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BYDFi Market Overview: UFD,HYPE and USUAL’s Growth, PENGU’s Stable US$1,800,000,000 Market Cap

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[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:

  1. 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.
  2. Yield: The users can benefit from the RWA investments of the protocol with yields on US Treasury bonds by staking USUAL.
  3. 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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Bitcoin’s $120K Rally in Jeopardy as Miners Flood Binance With $2B BTC

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Bitcoin’s recent attempt to reclaim the $120,000 mark is facing new headwinds after Binance witnessed one of the largest single-day miner deposit spikes in months.

According to a report by CryptoQuant analyst Amr Taha, on July 25, miners sent over 18,000 BTC, worth more than $2 billion, to the exchange. The move coincided with a $650 million USDC withdrawal event, raising concerns over short-term liquidity pressure despite an otherwise bullish market backdrop.

Miner Behavior Flips

The uptick in miner deposits marks a sharp shift from their previously cautious stance. As recently as June 29, CryptoQuant data showed miners were holding onto their reserves, despite declining revenues and a slight 3.5% drop in Bitcoin’s hashrate. Analysts attributed this “HODL” behavior to strong unrealized profits and expectations of further upside.

However, Bitcoin’s July rally toward $120,000, just a few grand shy of its July 14 all-time high, appears to have triggered profit-taking. Taha suggested that rising operational costs and mining difficulty may also be compelling miners to liquidate some holdings to manage expenses.

He stated that such large inflows to exchanges have historically preceded periods of consolidation, as selling pressure temporarily outweighs new demand:

“While long-term sentiment remains bullish, this sharp inflow and capital movement may precede a period of consolidation or a local correction.”

The expert also noted that Binance had recorded its largest USDC net outflow in more than two months, with $650 million exiting the platform on the same day as the BTC inflow. This stablecoin drain suggests that some traders could be shifting funds to cold storage or alternative venues, potentially reducing immediate buy-side liquidity on the exchange.

Meanwhile, Binance has taken steps to adapt to shifting liquidity conditions. It recently launched Discount Buy, a feature allowing users to purchase crypto at below-market rates, potentially incentivizing accumulation during dips.

Taha suggested in his analysis that the platform is once again “becoming a focal point for short-term supply and liquidity shifts.”

Market Outlook

At the time of this writing, BTC was trading at $117,981, down slightly by 0.7% over the past 24 hours and 0.6% over the past week, while holding an 8.8% monthly gain.

The asset remains within a tight seven-day range of $115,184 to $119,568, perhaps indicating market indecision near key resistance.

Despite the sell-off, Bitcoin’s long-term fundamentals remain strong. Miner reserves had been climbing since March, with addresses holding 100 to 1,000 BTC accumulating 65,000 BTC, their highest level since November 2024, per CryptoQuant.

For now, traders are waiting to see if the flagship cryptocurrency can hold support above $115,000. If it does, analysts expect another attempt at breaking $120,000, potentially setting the stage for a retest of the all-time high.

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GalaChain, Through Landmark Shrapnel Partnership, Secures Access to China’s Trusted Copyright Chain

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[PRESS RELEASE – San Francisco, USA / CA, July 30th, 2025]

600 M-Gamer On-Ramp: GalaChain Secures TCC Access, Expands Gala Utility, and Welcomes Shrapnel

Gala today announced GalaChain’s position as the first foreign blockchain to collaborate with China’s Trusted Copyright Chain (TCC), a breakthrough that gives roughly 600 million gamers a cross-border path to NFTs in the world’s largest gaming market. Development of the cross-border bridge starts immediately, with full public launch targeted in Q1 2026.

“We are delighted to announce that Shrapnel has signed a cooperation agreement with Gala Games, a globally leading blockchain platform focused on the gaming sector, to establish a strategic partnership. Together, they will jointly invest in developing a large-scale FPS game targeting over 600 million Chinese gamers. This signing formally marks the beginning of a collaboration between the Gala Games Blockchain Platform and the Trusted Copyright Chain. This initiative will bridge the two major digital ecosystems, providing trusted digital infrastructure and professional services for the authentication, distribution, trading, and protection of digital assets in the global gaming industry,” said Xuan Hongliang, Director, National Operation Center of the Trusted Copyright Chain (TCC).

