DeFi
Summary Linear Finance, a DeFi protocol from Hong Kong, experienced a significant hack on the evening of 21/09, resulting in the depletion of its stablecoin Linear USD (ℓUSD) liquidity on PancakeSwap and Ascendex. This incident caused ℓUSD to depeg heavily. The Attack The attacker managed to mint an unlimited
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Ethereum's gas fees skyrocketed by a staggering 1,900%, jumping from 15 to 300 gwei, precisely when Binance executed a large volume of transactions. Binance "blows up" Ethereum gas fees by 1,900%. Photo: Analytics Insight A series of transactions from Binance wallets caused Ethereum'
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The Bitcoin network is currently facing congestion with more than 460,000 transactions pending, leading to significant fluctuations in transaction fees. According to data collected from Bitcoin's Mempool, the world's largest cryptocurrency network is experiencing its longest-ever congestion period, with over 460,000 transactions awaiting processing.
DeFi
Overview Layer-2 Base has launched Pessimism, a security monitoring system designed to enhance security within the Optimism ecosystem. Introduction to Pessimism As part of its decentralization efforts, layer-2 Base has introduced Pessimism, an open-source monitoring system aimed at bolstering security across the Optimism ecosystem. Pessimism is engineered to detect protocol
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Optimism, the layer-2 solution on Ethereum, has unexpectedly announced a private sale of OP tokens totaling $162 million. Optimism sells $162 million worth of OP tokens to 7 investment funds According to the latest update posted by OP Mainnet (Optimism) on social media, the Ethereum layer-2 project conducted an impromptu
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The cryptocurrency market, including Bitcoin, showed no significant negative reaction following the Federal Reserve's decision to maintain interest rates. Fed holds interest rates, Bitcoin and crypto market remain stable. Photo: AP As anticipated by financial observers, the U.S. Federal Reserve (Fed) announced its decision to keep interest
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A year post The Merge, Grayscale has finally decided to relinquish all rights associated with the ETHW tokens received in the past. Grayscale abandons 3.1 million ETHW received after The Merge. Photo: Blockworks As reported by Coin68, Ethereum successfully underwent The Merge upgrade on September 15, 2022, transitioning from
DeFi
The Growing Competition in the Stablecoin Market In the last three months, especially after the Shanghai upgrade and the boom of Liquid Staking, the battle among stablecoins has become a hot topic in the market with significant changes. Despite enjoying stable yields from ETH, the scalability of decentralized stablecoins still
DeFi
Overview Daniele Sestagalli, the notable figure behind the prominent DeFi 2.0 projects of 2021, has re-emerged with WAGMI, a revamped version of the previously known Popsicle Finance (ICE). Historical Background Daniele Sestagalli gained fame in the DeFi community during the mid to late 2021 DeFi 2.0 wave. He
DeFi
Overview GroDAO, a revenue aggregator platform, has voted to dissolve due to market difficulties, poor performance, and the departure of key team members. Proposal Approval The proposal to dissolve the GroDAO protocol received 70.95% approval from its community, offering stakeholders a clear exit strategy. The proposal included maintaining GrodaPod
DeFi
Overview Fuji Finance, a cross-chain liquidity aggregation platform, has declared the cessation of its development due to the ongoing bearish market conditions. Shutdown Announcement After two and a half years of operation, Fuji Finance has decided to cease its activities. The primary reason cited by the team is the inability
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Bitcoin (BTC) trading volume on Binance has seen a significant decline over the past month, according to data from K33 Research. Bitcoin (BTC) Trading Volume on Binance Drops by Over Half. Image: Bloomberg Legal controversies with U.S. regulators and global regulatory tightening have severely impacted Bitcoin (BTC) trading volumes
