Just a little waterfall came shortly after $HAEDAL was just sent
种玉米
11h
Poor $CETUS , after being hacked and losing 60 million U two months ago, has once again topped the 24-hour earnings list of the ecological project $SUI . Although a full compensation of 60 million U was made, last time when Sui broke 4 U, the price exceeded 0.2, but now it can't even break 0.13. On the contrary, the token with average economics and earnings, $HAEDAL , is experiencing a fierce surge. This project isn't even the first in its main business of liquid staking on the Sui chain; its only advantage is a low market cap. However, as the staked tokens from the issuance period gradually unlock and with lending projects having sufficient borrowable tokens, those chasing high prices for Haedal should be cautious.
Poor $CETUS , after being hacked and losing 60 million U two months ago, has once again topped the 24-hour earnings list of the ecological project $SUI . Although a full compensation of 60 million U was made, last time when Sui broke 4 U, the price exceeded 0.2, but now it can't even break 0.13. On the contrary, the token with average economics and earnings, $HAEDAL , is experiencing a fierce surge. This project isn't even the first in its main business of liquid staking on the Sui chain; its only advantage is a low market cap. However, as the staked tokens from the issuance period gradually unlock and with lending projects having sufficient borrowable tokens, those chasing high prices for Haedal should be cautious.
Brother Feng's latest video features a person in the cryptocurrency world who lost 3 million, experienced family breakdowns, sold his sister's house, mortgaged his own house, and borrowed money from online loans and friends and family. Don't follow his example.
I saw that many orders shared by the eagle have made hundreds of thousands of U, and I thought he had already reached A9, but it turns out he is still half a step away. It seems that A9 is really difficult.
$HYPE I was still thinking today, will hype be listed on Binance? After all, in terms of trading volume, this is the DEX most likely to challenge Binance. I didn't expect Binance to list the contract. Although hype is good, I won't buy spot above 20. CEX still has incomparable advantages; most people are quite lazy and won't actively engage on-chain. Many people have no other web3 wallets besides the Binance wallet.
I have a simulated contract account that I have been using on-chain. In less than two months, I turned 200u into 700u. I don't open trades more than a few times a week, and each time I set take profit and stop loss. I only trade BTC, ETH, and SUI, and my profit and loss ratio is much better than on my Binance account. I plan to withdraw 700u from my Binance account and trade alongside the simulated account.
$CETUS A few months before the outbreak of this round of altcoin week, the two coins I strongly recommended were Hype and Cetus. Hype has risen from the previous lowest of 9 yuan to nearly 40 yuan. Cetus also tripled in just one month before the hacker incident. After Cetus happened, I learned that some big guys I followed on Twitter also held positions and formed pools. So I think my vision in choosing coins is pretty good. In fact, whether Cetus is really finished depends on the subsequent TVL and trading volume. If we can stabilize the big players and provide some compensation to Cetus retail investors, such as repurchase and destruction, and increase the xcetus dividend ratio, this project may still be able to develop with Sui.
The situation with $SUI is still small. Their willingness to initiate this proposal (to transfer assets from hackers' Sui wallets without signatures) indicates that they also lean towards this solution. Many KOLs in the Sui community actually disagree with this approach. If the proposal passes, the officials will say it was the community's choice; if it doesn't pass, the foundation may compensate alongside Cetus. Cetus cannot afford to compensate two billion dollars on its own; their worst-case scenario is to run away and stop operating. However, the Sui officials cannot bear the cost of not compensating users. With so many locked coins, will they still sell? Large investors and retail investors won’t be compensated and still expect them to stay on the Sui chain? Why can BTC and ETH be decentralized? BTC does not rely on issuing coins to make money, and the ETH ecosystem is already thriving. Any project that has issues and runs away does not affect it.
PANews
May 24
Sui: Supports Cetus's upgrade protocol but waives voting rights; Cetus must fully compensate users
PANews May 24 news, Sui tweeted that earlier today, Cetus called on the community to vote to upgrade the protocol to return frozen funds without rolling back on-chain history or reversing transactions. This is a special request to address specific needs (Cetus's client funds are in danger). After consideration, the Sui team decided to support the on-chain voting proposal, but with two conditions: Sui officials will remain neutral on the voting results and waive their official voting rights; Sui's responsibility is to design and execute a decision-making process that reflects the collective will of the Sui community (specific plans and code will be announced soon); Cetus is required to publicly commit to mobilizing all financial resources to recover funds until all client funds are fully returned.
Well said, not pulling the disk is just stinky dog poop. Scolding $SUI for being centralized is just that the hacker's fist didn't hit them. When their own money is stolen, they immediately become honest.
