The cryptocurrency market witnessed both positive and negative developments this week. In Lido DAO, security vulnerabilities have raised concerns. However, this situation was tried to be balanced with investments and network updates. Meanwhile, EDU coin rose by receiving investment from Animoca Brands.
Lido DAO returns after security incident
Decentralized finance (DeFi) protocol Lido DAO (LDO) faced a security threat after unauthorized access was detected on a developer machine used by Numic, one of the Node Operators. However, quick action by Lido DAO and Numic prevented any loss of funds or outages in validators. The community’s transparent handling of the situation seems to have increased investor confidence. The LDO token price increased by 34% in 24 hours, reaching $2. This price increase reflects investor confidence in Lido DAO’s ability to effectively manage such situations.
Binance supports Aevo, SEI updates
cryptokoin.com As we reported, Binance Labs, the venture capital arm of Binance, the world’s largest cryptocurrency exchange, announced that it has invested in Aevo, a high-performance layer 2 decentralized exchange (DEX). Since we announced this news, it has caused the price of Aevo’s token (AEVO) to skyrocket 10% in 24 hours, reaching $0.897. Trading volume also increased by 150%, indicating increased investor interest. Aevo aims to attract users with its unique features and scalability by offering continuous trading, pre-launch futures and options.
Sui Network, known for its high transaction speeds, aims to become the fastest Blockchain by launching the Mysticeti update on its testnet. This update delivers an impressive 80% consensus latency reduction, giving users lightning-fast operations across all applications. The development team published a research paper detailing the update, highlighting its benefits not only for users but also for validators and developers with lower latency. The Sui token (SUI) price reacted positively, increasing by 1.43% in 24 hours, and a significant 26.69% increase was observed last week. This upward trend is likely to continue as the network attracts more users with its improved performance.
There is investment for EDU coin
Hong Kong-based gaming software and venture capital firm Animoca Brands has announced its plan to purchase additional EDU tokens on the open market. EDU is the governance and utility token used by Open Campus, the world’s first Web3 education protocol backed by leading investors such as Binance Labs and Sequoia China. Animoca Brands’ strong support for Open Campus and the upcoming EDU layer 3 Blockchain project specifically designed to serve the global education industry estimated to be worth $8 trillion by 2030 has led to a surge in the EDU token price. EDU coin is trading with a 30 percent increase at the time of writing.
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