Bitget Research Weekly Highlights: Curve Stablecoin Pool Hacked, HashKey Approved as Hong Kong's First Retail-Facing Trading Platform
TechFlow Selected TechFlow Selected
Bitget Research Weekly Highlights: Curve Stablecoin Pool Hacked, HashKey Approved as Hong Kong's First Retail-Facing Trading Platform
Focusing on on-chain data, weekly news roundup.
Navigating Web3 tides with focused insightsOver the past week (7/31–8/4), several new trending cryptocurrencies and topics emerged in the market.
1. Market Trends
The most discussed topics in the market this week (07.31–08.04) were:
-
Curve’s founder continues selling CRV; HashKey approved as Hong Kong’s first retail-facing crypto exchange
-
Upcoming non-farm payroll data release tomorrow prompts market pullback to avoid risk
-
Short-term market recovery; Grayscale and five other firms recently filed applications for Ethereum futures ETFs
-
Weak market performance; BASE chain's $BALD surges 1000x overnight then crashes
-
TVL plummets after Curve hack; Base ecosystem’s Bald surges 100x in a day
2. Popular Projects
The hottest projects this week (07.31–08.04) include:
X (Token): An Ethereum-based meme coin themed around "X". Trading volume surged over the past 24 hours, reaching $13M in 24h volume—$5M on CEXs and $8M on DEXs. Bitget announced its listing of X yesterday, leading to a +40% increase in X’s price over the past 24 hours. Risk note: There are many tokens with the symbol “X” on-chain; users should verify contract addresses carefully or trade via CEXs.
CRV (Token): Following the recent attack on Curve, the protocol suffered heavy losses and CRV’s price dropped sharply for two consecutive days. The liquidation prices for CRV positions held by Curve’s founder across various lending platforms range between 0.38–0.4 USDT, posing significant potential risks to both CRV and DeFi. Funding rates for CRV perpetual contracts on multiple major CEXs have reached -0.4%, indicating strong bearish sentiment.
ORDI (Token): The BRC-20 sector currently lacks momentum. Bitcoin address count hit a record high of 47.9 million, yet only 12,700 addresses hold $ORDI—just 0.026% of all Bitcoin holders—indicating the sector is still developing. ORDI dominates trading activity within the space, with total network trading volume reaching $14 million over the past 24 hours.
Pandra (NFT): Cross-chain actions involving the Pandra NFT series allow interaction with both zkBridge and LayerZero. With the task deadline set for August 20, airdrop farmers have driven up transaction volumes for this NFT.
Uniswap (Dapp): After the U.S. Securities and Exchange Commission (SEC) labeled HEX as an unregistered security earlier this week, Uniswap removed the token from its interface. HEX now appears in Uniswap’s “unsupported tokens” list, accompanied by a general notice stating the protocol blocks tokens that violate trademarks, are proven scams, or raise legal concerns. This reflects increasing regulatory pressure on DeFi protocols recently.
Linea (Dapp): An Ethereum Layer 2 solution launched by ConsenSys. Linea’s mainnet currently holds 19,719 ETH with 115,000 unique users. Two weeks ago, LayerZero went live on Linea, enabling applications to integrate with the new zkEVM rollup via LayerZero. Today, the Uniswap community began on-chain voting on a proposal to deploy Uniswap V3 to the Linea network.
Optimism (Dapp): The Ethereum Attestation Service (EAS) announced integration into the OP Stack, meaning all future OP Stack-based blockchains will automatically include EAS smart contracts at genesis. This strengthens adoption across the Superchain. According to Dune analytics, Optimism’s daily transaction count has now surpassed Arbitrum’s.
3. Hot Searches
The most searched topics this week (07.31–08.04) include:
KAS (Token): Kaspa, a POW token that broke its previous all-time high, has become the top choice among GPU miners and is popular within mining communities. The founding team is technically strong—its founder is a Harvard postdoc and core developer of GHOSTDAG, whose technology powers the Kaspa network, aiming to solve blockchain’s trilemma. The project enjoys strong organic traffic with minimal marketing, relying largely on word-of-mouth. Its token has reached a new all-time high, and Bitget has listed the token.
WLD (Token): Worldcoin—Kenyan authorities suspended its local operations yesterday, citing concerns over the collection of citizens’ iris data and calling for a full investigation. Yesterday, Worldcoin stated it would allow companies and governments to use its ID system. Despite high name recognition, the token showed average performance. Bitget has listed the token.
CRV (Token): Yesterday, Curve’s founder sold 54.5 million CRV via OTC and other methods, receiving 21.8 million USDT, partially repaying loans taken from protocols like FXS. This eased market concerns about potential liquidations. Buyers included individuals and institutions such as Justin Sun, Wintermute, DCF, DWF, Bobby Lee, Prisma Finance, and Cream Finance. The sale breaks the concentration of circulating supply, potentially enabling future support from these stakeholders—an encouraging long-term development for Curve’s ecosystem.
HEX (Token): According to The Block, the U.S. Securities and Exchange Commission (SEC) has sued Richard Schueler (also known as Richard Heart), alleging he sold unregistered securities in violation of federal securities laws. Richard Heart is the founder of Pulsechain, PulseX, and HEX. The SEC claims he misappropriated at least $12 million of customer funds.
Bitget Research focuses on “tracking on-chain data to uncover valuable assets.” By continuously monitoring on-chain metrics and regional search trends, Bitget identifies early-stage investment opportunities, delivering institutional-grade insights to cryptocurrency enthusiasts. To date, it has provided Bitget’s global user base with early access to high-potential assets across trending sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem, creating superior wealth-building outcomes through data-driven research.
[Disclaimer] The market involves risk; investing carries risk. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions expressed herein are suitable for their particular circumstances. Investment decisions based on this information are made at the user’s own risk.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
