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VIPBitget VIP Weekly Research InsightsOver the past year, the performance of ETH and its ecosystem has been underwhelming, with the ETH/BTC ratio down by 30% year-to-date. However, it's important to note that BTC has faced a monthly-level correction after hitting resistance at $100,000, while Solana's DEX volumes have seen a significant decline. These shifts suggest that capital is starting to flow back into the ETH ecosystem, with whales quietly accumulating assets over the past year. Several promising projects within the ETH ecosystem and on EVM chains are worth highlighting.
VIPBitget VIP Weekly Research InsightsAs the regulatory landscape for DeFi and cryptocurrencies in the United States becomes clearer, top-performing DeFi projects with strong profitability are poised to give their tokens genuine value. This could involve using a portion of their profits for token buybacks or directly distributing profits to token holders. If these proposals are implemented, the valuations of these DeFi projects could experience significant upward adjustments. Early market interest has already emerged, making these projects worth investors' attention.
- 02:32A dormant Bitcoin whale address awakens after nearly 12 years, containing 1,000 bitcoins.BlockBeats News, on September 17, according to OnchainLens monitoring, a whale wallet address that had been dormant for nearly 12 years transferred 1,000 bitcoin, worth approximately $115.95 million, with the funds dispersed to four new addresses. Address: 1NzHXRDizgEGaJZfBG46k66QXpRzDrtpZo
- 02:32Yala will destroy all illegally minted YU on September 23 and restore 1:1 redemption for USDC.BlockBeats News, on September 17, the stablecoin protocol Yala disclosed in its latest post-attack incident report that on September 13, hackers exploited the deployment of a temporary key to establish a fake cross-chain bridge, over-minting 30 million YU and cashing out approximately 7.64 million USDC (1,636 ETH). Part of the funds has already flowed into Tornado Cash. The incident did not involve Bitcoin reserves. The hacker has returned about 22.28 million YU. Yala announced that all illegally minted YU will be destroyed on September 23, the 1:1 redemption with USDC will be restored, and the liquidation compensation application process will be launched. At the same time, cross-chain security audits and multi-party control mechanisms will be strengthened.
- 02:28Hong Kong-listed company Qianxun Technology: Will acquire Web3 fintech company Punk Code for no more than HK$25 millionAccording to ChainCatcher, as announced by the Hong Kong Stock Exchange, Hong Kong-listed company Qianxun Technology has signed a non-legally binding memorandum of understanding for a potential acquisition, planning to acquire 100% equity of the Web3 fintech company Punk Code for no more than HKD 25 million. The founding team of Punk Code mainly comes from Tencent, and in 2020 participated in the establishment of Tencent Hong Kong Virtual Bank Fusion Bank, exploring scenarios such as blockchain finance and digital assets. The founder, Mr. Cai Yige, graduated from the Department of Computer Science at Nanjing University and joined Tencent in September 2004. He has served as Director of QQ Membership Business, Reading, Animation Business, and General Manager of Tencent Blockchain Business.