Cryptocurrency
BYDFi Market Overview: UFD,HYPE and USUAL’s Growth, PENGU’s Stable US$1,800,000,000 Market Cap
[PRESS RELEASE – Mahe, Seychelles, December 24th, 2024]
On December 24, 2024, the BYDFi crypto exchange officially launched new tokens, including PENGU, HYPE, UFD, and USUAL. These are different Memecoins and DeFi tokens, enriching the categories of assets on the platform and giving global users more investment opportunities.
UFD’s Surge, PENGU on Hot List with $1.8B Market Cap
UFD, or Unicorn Fart Dust, is a meme coin in the Solana ecosystem that has been growing with the tag of a “social experiment.” A 54-year-old gold and silver trader was inspired to create his own meme token, UFD, based on Fartcoin, which had a market cap of $500 million. The creation of UFD symbolizes the innovative trend of the cryptocurrency market as well as the openness of the industry towards investors cutting across all age groups.
From GMGN data, on December 19th, UFD market cap has already passed $230 million , the 24-hour price increase was at 434%, and a 24-hour trading volume of $145.4 million.
According to Onchain Lens, one address that bought UFD early on changed $700 into $1.8 million in less than 7 hours. According to Lookonchain, a trader bought 12.98 million UFD tokens for 0.4 SOL two days ago. During the price spike, the trader sold over 80,000 UFD tokens twice, netting $4,500 while holding 12.9 million tokens in their account.
PENGU is the official token created by the Pudgy Penguins project, which contains 8,888 unique cartoon penguin NFTs. Each NFT generates randomly assigned qualities through the use of up to 150 hand-drawn components. These penguins have up to five different features, such as distinctive backgrounds, body shapes, clothes, and accessories.
PENGU is launched on the Solana blockchain in December 2024 with a total of 88,888,888,888 tokens. The overall market cap has crossed $1.88 billion, and the 24-hour trading volume is $360 million, with 62.86 billion tokens in circulation. The project intends to propel Web3 innovation through the Abstract public blockchain and developer incubator, and it has the support of the robust NFT community of Pudgy Penguins. Abstract recently raised $11 million, majorly coming from Peter Thiel’s Founders Fund, and hence offers a lot of support towards developing the PENGU ecosystem.
On-Chain Speed and Stable Ecosystem: Dual Innovations of HYPE and USUAL
HYPE is the native token of the decentralized derivatives protocol Hyperliquid and is the core asset of the high-performance L1 platform. With a latency of less than one second and complete transparency in its order book, trading, and settlement, Hyperliquid focuses on totally on-chain operations. The Hyperliquid platform is a rising leader in the DeFi industry, with a total asset value of $2.173 billion, according to DefiLlama data.
HYPE’s price has increased in 1345% since it was launched from $2 to $28.91. The 24-hour trade volume for HYPE has now surpassed $15 billion, according to data by @HyperliquidX, which marks a new record.
USUAL is the native governance token of the Usual protocol. It aims to create a secure and efficient stablecoin ecosystem backed by real-world assets, or RWA. Among its core functions are:
- Governance: Transparency in decentralized governance and community leadership is ensured by allowing holders to take part in crucial protocol decisions like earnings distribution and collateral management.
- Yield: The users can benefit from the RWA investments of the protocol with yields on US Treasury bonds by staking USUAL.
- Stablecoin Ecosystem: supports the main products of the protocol, being USD0, a stablecoin, which RWA supports and USD0++, a variant of liquid staking, and holders can share revenue via management or staking.
It also ties the issuance of USUAL tokens to total value locked, where increases in TVL reduce the token supply, thus constituting a deflationary mechanism that can boost long-term value. As of December 18, USD0 minting was seen reaching a record-breaking 190 million units with the total supply rising beyond 1 billion units netting 136 million units. It can be established that the high level of capital attraction of the Usual procedure is by reaching the Treasury revenue of $5.89 million. The increase of USD0 and USD0++ will enhance TVL by raising USUAL’s scarcity and value appreciation. At the moment of writing, the token’s price is $1.39, up 34.2% over the previous day. At $838,695,117, the trade volume is more than it has been in the past.
Meanwhile, BYDFi has simultaneously launched additional tokens, including FUEL, VANA, SEND, and ARCSOL. Users can visit the BYDFi official website or the BYDFi app to stay updated on the latest market trends and detailed information about these tokens.
About BYDFi
Founded in 2020, BYDFi is considered among the top 10 best crypto exchanges around the world according to Forbes, and trusted by millions of users all over the world. It currently supports more than 600 tokens for spot trading, with options for leverage from 1x to 200x to suit every investment strategy. Besides, BYDFi has also simplified the procedure of buying cryptocurrencies by working with world-class payment service providers like Banxa, Transak,and Mercuryo, enabling its users to purchase coins at a low cost.
