Week in Review: Cardano and Solana Hit New Highs, OpenSea Volume Tops $1 Billion

Solana (SOL) and Cardano (ADA) hit all-time highs, NFT-marketplace OpenSea logged trading volume of $1 billion for August so far, the Poly Network hack, and the hacker threatened to delay full restitution, along with other events of the week.

Bitcoin hits new high above $48,500

On Monday the leading cryptocurrency traded near $48,000, but midweek the price fell to $44,200. After hitting a local bottom, quotes began to rise and by Friday, rose above $48,700, and on Saturday at one point exceeded $49,000.

As of writing, Bitcoin is trading near $48,700.

Over the past seven days, the price of digital gold rose 3%, according to CoinGecko. Among the top-10 by market cap, Solana (+70%), Polkadot (+19%) and Cardano (+18%) led the gains.

По данным сервиса Messari, из цифровых активов за последнюю неделю сильнее других подорожал токен блокчейн-платформы Avalanche. Цена AVAX выросла на 127%, а капитализация достигла $7,42 млрд.

The biggest drop was in NFT20’s governance token MUSE. Its price fell by almost 37%, and its market cap dropped to $15.9 million.

Рыночная капитализация криптовалютного рынка составила $2,14 трлн. Индекс доминирования биткоина снизился до 42,7%. 

Токен Solana подорожал на 70%, а цена Cardano обновила исторический максимум

16 августа цена нативного токена проекта Solana (SOL) reached an all-time high above $80. Thus SOL entered the top ten of the largest digital assets.

20 августа криптовалюта Cardano (ADA) rose by 18% and reached an all-time high above $2.50. Earlier, the project founder Charles Hoskinson stated that the date for launching smart contracts under the Alonzo upgrade would be disclosed soon.

As of writing SOL trades near $75, ADA above $2.50, according to CoinGecko. 

Объем торгов на NFT-маркетплейсе OpenSea в августе превысил $1 млрд

Since the start of August, trading volumes on the NFT marketplace OpenSea have exceeded $1 billion. According to The Block, the figure stood at $125.2 million in June and rose to $284.2 million in July.

Poly Network предложил $500 000 за выявление багов, а взломавший протокол хакер пригрозил отложить возврат средств

Developers of the DeFi protocol Poly Network proposed a bug bounty program for its core functions. The scheme provides for payments of up to $100 000 for each discovered bug, with a total fund of $500 000.

The project team has been actively corresponding with the hacker who breached the protocol. He refused to hand over the multi-sig wallet key this week, as Tether had not unlocked its address. The keys to the multi-sig wallet are controlled by both sides — the ERC20 tokens remaining to be returned are stored there.

Meanwhile, the developers yesterday sent the hacker 160 ETH as a reward for discovered vulnerabilities (the very $500 000 from which he refused to participate).

Белый хакер предотвратил потенциальную кражу $350 млн из DeFi-проекта SushiSwap

Parradigm partner and cybersecurity expert Sam San explained how he identified and helped fix a vulnerability in the SushiSwap DeFi project. The bug threatened losses of more than 109,000 ETH (~$350 million at the time), and a similar vulnerability in the past was exploited by a hacker to steal $371,000 from the Opyn protocol.

Биткоин-биржу Liquid взломали на $80 млн

The Japanese cryptocurrency exchange Liquid reported a breach of its hot wallets. The platform did not disclose the amounts withdrawn by the attacker but published the related addresses.

According to on-chain data, the addresses received 107.3 BTC, nearly 11 million XRP, about 9 million TRX. An Ethereum wallet received 14,957 ETH and ERC-20 tokens totaling $24.8 million, and the total value transferred to the addresses exceeded $80 million.

Гэри Генслер: децентрализация DeFi не дает иммунитета от надзора SEC

SEC Chairman Gary Gensler stated that DeFi projects may be regulated by authorities, regardless of their decentralization.

He called the term “decentralized finance” misleading, since active platforms are highly centralized in some aspects. In particular, he noted projects that incentivize participants with digital tokens or in similar ways.

Экс-чиновник SEC предупреждал Ripple о риске признания XRP ценной бумагой

Former SEC official William Hinman stated that he warned Ripple about the risk of XRP being deemed a security. He advised the company to stop selling tokens to comply with regulator requirements.

Lawmaker Jeremy Hogan studied Hinman’s testimony and highlighted two points. First, the witness discussed possible options for regulatory compliance with Ripple’s representatives after the Commission began its investigation into the company.

Second, he saw a contradiction in Hinman’s testimony when asked about the SEC’s policy on employees owning securities. They cannot buy assets related to regulator investigations. Moreover, any employee transaction with securities must be pre-approved.

