Backpack Wallet Integrates Monad Testnet; Whale Moves 123,500 SOL

Backpack Wallet, a leading digital asset wallet provider, has announced its official support for the Monad Testnet. This move is set to enhance the interoperability and functionality of the Backpack Wallet ecosystem, enabling users to participate in the Monad network's test phase.

The Monad Testnet is a crucial step in the development of the Monad network, a decentralized platform designed to facilitate cross-chain asset transfers and interoperability. By integrating the Monad Testnet, Backpack Wallet users will have early access to the Monad network's features and can contribute to its development by providing feedback and identifying potential issues.

In other news, a significant whale address has withdrawn a substantial amount of SOL (Solana) from Binance, totaling 123,500 SOL. This transaction highlights the ongoing interest and activity in the Solana ecosystem, as whales continue to engage with the network and its native cryptocurrency.

Meanwhile, a whale on Hyperliquid has demonstrated a strong commitment to its long position, adding 3.5 million U as margin despite a floating loss of 9.85 million U. This move suggests that the whale remains bullish on the asset and is willing to increase its exposure despite recent market volatility.

In the world of memecoins, a notable entity has deposited a significant amount of SHIB (Shiba Inu) into Coinbase, totaling 211.9 trillion SHIB, equivalent to around $32.55 million. This transaction indicates a growing interest in SHIB and its potential as a memecoin with a large and engaged community.

Lastly, Mantle's multi-signature wallet has successfully deposited 15.5 million MNT (Mantle) into Bybit, equivalent to around 16.32 million US dollars. This transaction showcases the growing adoption and liquidity of the Mantle ecosystem, as users seek to engage with the network and its native cryptocurrency.