The main thing on the cryptocurrency market.
The price of Bitcoin instantly rose above $62,500
On the night of August 8-9, the rate of the first cryptocurrency instantly rose to $62,510. This is evidenced by the data CoinMarketCap.
Then Bitcoin rolled back a little. At the time of writing, the asset is trading at $60,900. Over the past day, growth was 6.53%, but over the week, a decline was recorded (-5.03%).
Most cryptocurrencies with the largest capitalization also showed growth over the day. At the same time, ether rose in price by 10.7%.
Against the backdrop of rising prices for crypto assets, the volume of liquidations on futures contracts on the crypto market also increased. The figure exceeded $222 million per day, according to CoinGlass.
Solana developers secretly fixed a critical vulnerability in the network
On August 7-8, 2024, Solana developers secretly released a patch with the aim of eliminating a critical vulnerability in the network. This was announced by Laine, which is one of the blockchain validators.
According to the published data, several members of the Solana Foundation contacted the organization on August 7, 2024. Laine emphasized that it knew them, and therefore the message about the vulnerability did not raise suspicions.
It contained a hash and an identifier for the vulnerability. It also indicated the exact date and time of sending a patch for urgent deployment on network nodes, Laine added.
It was made available via the Anza repository on GitHub, according to the post. Within 24 hours, the instructions and patch had been distributed to most participants, with 66.6% of validators upgrading.
Later, when the figure reached 70%, the vulnerability was disclosed. After that, the Solana Foundation called on other validators to urgently upgrade their nodes to version 1.18.21.
When asked why the vulnerability was not disclosed immediately, Laine said that the patch actually provided a complete picture of the bug. This could have been the reason for the hacker attack.
Trump's Sons Deny Rumors of Official Restore The Republic Memecoin
On August 8, 2024, the Restore The Republic (RTR) token entered the market. Some of the supporters of US presidential candidate Donald Trump claimed that this was his official memcoin. However, the politician's sons denied the information.
Rumors that Eric and Donald Trump Jr. are associated with this project were fueled, in particular, by the head of the organization “Students For Trump” Ryan Fournier.
“I have been told by sources that Donald Jr. will be backing this token. That’s why I wrote ‘rumors.’ I don’t know much about cryptocurrencies and am not involved in any way,” Fournier said.
Soon after, Eric Trump commented on the situation.
“Friends! Beware of fake tokens. Trump’s only official crypto asset has not yet been announced. You will be among the first to hear about it,” he noted.
Donald Trump Jr. also explained his connection to the project. He said he knows the developers, but the RTR token is not the politician's official memecoin, which is why they had to clarify. The project, which he and his brother announced earlier, is in no way connected to the memecoin sector, he added.
Against this background, the asset price initially jumped from $0.007 to $0.02 as of the early morning of August 9. The daily trading volume was about $170 million.
However, after Donald Trump Jr.'s publication, the rate fell. Over the course of a day, the asset fell by 28.6%, according to CoinGecko. At the time of writing, it is trading at $0.008.
BitGo received a payment institution license in Singapore
On August 7, 2024, cryptocurrency custodian BitGo received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS). The company will now offer cryptocurrency custody and trading services.
“This milestone underscores our commitment to expansion in Asia and views Singapore as a leading financial hub. The license will enable BitGo to meet the growing demand for regulated digital asset services across the region,” the statement said.
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