions on $JELLY – one of $2.15M another another of $1.9M respectively.
• The third account took a $4.1M short position in order to cancel out the two long trades above.
• As $JELLY’s price rose from $0.01 to nearly $0.45 in a matter of just hours, the short position was liquidated. But the catch is that it was too large a position to be liquidated normally.
• As a result, the short trade was sent to the Hyperliquidity Provider Vault (HLP) for settlement.
• However, when Hyperliquid restricted the whale’s withdrawals, they resorted to selling their remaining $JELLY positions.
• This led to Hyperliquid shutting down the $JELLY market entirely.

All in all, the trader deposited a total of $7.17M but was only able to withdraw $6.26M. Around $900K still remains with Hyperliquid.

Hyperliquid’s Criticism

Big-name crypto personalities, such as the CEO and COO of Bitget, criticized Hyperliquid, saying that the exchange deliberately caused losses to the user.

One of them even said that Hyperliquid ‘may be on track to become FTX 2.0.’

Although the world is torn between Hyperliquid’s recent debacle, the fact remains that there’s a dire need for a reliable crypto storage and management solution. Enter Best Wallet.

What Is Best Wallet?

Best Wallet is a new-age crypto wallet that’s helping users reclaim their privacy. For starters, it’s a non-custodial wallet, meaning you alone have the ownership of your private keys. Therefore, none apart from you will be able to access your crypto assets.

The app also comes with Fireblock’s MPC-CMP wallet technology, which uses cutting-edge cryptographic techniques to safeguard your digital wealth.

We were also impressed to find out that fantastic in-app and crypto-related security is complemented by excellent app access controls.

Thanks to a plethora of 2FA/MFA options, which include biometrics, you don’t have to worry about the unfortunate scenario of your mobile ending up in the wrong hands.

The good news keeps coming, as Best Wallet also offers its users third-party insurance for all their crypto assets stored with Best Wallet. This is a brilliant offering and one you should definitely opt for, especially at a time when hacks and scams are as prevalent as they are.

In addition to rock-solid security, Best Wallet also hits it out of the park when it comes to being user-friendly. It has sleek apps for both Android and iOS – and a browser extension for desktop is on its way.

Last but not least, Best Wallet is also a joy for smart crypto investors who like getting in before the coins are listed on exchanges. That’s because Best Wallet is the only crypto wallet that allows its users to invest in new meme coins on presale directly from within the app.

Buy $BEST – The Next Crypto to Explode

Apart from the above, Best Wallet’s roadmap suggests that it’s soon going to offer support for over 60 chains. This would then make it a one-stop solution for managing all your crypto assets.

If you want to be a part of Best Wallet’s remarkable growth story, consider investing in Best Wallet Token ($BEST) – the native cryptocurrency of Best Wallet and one of the best cryptos to buy now.

Owning $BEST won’t just allow you to ride Best Wallet’s market takeover – it plans to capture over 40% of the non-custodial crypto wallet market by 2026 – but it also comes with its own special perks.

First and foremost, $BEST investors will have to pay lower transaction fees on Best Wallet.

Second, they’ll get priority access to the best crypto presales. This way, they’ll be able to become early investors (which means more profits) in some of the best projects going around.

Third, $BEST investors will have the opportunity to earn extra income through staking. The current rewards rate is 136%. However, it’s worth noting that this rate is dynamic and will likely reduce as the $BEST presale proceeds.

Speaking of the Best Wallet Token presale, it has so far raised over $11.4M, and you can buy each token for just $0.024525 if you get in now.

If this is your first presale purchase, here’s a detailed guide on how to buy $BEST. Also, check out our Best Wallet Token price prediction for more details on the crypto’s future.

Best Wallet’s potential aside, do note that the crypto market is unpredictable. It’s rife with volatility, which is why you must only invest an amount that’s small enough for you.

As always, we urge our readers to do their own research. This article isn’t a substitute for financial advice, after all.

Amid today’s market correction, Chainlink (LINK) has lost its recent gains, falling back to a crucial support level. An analyst suggests a monthly close above its current range could position the cryptocurrency for a 35% surge.

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Chainlink Retest Crucial Price Zone

Chainlink has retraced 9.1% in the past 24 hours to retest the key $14 support zone again. The cryptocurrency surged 15.7% from last Friday’s lows to hit an 18-day high of $16 on Wednesday, momentarily recovering 35% from this month’s low.

However, the recent market correction halted the momentum of most cryptocurrencies, with Bitcoin (BTC) falling back to the $83,700 mark and Ethereum (ETH) dipping to the $1,860 support zone.

Today, LINK dropped from $15 to $14.07, losing all its Wednesday gains. Previously, analyst Ali Martinez noted that the cryptocurrency has been in an ascending parallel channel since July 2023.

Chainlink has hovered between the pattern’s upper and lower boundary for the last year and a half, surging to the channel’s upper trendline every time it retested the lower zone before dropping back.

