Hodler’s Digest: DeFi Undergoes Stress Test, DoJ Concerned About Binance Run, Hong Kong’s Crypto Trading, July 30 – Aug. 5
Curve Finance’s dramatic exploit exposes DeFi, DoJ concerns of a run on Binance, and Hong Kong debuts retail crypto trading.
Ethereum
The Complete Account of the Curve-Vyper Exploit
Curve Finance pools were targeted by hackers in a reentrancy attack on July 30, sending shockwaves across the DeFi ecosystem. Cointelegraph compiled the week’s events.
DeFi Ecosystem Faces Curveball as CRV Exposure Risk Emerges: Finance Redefined
Most DeFi tokens traded in the red on weekly charts due to the chaos caused by the Curve Finance exploit.
Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), Solana (SOL), Polygon (MATIC), Litecoin (LTC), Polkadot (DOT): Price Analysis on August 4th
Bitcoin continues to range trade, and altcoin traders are starting to view BTC’s price consolidation as a positive sign for the rest of the crypto market.
Matter Labs’ developers face plagiarism allegations by Polygon Zero
Polygon Zero has accused Matter Labs of copying significant code from its Plonky2 library to zkSync, a rival Ethereum layer-2 scaling solution.
Emergency DAO Cuts Off Rewards for Pools Affected by Hacks
The Curve emergency DAO removed CRV rewards for alETH, msETH, pETH, crvCRVETH, Arbitrum Tricrypto and multiBTC pools.
DeFi’s Founder Rushes to Repay Loans as Curve Liquidation Risk Threatens Systemic Stability
A Curve Finance hack sparked a sharp sell-off, and while DeFi traders stepped in to support CRV, the possibility of a contagion-level event remains.
Report: Crypto Market Suffers Biggest Loss Since 2022, Dropping $486M in July
According to the report, nearly half of the month’s losses were caused by the Multichain exploit, which resulted in $231 million in losses alone.
Obscure Tokens Experience Soaring Surge in Base as Memecoin Craze Takes Over, Triggering Rug Pulls and FOMO
Memecoin traders have been buying up obscure tokens such as Bald and Based, which have each seen staggering price gains despite questionable utility.
7/29 Price Analysis: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polygon (MATIC), Litecoin (LTC), Polkadot (DOT)
Bitcoin’s price action remains lackluster, but select altcoins are showing signs of breaking out of their respective resistance levels.