Golden Web3.0 Daily | Ripple's settlement with the US SEC still has a turnaround

DeFi data

1. Total market value of DeFi tokens: US$118.424 billion

DeFi total market value data source: coingecko

2. The trading volume of decentralized exchanges in the past 24 hours was US$7.462 billion

Source of transaction volume data from decentralized exchanges in the past 24 hours: coingecko

3. Locked assets in DeFi: US$115.87 billion

DeFi project locked assets ranking and locked positions data source: defilama

NFT data

1.NFT total market value: US$22.558 billion

The top ten NFT projects ranked in total market value and market value data source: Coinmarketcap

2.24-hour NFT trading volume: US$ 2.7 billion

The top ten NFT projects ranked in total market value and market value data source: Coinmarketcap

Top NFTs within 3.24 hours

NFTs with the top ten sales gains within 24 hours Source: NFTGO

Headlines

Ripple 's settlement with the US SEC still has a turnaround, and Ripple's chief legal officer says it will rediscuss litigation with the court

Golden Finance reported that in response to the US New York Southern District Court rejecting the settlement motion between Ripple and the US SEC on the grounds of improper procedural misconduct, Ripple Chief Legal Officer Stuart Alderoty said that the final victory of Ripple (i.e. XRP does not belong to securities, etc.), Ripple and the US SEC fully agree to resolve the case and will jointly discuss the litigation issue with the court. According to crypto journalist Eleanor Terrett, there is still a turning point in the case. Although Judge Analisa Torres rejected the settlement motion, there is still a chance of settlement as long as Ripple and the US SEC can meet the legal standards and provide compelling reasons to prove that it is in the best interests of the public and XRP agency buyers.

MEME hot spots

1.WLFi spent $6 million to buy Vaulta (formerly EOS) tokens

According to Lookonchain monitoring, the World Liberty project supported by Trump purchased 3.64 million EOS for USDT through PancakeSwap on BSC today, and 3.75 million USDT for USDT through 1DEX on the exSat network. EOS has now been renamed Vaulta (codename $A).

DeFi hotspots

1.THORChain will be upgraded to v3.6.0 on May 23

According to reports on May 16, THORChain plans to upgrade the main network to version 3.6.0 at block height 21,210,000 (an estimated at 1 a.m. Beijing time on May 23). This upgrade is a small maintenance update, mainly involving updates to Rujira contract checksums and does not include critical fixes or consensus changes. Block time may fluctuate, and the specific time may be adjusted for several hours. Previous news, Binance will support THORChain (RUNE) network upgrades and hard forks.

2. Trump 's family crypto project WLFI has purchased 12 tokens so far, with a total value of $291 million

Golden Finance reported that according to the on-chain analyst Ember Monitoring, WLFI, a DeFi project supported by the Trump family, has spent a total of USDT configurations to purchase 12 tokens: ETH/WBTC/TRX/LINK/AAVE/ENA/MOVE/ONDO/SEI/AVAX/MNT/EOS. The current total value of these tokens is US$291 million, with an overall floating loss of US$53.07 million (-15%).

3.Starknet enters the "Stage 1" decentralization stage

According to Golden Finance, Ethereum ZK-Rollup expansion plan Starknet announced that it has entered the "Stage 1" decentralization stage. According to the framework proposed by Vitalik Buterin in 2022, this phase means that the network has established a security committee and a validity proof system, significantly reducing external intervention. Starknet added that the framework is “the gold standard on-chain tool for analyzing Ethereum extension solutions” and said that this phase has been achieved through changes such as the creation of security committees and avoiding censorship mechanisms. StarkWare CEO Eli Ben-Sasson said the next step will be to advance the goal of "Stage 2" to achieve complete community autonomy in the network. According to L2beat, only three small Layer2 projects have reached this stage.

4. Abstract may launch an official cross-chain bridge

According to the preview image released by Abstract Chain developer @0xCygaar, Abstract may launch an official cross-chain bridge.

5.Pharos Network releases public test network

On May 16, the new generation of Layer1 public chain Pharos Network, which focuses on the real world Assets (RWA) track, announced that its public test network has officially launched (Testnet). PharosNetwork focuses on institutional-level RWA application scenarios and enterprise-level decentralized financial needs, and is committed to solving the pain points and difficulties of traditional institutions entering Web3 by building leading modular infrastructure, building an efficient and low-cost payment network, and promoting the large-scale deployment of decentralized applications and the expansion of tokenized asset scenarios.

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