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Gate Institute: Anchorage Digital and Ethena Labs launch the first GENIUS compliant stablecoin | WOO X suffers an attack with a loss of approximately 14 million USD
Crypto Market Overview
Popular Tokens on Juejin
VINE Vine (+51.9%, circulating market cap 59,968,900 USD)
According to Gate.io market data, the current price of the VINE token is $0.05959, up approximately 51.9% in the last 24 hours. VINE is a token issued by Rus, the founder of the short video platform Vine, based on the Solana blockchain, aimed at commemorating the spirit of unity and creativity. Vine was founded in June 2012 and was acquired by Twitter (now X) in October of the same year, and is a free mobile application that allows users to create and share short videos of up to 10 seconds long.
Before July 24, the price of VINE fluctuated in the range of $0.04 to $0.045 for a long time, with relatively low trading volume. However, following Musk's announcement on social media that "we will relaunch Vine in the form of AI", the price of VINE quickly rebounded, once breaking through $0.08 and reaching a peak, indicating the market's high attention to the revival of this project.
MDT Measurable Data Token (+104.5%, circulating market cap 2,060.09 million USD)
According to Gate's market data, the current price of the MDT token is $0.03412, up 104.5% in the last 24 hours. Measurable Data Token (MDT) is a blockchain project focused on data control and monetization. The MDT ecosystem creates smart contracts through blockchain technology to ensure that individual users can receive their rightful earnings. Its consumer-oriented product, RewardMe, allows users to earn rewards by contributing data, while MDT only processes aggregated anonymous data to protect user privacy. For enterprises, MDT offers the Measurable AI product, utilizing blockchain technology to provide accurate, real-time, and actionable consumer insights.
Recently, MDT has garnered attention due to the launch of the new feature RewardMe 2.0, which includes MDT staking and MDT cashback. Additionally, MDT's second quarter financial report showed a 5% increase in revenue compared to the previous quarter, reaching 1.36 million dollars, and the number of users continues to grow. Meanwhile, a large influx of funds has entered the market, with strong buying sentiment driving prices up rapidly, briefly reaching a high of 0.045 dollars. This price surge has been accompanied by record trading volumes, indicating strong market demand.
HYPER Hyperlane (+28.04%, circulating market cap $9,294.89 million)
According to Gate.io market data, the current price of HYPER token is $0.51748, with an increase of approximately 28.04% in the last 24 hours. Hyperlane is a permissionless blockchain communication protocol designed to enable seamless connections and data exchanges between different blockchains. It allows developers to build cross-chain applications and provides users with cross-chain interaction experiences without relying on centralized bridges or institutions. The HYPER token is used for staking to secure cross-chain communications and serves as proof of participation in governance and rewards.
Previously, the price of HYPER fluctuated narrowly between $0.35 and $0.38, with relatively low and stable trading volume. However, with the upcoming release of Hyperlane Warp Routes 2.0, the price has successfully broken through the long-term consolidation range, accompanied by a significant increase in trading volume. Hyperlane Warp Routes 2.0 (HWR 2.0) will leverage EverclearOrg to achieve native asset rebalancing, facilitating rapid bridging and crossing more blockchains, truly realizing effective native asset access. The initial routes of HWR 2.0 are about to be opened, marking the latest version of Hyperlane Warp Route, which will make it possible to obtain liquidity from multiple collateral chains with native rebalancing capabilities.
Alpha Interpretation
WOO X platform was attacked, causing losses of approximately 14 million USD, and the platform promises full compensation to affected users
According to a tweet from the blockchain security agency Cyvers Alerts, the WOO X trading platform has recently encountered multiple suspicious transactions involving multiple blockchain networks such as BTC, ETH, BNB, and ARB, with estimated losses exceeding $12 million. In particular, on the Ethereum network, a suspicious address received $1 million in USDT from WOO's hot wallet and exchanged it for ETH. Additionally, approximately $7.3 million in funds was transferred to a new address. The WOO team conducted further investigations and confirmed that the loss amount from this hacking incident has reached $14 million. The platform stated that it will fully compensate affected users' funds and is collaborating with external security teams and other exchanges to prevent further outflow of funds.
This attack incident has once again exposed the security issues in the encryption industry. Although the platform took swift response measures and promised to fully compensate the affected users, it still raised doubts in the market about its security and operational transparency. With the platform collaborating with external teams, it is hoped that security measures can be strengthened to prevent similar incidents from occurring. This incident also emphasizes the urgency for crypto trading platforms to enhance their security protections.
Resolv Activation Protocol Fee Mechanism, Partial Profits Returned to RESOLV Stakers
The Resolv platform announced the activation of the protocol fee mechanism starting this month. According to the new measures, Resolv will begin to charge protocol fees, and a portion of the daily profits will be used for long-term value creation and returned to the stakers of the RESOLV token. The fee collection will gradually increase, starting at 2.5% in the first week and gradually rising to a fee of 10% from the fourth week onwards, and fees will only be charged when the platform achieves positive earnings. If the platform is not profitable, no fees will be incurred. The protocol revenue will primarily be used to drive the sustainable development of the Resolv ecosystem, including supporting new integrations in DeFi, fintech, and institutional sectors, funding ecosystem grants and product development, and promoting token alignment plans such as buybacks. Additionally, users will be able to track the usage of protocol revenue through a dedicated transparent dashboard.
The fee mechanism of the Resolv protocol aims to add value to the ecosystem by enhancing long-term value while directly returning a portion of profits to stakers. This not only enhances the incentive for stakers but also promotes further expansion of the platform in the DeFi and fintech sectors. The gradually increasing fee mechanism reflects the platform's robust strategy, ensuring both user engagement and sustainable system development. However, ensuring the reasonable use of fees and transparency will be a key concern for users. If the platform can effectively execute and demonstrate transparency, it will further strengthen its trust among users.
Anchorage Digital teams up with Ethena Labs to launch the first GENIUS compliant stablecoin USDtb
Anchorage Digital announced a strategic partnership with Ethena Labs to jointly launch the first stablecoin USDtb that complies with the GENIUS Act. As the only federally chartered crypto bank in the U.S., Anchorage Digital will issue USDtb domestically through its stablecoin issuance platform, aiming to provide institutional clients with a compliant and secure way to access digital dollars. This partnership is not only a significant breakthrough in the digital asset industry but also further advances the compliance process for stablecoins in the U.S.
This collaboration marks an important step forward in the compliance of stablecoins, especially under the push of the GENIUS Act, with the partnership between Anchorage Digital and Ethena Labs expected to set a new benchmark in the stablecoin market. For institutional clients, the launch of USDtb provides a regulatory-compliant stablecoin solution, further breaking down the barriers between crypto market compliance and the mainstream financial system. As the digital dollar gradually becomes more widespread, this initiative could bring new vitality to the global stablecoin market, particularly against the backdrop of traditional financial institutions transitioning to Web3, which will drive more capital into this space.
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Elympics is a multi-chain entertainment infrastructure designed to connect brands and IP with Web3, allowing millions to join the crypto market and enabling developers to easily build and deploy blockchain-based skill games that are distributed across popular super apps, social platforms, and wallets.
Reference Material:
[Gate Research Institute](https://www.gate.com/learn/category/research) is a comprehensive blockchain and cryptocurrency research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
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