Amid its recent price performance, the cryptocurrency is retesting the channel’s lower boundary, suggesting a bounce to the upper range could come if it holds its current price levels.

Meanwhile, Rekt Capital highlighted that the token is testing its multi-month symmetrical triangle pattern, which could determine the cryptocurrency’s next move.

As the analyst explained, Chainlink consolidated inside a “Macro Triangular market structure” for most of 2024 before breaking out of the pattern during the November market rally.

During the Q4 2024 breakout, the cryptocurrency hit a two-year high of $30.9 but failed to hold this level in the following weeks. As a result, it has been in a downtrend for the past three months, with LINK’s price falling back into the Macro Triangle.

“The main goal for LINK here is to retest the top of the pattern to secure a successful post-breakout retest,” Rekt Capital detailed, adding, “It’s possible this is a volatile post-breakout retest.”

LINK Needs To Hold This Level

Rekt Capital pointed out that, historically, Chainlink has had downside deviations into this price range: “Back in mid-2021, LINK produced a downside deviation into this price area in the form of multiple Monthly downside wicks.”

Nonetheless, the cryptocurrency is downside deviating “but in the form of actual candle-bodies closes rather than downside wicks” this time.

The analyst also highlighted that, like in 2021, LINK is trading within a historical demand area, at around $13-5 and $15.5, testing this zone as support. Based on this, the cryptocurrency must successfully hold this area to “position itself for upside going forward.”

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Moreover, the retest is key for reclaiming the top of its triangular market structure. Breaking and recovering that level would “exact a successful post-breakout retest” and enable the price to target the $19 resistance in the future.

The analyst concluded that if LINK closes the month above the triangle top, it “would position price for a successful retest, despite the downside deviation.”

As of this writing, Chainlink trades at $14.09, a 6.9% drop in the monthly timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com

The crypto market is on high alert ahead of April 2, a date some analysts are calling “the biggest event of the year by an order of magnitude.” Macro economist Alex Krüger (@krugermacro), warns that President Donald Trump’s upcoming announcement of new reciprocal tariffs could deliver a seismic jolt to global markets — including crypto.

Why April 2 Is Massive For Crypto

In a post shared on X, Krüger describes the looming announcement, which the president has dubbed “Liberation Day,” as “10x more important than any FOMC” meeting: “April 2nd is similar to election night. It is the biggest event of the year by an order of magnitude. 10x more important than any FOMC, which is a lot. And anything can happen.”

According to Krüger, Trump might choose one of several paths: “Trump could go soft, in which case markets would rally fast and furiously. Or could go half-way, adding uncertainty on timelines, in which case markets would take out the stops of all longs and shorts. Or go all out, in which case markets could easily crash another 10% to 15%, fast.“

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Krüger also suggests that “the US economy is still strong, but will highly likely slow down due to tariffs regardless of the path Trump chooses.” Nevertheless, he notes that many economists have already factored in a sharp year-end slowdown. He stresses that April 2 could mark the peak of market anxiety, aligning with the arrival of US Tax Day just two weeks later. “Either way, you all want to be prepared and ready to act on ‘Liberation Day.’ It will be big.”

Trump’s “Liberation Day” announcement will reportedly focus on “reciprocal tariffs” targeting specific countries or blocs deemed to maintain unfair trade barriers. Although this strategy appears “more targeted than the barrage he has occasionally threatened,” officials familiar with the matter believe it could still prove far-reaching.

President Trump has repeatedly signaled that these tariffs would be significant. Citing trade disparities with nations such as the European Union, Mexico, Japan, South Korea, Canada, India, and China, he asserts the US has been treated unfairly for too long. In remarks from the Oval Office, he declared: “April 2nd is going to be liberation day for America. We’ve been ripped off by every country in the world, friend and foe.”

Worst Case Scenario

Aides and allies suggest that while some countries may be excluded, Trump is looking for immediate impact. Tariff rates could take effect right away, adding to market fears of spiraling retaliation. In this case, Krüger says: “In worst case scenario sh*t would hit the fan then tariffs would start coming off as Trump negotiates hard in the following month, in which case peak negativity would hit around week 2 of April, which would coincide with US Tax Day.”

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Senior officials, including National Economic Council Director Kevin Hassett and Treasury Secretary Scott Bessent, have indicated that the administration is focusing on a “dirty 15” group of countries where tariff and non-tariff barriers are allegedly most egregious. Hassett recently remarked, “It’s not everybody that cheats us on trade, it’s just a few countries, and those countries are going to be seeing some tariffs.”

For the crypto market, global macroeconomic events have increasingly played a pivotal role in price action in recent weeks. The April 2 “Liberation Day” announcement arrives at a time when digital asset traders already face headwinds from monetary policy shifts and a slowing global economy. Krüger believes that if the tariffs come in softer than expected, “markets would rally fast and furiously.” On the other hand, a maximalist tariff approach could deliver a significant shock, potentially denting cryptocurrencies.

At press time, the total crypto market cap stood at $2.81 trillion.

Featured image from iStock, chart from TradingView.com