In the future, the upcoming “BYDFi Copy Trading” feature will automatically suggest the top traders according to the user’s risk tolerance and account assets. Users can easily activate the copy trading mode using only a tap and replicate professional traders’ strategies. BYDFi aims to provide a world-class crypto trading experience for its users.
Contact BYDFi
For inquiries and support, users can reach them via the following:
Twitter( X ) | LinkedIn | Facebook | Telegram | YouTube
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Cryptocurrency
Crypto Markets Recover $100 Billion on Christmas Day as Bitcoin Taps $98K (Market Watch)
After a few days of corrections and sideways action, bitcoin finally went on the offensive on Christmas Eve by skyrocketing briefly to just over $99,000.
The altcoins are also in the green, with notable increases from the likes of SOL, DOGE, AVAX, and TON.
BTC Back to $98K
Bitcoin went through a highly turbulent and painful trading week that started last Wednesday after the last FOMC meeting for the year. Despite the Fed’s rate cut of 25 basis points, BTC headed south and lost $16,000 within days, going from over $108,000 on Tuesday to $92,000 on Friday.
It bounced off during the weekend and even spiked above $99,000, but that was short-lived. BTC started to retrace almost immediately and dumped toward $92,000 once again on Monday.
It managed to sustain that level and recovered to around $94,000 on Tuesday, and then came the Santa Claus rally, which pushed it north hard. In a matter of a few hours, bitcoin’s price jumped from $94,000 to just over $99,000. Although it has lost some traction since then, BTC is still above $98,000 after a 4% daily increase.
Its market capitalization has shot up to $1.940 trillion on CG, and its dominance over the altcoins is back above 54%.
AVAX Up 5%
Most altcoins are slightly in the green today as well. Ethereum has neared $3,500 after a 2% increase, while XRP is up to $2.3 after jumping by a similar percentage. BNB, ADA, TRX, and LINK have posted identical increases.
Solana, Dogeocin, and Toncoin have jumped by around 2-4%, while AVAX has added nearly 5% of value and now sits above $40.
The biggest daily gains from the largest 100 alts come from MOVE (26%), BGB (16%), PENGU (13%), JASMY (13%), and VET (10%).
The cumulative market cap of all crypto assets has added over $100 billion since yesterday and is close to $3.6 trillion on CG.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
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Cryptocurrency
Credefi: From a Stellar 2024 to a Game-Changing 2025
Credefi is heading into 2025 with ambitious plans to revolutionize decentralized finance (DeFi). After a groundbreaking 2024, the company has laid a strong foundation for the innovations to come. Here’s a closer look at their accomplishments over the past year and their vision for the year ahead.
2024: Laying the Groundwork for Innovation
In 2024, Credefi made significant advancements in technology and strengthened its connection with the community. The year kicked off with efforts to improve platform stability as well as user experience in a bid to ensure the system was prepared to handle its expanding user base. By spring, Credefi reached a key milestone with the $CREDI token being listed on Gate.io which offered users greater opportunities to trade and invest while boosting liquidity and drawing new participants to the ecosystem.
During the summer, Credefi formed strategic partnerships and made significant technological strides. The foundation was laid for the integration of NFT Bonds and Default Swaps with Creditcoin’s EVM chain which paved the way for a closer relationship between traditional finance and blockchain.
Although these features won’t be launched until 2025, the groundwork for a smooth transition has already been set. In the autumn, Credefi showcased its commitment to real-world applications by beta-testing digital IBANs. The service, designed to streamline the movement of funds between fiat and crypto, is currently being tested by the community. It is expected to be fully launched in early 2025.
Credefi ended the year with a major announcement about the upcoming CREDI/RLUSD pair launch on the XRP Ledger. This move leverages XRPL’s high efficiency and low cost to enhance interoperability and liquidity within the ecosystem.
To cap off 2024, Credefi also introduced a sleek new website, which highlighted its real-world impact, including over $5 million in active loans and a strong 12% fixed interest rate. The roll out of community-driven initiatives like the CREDI Whales Club reflected the company’s ongoing dedication to user involvement and sustainable long-term growth.
2025: A Visionary Roadmap
Credefi is poised for a transformative 2025 approach. A key component of this evolution is a complete overhaul of the hybrid fintech platform. The new dApp will eliminate traditional barriers such as KYC requirements, offering permissionless access and ensuring inclusivity for users worldwide.
The redesigned platform will feature an intuitive interface and scalable design which will make it easy for both experienced DeFi users and beginners to navigate and enjoy a seamless, accessible experience.
Staking will become a central focus for Credefi in 2025, with the platform rolling out options designed to meet the needs of a diverse user base. Retail staking pools will provide attractive rewards for smaller $CREDI holders, while exclusive whale pools will offer high APYs and early access to new features. Additionally, collaborative farming will introduce a new dimension that will allow users to stake $CREDI and earn partner tokens.