Key Highlights

  • Regulatory first: The bridge will be compliant with Chinese laws and regulations, including registration of NFTs inside China, unlocking a compliant path to ≈ 600 million gamers.
  • Economic flywheel: Shrapnel assets moving between China and the rest of the world consume $GALA, with an on-chain dashboard to display usage.
  • Shrapnel may use up to 10 percent of China’s revenue for periodic $SHRAP repurchases on GalaChain to support ecosystem health, subject to market and regulatory conditions.
  • Scaling GalaChain: Shrapnel network fees are powered by $GALA, materially expanding GalaChain ecosystem activity.
  • Influencer alignment: Built-in invitation links (邀请链接) and invitation NFTs (邀请凭证) let Chinese content creators verify every wallet activation, badge claim, or play-test entry they facilitate. Each qualifying action consumes GALA, updates a public on-chain counter, and lets contributors pick up rewards.
  • Developer momentum: AAA extraction shooter Shrapnel is migrating its entire economy from Avalanche to GalaChain. By moving its economy to GalaChain, Shrapnel gains faster finality, gas-efficient infrastructure with instant China compliance.
  • Community participation: Community participation: A free commemorative Bridge Badge NFT will be dropped to all Gala wallets and Neon players, and a 72-hour public claim window welcomes newcomers. The badge guarantees first-wave Shrapnel play-test slots and becomes the first NFT mirrored on TCC.

Executive Quotes

Eric Schiermeyer, Founder & CEO, Gala Games

“We are honored to connect GalaChain to the Trusted Copyright Chain through our partnership with Shrapnel. Every cross‐chain transfer will consume GALA, reinforcing the network for players on both sides of the Pacific. Thanks to Shrapnel, we can now serve China’s vast gaming community through a platform built for performance and regulatory readiness.”

Ken Rossman, CEO, Neon Machine

Through our groundbreaking partnership with GalaChain and the China Trusted Copyright Chain, we’re empowering hundreds of millions of players in China and beyond with true ownership of their in-game assets. This collaboration unlocks player-driven economies that are regulated and compliant, ensuring seamless cross-market access. Shrapnel players around the world can now own, trade, and monetize their gear, creating a unified, transparent, and innovative gaming ecosystem without borders.” 

Resources & Press Kit: https://gogames.gala.com/uiGFM

About GalaChain

GalaChain is Gala’s high-throughput Layer 1, purpose-built for entertainment, gaming, and DeFi. Secured by a global node network with 1 $GALA gas fees, the chain powers Gala’s portfolio of AAA games, music drops, film premieres, DeFi apps, and other projects while offering developers turnkey APIs for wallets, royalties, and bridging, now including the new link to China’s Trusted Copyright Chain.

For more information, users can visit https://games.gala.com/ or follow Gala on X, Telegram, or Discord. 

About the Trusted Copyright Chain (TCC)

The Trusted Copyright Chain is China’s national blockchain for registering and trading licensed digital assets. Operated under the National Press and Publication Administration, TCC timestamps copyrights, enforces royalty splits, and settles transactions in renminbi, giving rights-holders a compliant pathway to reach China’s 600-million-player market with digital asset ownership.

About Neon Machine

Neon Machine is an independent game studio behind Shrapnel, the first moddable premium shooter. Powered by GalaChain, Shrapnel pairs blockbuster visuals with true, on‐chain ownership of player‐generated gear and maps—delivering an open, creator‐driven economy.

