Bitget Research Weekly News: Curve Stablecoin Pool Hacked, HashKey Approved as Hong Kong's First Retail Trading Platform

Author: Bitget Research Institute

1. Market Trends

The main focus of the market this week (07.31-08.04) is:

• Curve founder continues to sell CRV, HashKey approved to become Hong Kong's first retail trading platform

• Upcoming non-farm payroll data announcement, market correction to avoid risks

• Short-term market recovery, Grayscale and 6 other companies recently submitted applications for Ethereum futures ETFs

• Market performance weak, BASE chain's $BALD skyrocketed a thousand times overnight before crashing

• Curve's stolen TVL plummets, Base ecosystem's Bald surges a hundredfold in one day

2. Popular Projects

The hottest projects this week (07.31-08.04) are:

X (Token): A meme coin themed "X" on the Ethereum mainnet, trading volume surged in the past 24 hours, reaching $13M, with CEX trading volume at $5M and DEX trading volume at $8M. Yesterday, Bitget announced the listing of X, which rose +40% in the past 24 hours. Risk warning: Currently, there are many tokens on-chain with the symbol "X", so please check the token contract address and risks carefully when trading, or trade on CEX;

CRV (Token): Curve suffered heavy losses after the attack, and the token price has dropped for two consecutive days. Currently, the liquidation price of CRV positions on various lending platforms held by the Curve founder is between 0.38-0.4 USDT, posing significant potential risks to CRV and DeFi. The funding rate for CRV contracts on several mainstream CEX platforms has reached -0.4%, indicating strong short-selling enthusiasm;

ORDI (Token): The BRC-20 track currently lacks hotspots, while the number of Bitcoin addresses has reached a historical high of 47.9 million, with only 12,700 addresses holding $ORDI, accounting for 0.026% of Bitcoin holders. The track is in a developmental stage, with trading volume mainly concentrated on ORDI, which saw a total trading volume of $14 million in the past 24 hours;

Pandra (NFT): Conducting cross-chain Pandra series NFTs, allowing interaction with both zkBridge and LayerZero, with a task deadline of August 20. The airdrop community has driven up the Transactions of this NFT;

Uniswap (Dapp): Uniswap removed the HEX token from its interface earlier this week after the U.S. Securities and Exchange Commission (SEC) labeled HEX as an unregistered security. The HEX token is now listed in Uniswap's "unsupported" tokens, with a general note indicating that the protocol blocks tokens that "violate trademarks, have been proven to be scams, or are based on other legal considerations"; recent DEFI performance shows increased regulatory pressure;

Linea (Dapp): An Ethereum Layer 2 solution launched by ConsenSys. Currently, the Linea mainnet has crossed 19,719 ETH, with the number of unique users reaching 115,000. Two weeks ago, LayerZero launched the Linea mainnet, allowing applications to integrate with the new zkEVM rollup through LayerZero; today, the Uniswap community voted on a proposal to deploy V3 to the Linea network on-chain;

Optimism (Dapp): The Ethereum Attestation Service (EAS) stated on social media that EAS has been integrated into the OP Stack, and all future deployed OP Stack blockchains will automatically include EAS smart contracts in the genesis block phase, primarily reinforcing the adoption of the superchain. According to Dune data, Optimism's daily transaction count has surpassed Arbitrum.

3. Hot Searches

The hottest topics this week (07.31-08.04) are:

KAS (Token): Kaspa, a POW token that has broken previous highs, is currently the top choice for GPU miners and is quite popular in the mining community. The development team's technical expertise is strong, with the founder being a Harvard postdoctoral researcher and a core developer of GHOSTDAG, applying technology to the Kapas network to attempt to solve the blockchain trilemma. The project has good organic traffic and rarely engages in marketing, primarily spreading through word of mouth. The token has reached an all-time high, and Bitget has listed this token.

WLD (Token): Worldcoin, the Kenyan government suspended Worldcoin's related activities locally yesterday, expressing concerns about the collection of citizens' iris data and requiring a comprehensive investigation of the project. Worldcoin claimed yesterday that it would allow companies and governments to use its ID system. The project is well-known, and the token's performance was average yesterday; Bitget has listed this token.

CRV (Token): The Curve founder sold 54.5 million CRV through OTC and other means yesterday, obtaining 21.8 million USDT and partially repaying loans in protocols like FXS, alleviating market liquidation risks. Buyers of CRV tokens include individuals or institutions such as Sun Yuchen, Wintermute, DCF, DWF, Huang Licheng, Prisma Finance, and Cream Finance, breaking the monopoly of CRV liquid tokens, which may empower the Curve ecosystem in the future, representing a medium to long-term positive for Curve;

HEX (Token): According to The Block, the U.S. Securities and Exchange Commission (SEC) has sued Richard Schueler (also known as Richard Heart), accusing him of selling unregistered securities in violation of federal securities laws. Richard Heart is the founder of Pulsechain, PulseX, and the Hex project, and the SEC claims he misappropriated at least $12 million of client funds.

The Bitget Research Institute focuses on "focusing on on-chain data and mining valuable assets," providing institutional-level insights for crypto enthusiasts by continuously monitoring on-chain data and regional hot searches to uncover cutting-edge value investments. To date, it has provided Bitget global users with early valuable assets in several popular sectors such as the 【Arbitrum ecosystem】, 【AI ecosystem】, and 【SHIB ecosystem】, creating a better wealth effect for Bitget global users through data-driven in-depth research.