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While prices remain stable, the crypto market continues to be the center of attention. A few significant events did not have a major impact on the overall market. So, what happened in the world of cryptocurrencies as we enter the week when the Fed minutes will be released? Do these events have any future implications for the markets? Let’s take a look.
Zunami Protocol Hack
Blockchain security firm PeckShield reported a flash loan attack that affected Zumani’s Curve Pool, impacting both Zumani ETH (zETH) and Zumani USD (UZD). CertiK stated that the attacker was able to manipulate prices on the pairs where UZD balance was involved, and the profit was swapped for 1178 ETH, which was already sent to the crypto mixer Tornado Cash.
SEC Delays ARK 21Shares spot Bitcoin ETF Decision
The SEC announced the decision to delay the spot Bitcoin ETF application presented by ARK Invest, although the deadline was on August 13, the announcement of the rejection was made on Friday. SEC’s statement dated August 11 opened a 21-day comment period for the ARK 21Shares Bitcoin ETF, which was initially submitted in May. The securities regulator has until January 2024 to decide whether to approve or reject the spot Bitcoin ETF application.
Worldcoin Persists
Worldcoin is allowing reservations of WLD for unverified users. The crypto project Worldcoin, which scans biometric eye data, now enables unverified customers to reserve Worldcoin. This caused a drop in prices.
The World App now allows everyone to reserve WLD tokens before verifying their World ID. Users who want to scan their irises to create a biometric-based identity system are rewarded with WLD tokens.
Bitcoin Current Situation
The price of BTC reached $29,643 today, but it seems to continue to decline due to high CDD and stablecoin outflows from exchanges. If thousands of BTC are being moved between wallets and stablecoin outflows from exchanges are occurring, it usually signifies further downward pressure.
If the decline continues, sales could persist down to $28,800 and $28,300, followed by $27,500 and $25,000. This will not bode well for low-volume altcoins in support areas.
