BTC temporarily dropped to $49000
On the night of August 5, Bitcoin experienced a significant drop, falling by 13%. For a short moment, its value dropped to $49000. Now, digital gold has stabilized a little and is trading at $60555.
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Following this drop, other leading cryptocurrencies from the top 10 found themselves in the "red zone". Ethereum suffered a 22% decline, falling below $2300, but is now trading at $2637. Solana temporarily fell to $120, which was a 39% decline, but has since rebounded to $151. BNB also suffered a significant drop to $430 (-29%), but has now recovered to $523.
Ethereum network activity declines
The Ethereum network is experiencing a period of relative calm. The number of transactions per day and the number of active addresses (DAU) have shown a noticeable decrease.
According to Etherscan, 1.1 million transactions were recorded on the network on August 5. For comparison, in January, at the peak of activity, this figure reached 1.96 million, and in July, at local maximums, it was 1.3 million. The number of active addresses has also dropped to February levels, amounting to 400000. This figure has been steadily declining since the end of June, when it peaked at 715000 addresses.
However, despite the "stagnation" in the main network, second-layer solutions continue to show high activity. According to Dune, L2 networks significantly outperform the main blockchain in terms of the number of daily transactions.
TON became available on Binance
The Binance cryptocurrency exchange, the world's largest by trading volume, made an announcement: on August 8, a new asset appeared on the platform - the TON cryptocurrency. This project received the Seed status, which indicates its initial stage of development and confirms its promising potential in the world of digital currencies.
Solana developers fixed a critical vulnerability in the network
Solana network developers, validators, and client teams have successfully patched a critical vulnerability through a carefully coordinated patch. The patching process began on August 7th, when the Solana Foundation initiated confidential discussions with the network's leading operators. This was necessary to ensure the security of the patch and prevent it from being exploited by attackers before its official release. Over the next 24 hours, all involved parties were required to confirm their readiness for the patch and strict confidentiality.
On August 8th at 14:00 UTC, operators received an additional notification from the Solana Foundation with instructions on how to download, verify, and apply the patch. The patch itself was posted to a GitHub repository by a well-known engineer on the Anza project.
Within a few hours, the patch had secured 66.6% of the network, ensuring its stability. The vulnerability was only disclosed publicly after 70% of operators had successfully deployed the patch, with a call for all others to immediately update.
Ripple tests a new stablecoin
Ripple has announced the launch of a closed beta test of its new stablecoin RLUSD, which will be available on both the XRP Ledger network and the Ethereum mainnet. According to the press release, RLUSD has not yet received regulatory approval and is not currently available for purchase or trading. Ripple representatives warn against scammers who may try to misrepresent the stablecoin as available for exchange.
RLUSD is backed by US dollar deposits, short-term Treasury bonds, and other liquid assets. In the interests of transparency, a third-party accounting firm will conduct reserve audits, and Ripple has committed to publishing monthly reports on the status of the stablecoin.
3000 ETH were sent from Buterin's address
On August 9, an address associated with Ethereum co-founder Vitalik Buterin known as vitalik.eth transferred 3,000 ETH, equivalent to approximately $7.9 million. The funds were sent to a multisig wallet, and the assets themselves were transferred from another address, Vb 3, affiliated with Buterin, on August 5.
Analysts speculate that this amount may be intended for charitable purposes. In October 2023, Buterin revealed that almost all transfers from his wallet were donations. At the time of writing, the vitalik.eth wallet holds approximately $525,000 in Ethereum.