土豆谈币
May 23
In the cryptocurrency market, $sui has created miracles again, $cetus was stolen for 220 million, and as the main chain of the stolen DeFi protocol, it hasn't dropped in value. Is this the power of strong institutions? Then the Sui officials actively froze the hacker's assets worth 160 million, and the market criticized it for being centralized, having super permissions, and being a one-man show, as if everyone in the network wanted to step in.
I think Sui did nothing wrong in this regard. After all, the distinction between good and evil in hackers is very easy to identify. Since they have the ability to reduce losses, why pretend to be weak? Ultimately, it’s the retail investors who suffer for the sake of face. I don’t believe that pursuing absolute decentralization is necessarily good, although achieving this can indeed raise the ceiling of public chains.
Currently, only BTC and ETH can achieve this. Once hackers convert the stolen coins into these two, there are basically no technical means to freeze or recover them, but the cryptocurrency market is not just about these.
For Sui, a newly launched public chain, driving up prices and ensuring security are the priorities; all other ideals are empty. Even if it is decentralized in normal times, utilizing super permissions to correct mistakes in critical moments is an advantage of new public chains compared to older ones like Ethereum.
Just like a few months ago, $hype also chose to roll back to avoid a 200 million loss for the platform, and at that time, it was heavily criticized, but today $hype is still at an all-time high and has received praise from the market.
Sui and Hype are true good projects, while many seemingly principled public chains neither drive up prices nor resist theft, and they stubbornly cling on. Such projects are just worthless nonsense.
Many people do not understand the important position that $CETUS occupies in the ecosystem of $SUI , and still think that switching to another DEX is sufficient. Cetus accounts for over 40% of the trading volume on the Sui chain and over 60% of the liquidity. Due to issues with Cetus, lending and stablecoin projects have come to a halt due to a loss of liquidity, making it impossible to liquidate. Therefore, the Sui officials will definitely spend money to solve the problem. Currently, in addition to the 600,000 reconciliation statement, a bounty of 500,000 has also been released, and of course, all of this money comes from the officials. Although Cetus is the most profitable project on Sui, this amount is still too high for them. The Cetus project is supported by the officials, and this incident may bring lessons to public chain projects, as one DEX occupying too much liquidity poses a significant risk to the entire chain.
The majority of the funds expected to be stolen from $SUI will soon be reinjected into the liquidity pool. After liquidity is restored, it may trigger another sell-off. Those optimistic about the future of SUI can take this opportunity to buy. Recommended: Walrus, Deep, Navx, Blue
That's right, there are few retail players in this chain, and the TVL mainly relies on large holders for lending, staking, and liquidity mining.
加密鱼右右
May 22
The theft of Cetus has had a significant impact on the Sui chain; it's far more than just a problem with one DEX. Let me ask everyone involved in the Sui chain a question: why did you come to the Sui chain?
For financial management, right? Everyone came to the Sui chain not to get rich quick, but to earn a decent return over the year from mining and financial management, and to benefit from the subsidies of the Sui chain.
Now, with the principal at risk, who would want to participate? If this happened on the Sol chain, it wouldn't matter much; people are here to gamble on odds.
But that's not the case with the Sui chain.
The financial attribute of the Sui chain is to seek relatively stable mining returns, and these funds are very sensitive to security.
So this theft is truly a major test for the future of the Sui chain.
$SUI Originally I made a profit of 2,000 Wu yesterday, but because of the cetus hacker incident, I lost 7,000 Wu. I was so stupid that I cried. At the beginning of the decline, I thought it was the big investors who were taking profits, so I opened a long position. Later, I found that the decline was not right and I did not close the position in time. Then I found out that it was a hacker incident after a few minutes. At this time, I was still lucky and thought it might not be that serious. Later, I almost closed the position at the lowest point (Figure 1 is for entertainment only. There is no evidence that it was done by the general. Cetus has issued a statement that if the hacker returns the stolen assets, he can keep 600 Wu out of the 6,000 Wu that went out across the chain as a white hacker reward, and no responsibility will be pursued)
I really want to sell my xcetus $CETUS , but there are still more than two months until expiration, and I don't want it to occupy my margin for short hedging.
$SUI Today is really cursed, it was not easy for the funds to reach their peak today. Damn hackers, my over 40,000 staked xcetus are probably going to zero $CETUS
Welcome to Binance OTC! Reach out to us at trading@binance.com, via Telegram (@binanceOTCTrading), or visit https://www.binance.com/en/otc for more information.
Official Account of @Binance Angel Program. Join a selected group of international volunteers who are passionate about Binance, and help make the difference!