Gate Research: Stripe Acquires Bridge for $1.1B in Largest Web3 Deal; Celestia to Unlock 175M TIA

Gate Research Weekly Review and Outlook: This week, BTC and ETH showed weakness, declining by 1.4% and 3.3% respectively. BTC maintained a narrow trading range, while ETH continued its downward trend. Cybersecurity concerns intensified as a suspected Chinese-speaking North Korean hacker group conducted a large-scale infiltration of crypto practitioners' TG/X accounts. In positive developments, the Vietnamese government unveiled its ‘National Blockchain Strategy,’ aiming to establish 20 prominent blockchain brands by 2025. Uniswap introduced a cross-chain bridging feature, enabling direct asset transfers across nine networks. However, Tapioca DAO fell victim to a hacker attack, resulting in losses of approximately $4.4 million. Looking ahead, Celestia is set to unlock 175 million TIA tokens on October 30, with an estimated market cap of $1.08 billion, representing 80.45% of the circulating supply.

Market Analysis: This week, BTC and ETH showed weak trends, falling 1.4% and 3.3% respectively. BTC fluctuated within a narrow range, while ETH continued in a downward channel. Three sectors - AI Meme, Dex Aggregator, and DePin - achieved significant increases, rising by approximately 39.5%, 18.6%, and 16.5%, respectively.

Weekly Spotlights: Uniswap launched a cross-chain bridging function, supporting direct transfer of assets across nine networks. Tapioca DAO encountered a major security vulnerability, with hackers stealing about $4.4 million in cryptocurrency, causing the TAP token price to plummet by over 95%.

Data Highlights: The U.S. Securities and Exchange Commission (SEC) approved the listing of multiple Bitcoin ETF options products on Cboe and NYSE American, including options for funds such as Fidelity, ARK, Grayscale, and Bitwise. Circle's global policy head, Dante Disparte, stated that the UK might introduce stablecoin legislation within a few months. Additionally, Federal Reserve Governor Waller expressed support for tokenization and stablecoins.

Market Opportunities: This week's noteworthy airdrop project is WuKong, the market's first Meme-style ‘Journey to the West’ themed NFT project. It will launch Solana's largest-scale airdrop in history, targeting Solana phone 1st and 2nd generation owners, active Raydium users, and holders of well-known Solana Memecoins and NFT Collections.

What to Watch Next Week: On October 25, Arbitrum will complete the proposal voting for blue-chip project token swaps, planning to exchange tokens with 3-7 projects, with a maximum of 500,000 ARB tokens per project. On October 26, Bank of England Governor Bailey will give a speech, and on October 31, ECB Executive Board member Panetta will deliver a speech.

Deep Dive into This Week's Review 👉🏻 Gate Research: Stripe Acquires Bridge for $1.1B in Largest Web3 Deal; Celestia to Unlock 175M TIA

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Gate Team
Oct 25th, 2024