A Ripple representative asked Hinman whether this rule applied to digital assets before 2018. The witness hesitated briefly, then replied “no”.

Эксперты увидели признаки перехода рынка криптовалют в FOMO-режим

Mining stockpiling, withdrawals from exchange wallets and rising net unrealized profits in the Bitcoin network amid its price rise point to the chances of a FOMO syndrome effect, analysts at Glassnode note in a new report.

Coinbase приобретет криптовалюту на $500 млн и откроет филиал в Японии

Coinbase will allocate $500 million to buy cryptocurrencies. Going forward the exchange will devote 10% of quarterly net income to investments in digital assets.

The company also announced its entry into the Japanese market in partnership with the Mitsubishi UFJ Financial Group.

Binance ввела обязательную верификацию пользователей

New users must undergo identity verification to access the exchange’s products and services, including deposits, trading and withdrawals.

Existing customers who have not completed the procedure will only be able to withdraw, close positions and cancel orders.

The exchange is tightening user verification requirements amid rising regulatory pressure. This week the Dutch Central Bank joined regulators stating that Binance does not hold a license to operate.

The company also hired former US Treasury investigative official Greg Monahan as an AML employee, and Binance.US’s chief financial officer Joshua Sroge became interim CEO of the US unit.

In addition, Binance received a lawsuit from a group of international traders who accused it of failing to provide access to its infrastructure during peak loads and losses of $20 million. Meanwhile, a UK court ordered the company to locate cryptocurrency stolen from Fetch.ai.

Дэвид Маркус заявил о готовности цифрового кошелька Novi к запуску

Facebook’s payments chief David Marcus stated that the Novi digital wallet is ready for launch. He noted that the company remains true to its initial promises and does not intend to launch the project without regulatory approval.

Earlier media reported that Novi Financial (formerly Calibra) is exploring partnerships with third-party stablecoin issuers and may abandon Diem.

Криптоторговля принесла Robinhood свыше 40% от всех доходов во втором квартале

The online broker Robinhood in April–June generated revenue of $565 million — up 8.2% from January–March. The share of trading digital assets in the figure rose from 17% ($88 million) to 41% ($233 million).

60% of Robinhood’s 22.5 million clients with non-zero balances in Q2 engaged in cryptocurrency trading. 62% of crypto-related revenue came from Dogecoin trading (34% in Jan–Mar).

Bitcoin Suisse и Worldline запустили решение для биткоин‑платежей в торговле

The Swiss crypto trading platform Bitcoin Suisse and the European payments company Worldline unveiled a multi-channel solution for crypto payments WL Crypto Payments.

According to the statement, the integrated service enables more than 85,000 Swiss merchants in Worldline’s network to accept Bitcoin and Ethereum as payment options via POS terminals and in e‑commerce.

Бутерин предложил отказаться от управления DeFi-проектами через голосование токенами

Vitalik Buterin proposed abandoning the governance model for DeFi projects via token voting. The Ethereum co‑founder highlighted two main accompanying problems:

• inequality and misaligned incentives among governance token holders;
• the possibility of direct attacks through various forms of vote buying.

He also noted other drawbacks and suggested possible solutions.

Buterin also stated that he is skeptical about the prospects of Facebook and Twitter projects integrating digital currencies.

Additionally, the Ethereum co‑founder joined the Dogecoin Foundation’s advisory board alongside Elon Musk’s longtime associate and head of his family office Jared Birchall, Dogecoin co‑creator Billy Markus, and developer Max Keller.

Путин поручил подготовить предложения по проверке сведений о владении криптовалютой

President Vladimir Putin approved the anti‑corruption plan for 2021–2024. In it he ordered to prepare proposals aimed at verifying data on cryptocurrency holdings by November 15 of this year. Responsible for execution are the ministries of Finance, Labour, Digital Development and the Bank of Russia.

Also on ForkLog:

• The creator of the Pepe the Frog meme obtained removal of an NFT project.
• Developers of the DeFi project Luna Yield stole $8 million from investors.
• The “King of Roms” launched the Gypsycoin token.
• PSV football club will receive sponsorship payments in Bitcoin.
• 10T Holdings and Akuna Capital entered Deribit’s capital.
• BitDAO launched the BIT governance token and raised $356 million in an auction.
• Tiger Global acquired 2.6 million Coinbase shares for $674 million and backed CertiK in a $24 million round.
• Peter Schiff regretted not buying the first cryptocurrency in 2011.
• Bitpanda raised $263 million at a $4.1 billion valuation.
• Dogecoin’s price rose almost 17% on statements by Mark Cuban and Elon Musk.
• Chinese commercial banks opened access to the digital yuan for customers.
• Bloomberg strategist called Ethereum a hurdle to Bitcoin reaching $100,000.

Что еще почитать и посмотреть

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