The World's Second-Largest Cryptocurrency Celebrated its 8th Birthday 

Ethereum, the world's second-largest cryptocurrency by market capitalization, celebrated its 8th anniversary on July 30, 2023. The Ethereum network was first announced by the Ethereum Foundation in 2015, with the vision of creating a censorship-proof 'world computer' that anyone could program. Today, Ethereum boasts a market cap of $225 billion and has over 1,900 monthly active developers.

Over the years, Ethereum has grown a lot and become very popular. It now has a total value of $400 billion, which is a huge amount. People using Ethereum have made a profit of $3.6 billion each year. They have also created 17.8 million blocks of digital assets, which shows how much it is being used. The currency used in Ethereum is called Ether, and it reached its highest value ever on November 10, 2021, when it was worth $4,878. But right now, its value is $1,869.

The #crypto2023 community celebrated a special event by sharing memories and reflecting on Ethereum's journey. Binance CEO Changpeng Zhao shared stories about how excited Vitalik Buterin, one of Ethereum's co-founders, was about the project in the beginning. Some people even joked by calling Ethereum their "favorite Bitcoin sidechain."

Ethereum has made a big impact on the crypto world. One of the main reasons is its smart contract feature, which allows people to create their own digital contracts. This was a huge deal during the initial coin offering craze in 2017 when many new cryptocurrencies were launched. Then, in 2020, there was a big growth in decentralized finance (DeFi) projects on Ethereum, which people called the "DeFi summer." These projects offered various financial services without relying on traditional banks or institutions.

On September 15, 2022, the #Ethereumnetwork  went through a major upgrade called "Merge." This upgrade changed the way Ethereum is maintained and secured. Before this, it used a method called "proof-of-work," which required a lot of energy. But after the upgrade, it switched to a new method called "proof-of-stake," which uses much less energy. This change is great for the environment and makes Ethereum even stronger in the world of cryptocurrencies. Now, people who help validate transactions (called validators) and investors can earn rewards for participating in the network. As Ethereum enters its ninth year, the crypto community is excited to see how it will keep growing and improving.

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#RichardTeng The Heco Bridge, which is used for moving funds between HTX's Heco Chain and the #Ethereumnetwork , has been compromised. The security breach has resulted in the theft of approximately $83.4 million worth of cryptocurrencies. Among the stolen assets were 42.11 million USDT, 10,145 Ethereum ($ETH ) valued at $20.42 million, 489 HBTC worth $15.63 million and a staggering 346.87 billion Shiba Inu ($SHIB ) tokens, equaling $2.75 million.Additional losses included 173,200 UNI ($932,000), 610,000 USDC, 42,399 LINK ($600,000) and 347,000 $TUSD . The attackers promptly exchanged all these assets for Ether. They have managed to amass a total of 41,434 ETH.Exploitation of Heco Bridge HTX advisor Justin Sun has confirmed that both HTX and the Heco Cross-Chain Bridge were subject to a hacker attack. In response to this incident, HTX has temporarily suspended deposits and withdrawals, assuring the community that all funds within HTX remain secure.Sun announced that HTX would fully compensate for losses incurred by the hot wallet.The investigation into the specific reasons behind this attack is underway, and services are expected to resume once the cause is identified and addressed.Vulnerability of crypto bridgesCryptocurrency bridges have become a focal point for security concerns within the digital asset industry. These bridges, designed to facilitate the transfer of assets between different blockchain networks, have repeatedly been targets of high-profile hacks.Last year, the Wormhole Bridge was drained of $320 million, while the Ronin Network breach resulted in a $625 million loss.#hodl #Blast #WLD

#sol Tether Treasury has added 1 billion #USDT. to its reserves in a move that prepares for future demandThe Tether Treasury has minted 1 billion USDT, according to the latest data from blockchain tracker and analytics system Whale Alert. The #transactions , which was recorded on the #Ethereumnetwork , has added a significant amount to Tether's circulating supply and is a part of Tether's strategy to manage liquidity in the cryptocurrency market.The reason behind the issuance Tether CEO Paolo Ardoino took to X to clarify the nature of the transaction. Ardoino stated that the minting is for "inventory replenish" on the Ethereum Network, emphasizing that it's an "authorized but not issued transaction." This means that the minted amount will be held as inventory to fulfill future issuance requests and facilitate chain #swap s as needed. Essentially, the newly minted USDT is not yet in circulation and will only be released into the market in response to future demand.A $91 billion cryptocurrency  During periods of bullish activity in the crypto markets, investors typically move large amounts of capital in and out of various cryptocurrencies. USDT offers a stable intermediary for traders looking to secure profits or enter new positions without exiting the crypto space entirely. It acts as a haven during the high volatility that often accompanies bull runs.Tether's market cap currently stands at a robust $91.2 billion, according to CoinMarketCap data.  The flagship cryptocurrency experienced a massive increase from $65 billion to the current figure. Other stablecoins do not come close to challenging USDT. USD Coin (USDC) ranks seventh with a market cap of $25 billion.🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. @WISE CRYPTO NEWS