Polygon broke a record in the number of daily active users. The size grows as Peckshield confirms that Gamma has suffered a staggering $3.4 million USD attack. Airdrop good news from Saga to TIA, MATIC, AVAX and ATOM community. Zakinov v. The hearing in the Ripple Labs (XRP Coin) case will take place later this month. And more!
Hot developments for MATIC, XRP Coin and these 8 altcoins…
Polygon reaches major network adoption milestone
Polygon recorded its highest number of daily active users for the first time since October 2023. Thus, it revealed a growing ecosystem. Polygon is currently in the spotlight after reaching an impressive network milestone today. According to an update shared on Today In Polygon by co-founder Sandeep Nailwal, the network’s Daily Active Addresses hit their highest level in October, averaging 500,000 users per day.
Polygon is the highest capitalized layer-2 protocol in terms of market cap. It uses this potential to a significant extent. Data from enterprise crypto insight provider Artemis revealed that as of January 3, the number of daily active users on Polygon PoS increased to 519,970, from a recorded low of 247,200 as of November 24, 2023. According to Artemis data, Polygon has not retested its current user count level since October 22, 2023, when the user count reached 543,290. Polygon also provided other promising data for a more holistic performance overview.
Gamma Protocol hacker is growing, the protocol is meeting with the attacker!
cryptokoin.comAs you follow from , Gamma, a liquidity management protocol on Ethereum, has been seriously attacked. This development sent shockwaves through the crypto community. Following a discovery made by Peckshield on January 4, a vulnerability was revealed in Gamma’s treasury. This was initially estimated to cause a loss of 211.9 ETH (approximately USD 469,000).
However, the situation quickly escalated as Peckshield confirmed that Gamma had suffered a staggering $3.4 million USD attack. The attackers quickly moved $2.2 million to Tornado Cash, a tool used to hide assets. Immediately after the attack, Gamma locked the deposit function. Thus, it restricted users from withdrawing their assets only. Remarkably, the protocol accessed the hacker’s wallet address to negotiate and induce the return of the stolen 3.4 million USD.
Right’Good news to TIA, MATIC, AVAX and ATOM community from
Saga, a leading blockchain platform, has announced a complex airdrop initiative. The platform aims to reward the loyalty and participation of its user base. This announcement marks a significant milestone in Saga’s mission to strengthen its community and celebrate their loyalty as the platform approaches its highly anticipated Main-net launch.
The journey towards this groundbreaking airdrop began in late Q3 2023. Saga kicks off the 2024 crypto airdrop season by announcing criteria for Saga Innovators, builders, and players. December saw the launch of Saga Advent, an engaging Play-to-Airdrop campaign covering daily tournaments and missions across a diverse selection of 10 different games over 25 days. There was great interest in the campaign, with more than 3,000 participants taking part in all events. As the curtains rise in 2024, Saga has announced eligibility criteria for its general community airdrop, a key component of the genesis airdrop, signaling a defining moment for the Saga ecosystem.
Saga’s commitment to recognizing and rewarding loyalty also extends to its closest technology partners, the Celestia (TIA), Polygon (MATIC), Avalanche (AVAX), and Cosmos (ATOM) community, showing its gratitude for their support in a challenging crypto environment. Select members of these communities will receive the genesis SAGA token airdrop. This will be a testament to their belief in Saga’s technology and mission.
Litecoin overtakes Bitcoin on BitPay
Litecoin hit an all-time high in BitPay transactions. Thus, it surpassed Bitcoin with a share of 38.25%. Litecoin has emerged as a pioneer in BitPay’s payment processing service. This figure reinforces Litecoin’s position as a preferred option for consumers. It also marks a major milestone for the cryptocurrency.
Ripple (XRP Coin) important court date approaching
Zakinov v. The hearing in the Ripple Labs case will take place later this month. Ripple Labs (XRP Coin), Zakinov and Ripple Labs Inc. is approaching an important turning point with the critical hearing in his case scheduled for January 11. This hearing will consider the class action’s request to approve the form and format of class notice.
Last year, Zakinov v. An important development occurred with the granting of class status to XRP investors in the securities lawsuit filed by Ripple Labs (XRP Coin). Judge Phyllis J. Hamilton certified that the class met the requirements for certification. Thus, it set the stage for the lawsuit that Ripple was selling XRP as an unregistered security. Ripple (XRP Coin) won a partial victory against the US SEC last year. In this context, the court did not qualify secondary XRP sales as investment contracts.
Binance will support Kava (KAVA) EVM integration
Crypto exchange Binance announced that it supports Kava (KAVA) Ethereum Virtual Machine (EVM) integration.
Radiant Capital continues its activities in Arbitrum
Multi-chain lending protocol Radiant Capital announced that the lending and borrowing market on Arbitrum has resumed normal operations following an extensive review by OpenZeppelin, independent Ethereum researchers, and white hat hackers. It is now possible for users to freely use all available lending markets. Local USDC will undergo additional review before listing in the next few days.
In addition, Radiant DAO will soon announce how the excess debt will be repaid. Additionally, Arbitrum will present a Snapshot proposal on how to fully revitalize the WETH market. In the first stage, it will set the liquidation reward as a minimum of 1bps. It will also provide users with a grace period to improve their health points. Within 24 hours, the liquidation reward will gradually return to normal levels.
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