Bitget Research Weekly News: Curve stablecoin pool suffers from hacker attack, HashKey approved as the first retail-oriented trading platform in Hong Kong.

2023-08-04 17:31

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During the past week (7/31-8/4), there have been many new popular currencies and topics in the market.

1. Market Trends

This week (07.31-08.04), the most focused topics in the market are:

· Curve founder continues to sell CRV, HashKey approved as Hong Kong's first retail-oriented trading platform.

· Non-farm payroll data will be released tomorrow, and the market is experiencing a pullback to avoid risks.

· Short-term rebound in the market, with 6 companies including Grayscale recently submitting applications for Ethereum futures ETF.

· The market trend is weak, and $BALD on the BASE chain collapsed overnight after a thousand-fold increase.

· Curve TVL plummeted due to theft, while Base ecosystem saw a hundredfold increase in a single day.

2. 热门项目 Popular Projects

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2. Popular Projects

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This week (07.31-08.04) the most popular projects are:

X (Token): A meme coin with the "X" theme on the Ethereum mainnet. The trading volume in the past 24 hours has surged, reaching $13 million, with $5 million from CEX trading and $8 million from DEX trading. Bitget announced the launch of X yesterday, and it has risen by 40% in the past 24 hours. Risk warning: Currently, there are many tokens with the symbol "X" on the chain. Please carefully check the token contract address and risks when trading, or trade on CEX.

CRV (Token): After suffering an attack, Curve suffered heavy losses and its coin price has fallen for two consecutive days. Currently, the founder of Curve has a CRV position liquidation price of 0.38-0.4 USDT on various lending platforms, which poses significant potential risks to CRV and DeFi. The funding rate for CRV contracts on multiple mainstream CEX platforms has reached -0.4%, and short selling sentiment is relatively high.

ORDI (Token): The BRC-20 track currently lacks hotspots, with the number of Bitcoin addresses reaching a historical high of 47.9 million. The number of addresses holding $ORDI is only 12,700, accounting for 0.026% of Bitcoin holders. The track is in the development stage, with trading volume mainly concentrated in ORDI. The total trading volume across the network in the past 24 hours was $14 million.

Pandra (NFT): Cross-chain Pandra NFT series can interact with zkBridge and LayerZero simultaneously. The deadline for the task is August 20th, and the airdrop party has pushed up the transactions of this NFT.

Uniswap (Dapp): Uniswap removed the HEX token from its interface after the US Securities and Exchange Commission (SEC) declared it an unregistered security earlier this week. The HEX token is now listed as "unsupported" on the Uniswap interface with a general statement indicating that the protocol blocks tokens that "violate trademarks, have been proven to be scams, or are based on other legal considerations". The recent performance of DEFI suggests increased regulatory pressure.

Linea (Dapp): An Ethereum Layer 2 solution launched by ConsenSys. Currently, the Linea mainnet has crossed 19,719 ETH with a total of 115,000 independent users. Two weeks ago, LayerZero launched the Linea mainnet, and applications can integrate with the new zkEVM rollup through LayerZero. Today, the Uniswap community proposed an on-chain vote to deploy V3 to the Linea network.

Optimism (Dapp): Ethereum Attestation Service (EAS) announced on social media that EAS has been integrated into OP Stack. All future deployments of OP Stack blockchain will automatically include the EAS smart contract in the genesis block stage, which mainly strengthens the adoption of the super chain. According to Dune data, the daily transaction volume of Optimism has surpassed Arbitrum.

3. Hot Searches

This week's (07.31-08.04) most popular topics are:

KAS (Token): Kaspa, a POW token that has broken its previous high and is currently the top choice for GPU miners. It is quite popular in the mining community. The development team is technically strong, with the founder being a Harvard postdoctoral fellow and a core developer of GHOSTDAG. The technology is applied to the Kapas network, attempting to solve the blockchain network's impossible triangle. The project has good natural traffic and does little marketing, relying mostly on word-of-mouth. The token has reached a new all-time high and is now listed on Bitget.

WLD (Token): Worldcoin. Yesterday, the Kenyan government suspended Worldcoin's related activities in the country. The local government expressed concerns about Worldcoin collecting citizens' iris data and requested a comprehensive investigation of the project. Worldcoin claimed yesterday that it will allow companies and governments to use its ID system. The project has a high profile, and the token's performance was average yesterday. Bitget has listed the token.

CRV (Token): The founder of Curve sold 54.5 million CRV tokens through OTC and other means yesterday, receiving a total of 21.8 million USDT and partially repaying loans in protocols such as FXS. This helped alleviate market liquidation risks. Buyers of Curve tokens include individuals and institutions such as Sun Yuchen, Wintermute, DCF, DWF, Huang Licheng, Prisma Finance, and Cream Finance. The monopoly of CRV as a liquid token may be broken, and the Curve ecosystem may receive empowerment from relevant parties in the future, which is a medium to long-term positive for Curve.

HEX(Token): According to The Block, the US Securities and Exchange Commission (SEC) has sued Richard Schueler (also known as Richard Heart), accusing him of selling unregistered securities in violation of federal securities laws. Richard Heart is the founder of Pulsechain, PulseX, and Hex projects, and the SEC alleges that he misappropriated at least $12 million in customer funds.

Bitget Research Institute focuses on "focusing on on-chain data and mining valuable assets", mining cutting-edge value investments through real-time monitoring of on-chain data and regional hot searches, and providing institutional-level insights for cryptocurrency enthusiasts. As of now, it has provided Bitget global users with early value assets in multiple popular sections such as Arbitrum Ecology, AI Ecology, and SHIB Ecology, creating better wealth effects for Bitget global users through data-driven in-depth research.

【Disclaimer】The market carries risks and investments should be made with caution. This article does not constitute investment advice and users should consider whether any opinions, views or conclusions in this article are suitable for their specific situation. Investing based on this article is at your own risk.