Source

iResearch “2024 China Gaming Market Report”

DISCLAIMER: The purchase or sale of any token or digital asset involves risk. The information in this press release is provided for informational purposes only, and we urge you to read this material carefully and ask us any follow-up questions that you may have before joining the GalaChain platform. You should also consult with your legal, accounting, or tax advisors regarding any applicable laws, rules, or regulations that might govern your purchase of the digital assets discussed in this press release or your participation in the GalaChain platform, and regarding the tax or other financial implications of any purchase or sale. By your purchase or sale of any digital assets or tokens offered by GalaChain, you agree to assume the risks of such participation, and GalaChain disclaims any liability thereof. Digital assets are unregulated in many jurisdictions and may be subject to price volatility. You should conduct your own due diligence. Nothing in this release constitutes financial advice or an offer to sell in any jurisdiction where such activity is prohibited.

Media Contact: Press@gala.com  

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XRP to Flip ETH? ETF News Sparks 2017 Flashbacks

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TL;DR

  • XRP/BTC breaks 7-year range, signaling potential shift toward historical runs last observed in 2017.
  • Ripple is close to settling with the SEC; ETF talks intensify as the market closely watches August developments.
  • Whale wallets buy 60M XRP in 24 hours, adding $180M in buying pressure across exchanges.
  • XRP trades at $3.10, which is close to its recent ATH; an analyst suggests a true breakout above $26.

XRP/BTC Breakout Ends 7 Years of Consolidation

XRP has broken out of a price range it held against Bitcoin for nearly seven years. According to crypto analyst Cas Abbé, XRP/BTC had been consolidating since 2018, with price movement largely sideways during that period. The pair has now moved above a long-term resistance level around 0.000035 BTC, a level that held for most of the consolidation phase.

Interestingly, this breakout is drawing comparisons to XRP’s 2017 performance, when the token surged to the number two spot by market cap. XRP/BTC is currently testing a zone last visited during that cycle, between 0.00019 and 0.00023 BTC.

The analyst even hinted that XRP’s potential rise could take it to the number 2 spot in terms of market cap, meaning that it could flip ETH.

Legal Developments and ETF Speculation Fuel Momentum

Ripple’s legal case with the US SEC has reached a new stage. The two parties agreed to reduce the originally proposed $125 million fine to $50 million. 

In addition, the injunction blocking Ripple from institutional XRP sales has been removed. A previous 60-day negotiation window ended in June, and a final extension is expected to close in August.

While some in the community expect a key update by August 15, legal analyst Bill Morgan clarified that the SEC has no formal deadline to drop its appeal by that date. Despite this, market participants continue to monitor legal progress closely, especially as talk of a spot XRP ETF gains attention.

An approved ETF could expand access to XRP and possibly trigger further capital inflows, similar to what was seen with Bitcoin and Ethereum ETFs earlier in the year.

Market Activity, Whale Buying, and Network Signals

XRP was trading at $3.10 at press time, with a 24-hour trading volume of $5.6 billion. The token has seen a minor decline in the past 24 hours and an 11% drop over the last week. Its market cap currently stands at $183.5 billion, ranking it as the third-largest crypto asset.

On-chain analyst Ali Martinez reported that large holders bought 60 million XRP in the past 24 hours, a total worth over $180 million. This follows a steady rise in whale accumulation, with large investors increasing exposure over the last month.

In addition to price action and volume, on-chain indicators are signaling a possible continuation. Analyst Captain Redbeard reported that XRP’s NVT ratio, used to measure network value versus transaction volume, has dropped to multi-month lows while the price has continued to climb. This pattern last appeared before a strong XRP rally, suggesting a potential breakout setup.

XRP NVT ratio
Source: X

Price Gaps and Criminal Case

Analyst Amonyx pointed out that XRP’s previous all-time high against Bitcoin would place its current USD value near $26.6. With XRP still priced at $3.10, the difference between current levels and historical peaks remains wide.

Separately, a criminal report involving XRP has emerged. Nancy Jones, the widow of country music artist George Jones, filed a report claiming $17 million worth of XRP was stolen. Her ex-boyfriend, Kirk West, was arrested at Nashville International Airport on July 24 in connection with the case.

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