Meanwhile, Credefi’s Peer-to-Peer lending will undergo a complete transformation to offer borrowers unparalleled flexibility. They will be able to customize loan terms, choose from various collateral options, and engage in trustless, permissionless transactions, ensuring a more inclusive and adaptable lending experience.
TradFi and DeFi: A Seamless Bridge
One of Credefi’s most impactful initiatives for 2025 is its focus on further expanding the merging of traditional finance with decentralized systems. The rollout of digital IBANs will simplify fiat-to-crypto transitions and provide users with secure SEPA transfers and intuitive on/off ramps.
This feature, now in beta testing, is expected to redefine financial accessibility and utility upon full release. The integration of the CREDI/RLUSD pair on XRPL will play a crucial role in expanding Credefi’s ecosystem. By tapping into XRPL’s high-speed, low-cost blockchain, Credefi guarantees greater interoperability and liquidity while opening new doors for its users to interact with decentralized financial products.
Tokenized Bonds and Asset-Backed Instruments
As part of its strategic roadmap for 2025, Credefi is focusing on the tokenization of real-world assets. The introduction of NFT Bonds will offer users secure, flexible, and tradable investments tied to real-world assets, thereby combining the trustworthiness of traditional finance with the revolutionary potential of blockchain. In addition to this, Credefi will offer asset-backed debt instruments, which will package loans from individuals and small-to-medium enterprises (SMEs) into diversified investment portfolios. This will open up new trading and investment opportunities.
Exploring New Frontiers
Looking ahead, Credefi is exploring the creation of a Real-World Asset Launchpad, a platform that would facilitate decentralized fundraising for projects while offering $CREDI holders exclusive early access to new opportunities. Though still in the planning stages, this development demonstrates Credefi’s focus on empowering its community and further driving the growth of its ecosystem.
The Year Ahead
With 2025 on the horizon, Credefi is ready to change the game in decentralized lending. The achievements of 2024 have set the stage for this transformation, proving that continued innovation and a strong commitment can unlock limitless opportunities.
Featuring permissionless access, next-gen staking, enhanced P2P lending, and the groundbreaking integration of XRPL, Credefi is leading the charge in the evolution of finance. Be a part of Credefi’s revolutionary journey. With an ambitious vision and a strong commitment to its community, 2025 will be a year where decentralized finance shatters expectations and creates endless opportunities for all.
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Cryptocurrency
ZachXBT Exposes $500K Scheme Targeting Solana Meme Coin Investors on X
Blockchain investigator ZachXBT has exposed a sophisticated phishing operation that has managed to compromise over 15 X accounts.
The scheme targeted investors in Solana-based meme coins and has resulted in an estimated loss of $500,000.
Solana Meme Coin Fraud
The Blockchain detective revealed in a December 24 social media post that the operation involved impersonating the X team and leveraging phishing websites to gain unauthorized access to high-profile accounts.
The attackers used fake copyright infringement notices to create a sense of urgency, tricking account holders into visiting phishing websites. These sites prompted users to reset their two-factor authentication (2FA) or passwords.
Once credentials were obtained, the hackers used the compromised accounts to push scams targeting meme coin enthusiasts.
Each compromised account shared a specific contract address tied to fraudulent Solana tokens, urging followers to invest using SOL. Posts often featured the caption “Incoming Transmission,” followed by a token announcement and contract details.
The cybercriminals also attempted to obscure their operations by bridging stolen funds between the Solana and Ethereum networks. However, ZachXBT’s investigation uncovered that all the hacked accounts were linked through six deployer addresses used for the scams.
The scheme exploited the trust and large audiences of crypto-focused accounts, many of which had over 200,000 followers. Prominent ones affected included Kick, Cursor, The Arena, Brett, and Alex Blania, with the first reported incident occurring on November 26 involving RuneMine, while the most recent was Kick on December 24.
Growing Threats to Social Media Platforms
This attack is not an isolated incident but part of a broader social media platform exploitation trend by threat actors. X, a hub for crypto projects and creators, has increasingly been targeted for its prominence within the community.
In a similar investigation in November, ZachXBT exposed several account takeovers on X and Instagram, which fueled pump-and-dump schemes tied to meme coins. Victims reportedly lost over $3.5 million during this spree, which began in August 2024.
The pattern of these attacks remains consistent: accounts are breached, fraudulent tokens are promoted, and the proceeds are funneled into anonymous wallets.
Notable examples include the hacking of Symbiotic’s X account in October, where phishing links disguised as airdrop checklists led to tokens being stolen. EigenLayer’s account was hijacked that month to promote a fake airdrop campaign. Truth Terminal AI founder Andy Ayrey’s account was also used to promote fraudulent meme coins, netting the hacker $1.5 million.
Following the latest incident, the on-chain sleuth has advised users to increase their account security by limiting the reuse of email addresses across services and using security keys for 2FA whenever possible.
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