With the latest SUI network hack, investors are reconsidering their risk models as fear continues to spread regarding the use of Defi platforms. Meanwhile, Solana price is still grappling with resistance as new funds rush in rapidly into top ICOs.
With the DeFi market in cautious sentiment after the SUI network compromise, Mantix is the new Defi product set to adopt rigorous architecture and innovative thinking and the ongoing presale success demonstrates that the vision is backed by serious investors. Let us find out why investors think MTX is the next 100x gem.
Circle Mints $250M More USDC on Solana, Monthly Total Hits $1.5B
The latest $250 million worth of USDC was just minted on the Solana (SOL) blockchain by Circle, adding to the $1.5 billion of USDC it had issued this month. This highlights the fact that people are now seeking stablecoins on Solana and other fast and affordable networks.
A rise in USDC minting means stablecoins are adopted more quickly and Solana’s influence in the digital finance sector is expanding. Now that stablecoins are gaining popularity, Solana remains an excellent place for quick, big digital dollar trades.
As for Solana price forecasts, analysts say the Solana price could retest $140 before a bounce above $200 in August, particularly as more institutional money enters the layer-1 sector.
Sui network is hit as Cetus Hack leads to $223M being stolen
A massive hack on Cetus Protocol which is Sui’s biggest DEX and liquidity provider, cost $223 million and greatly affected trust in the Sui blockchain. Using fake tokens like BULLA, the attacker took advantage of errors in price curves and stole $54 million worth of SUI tokens.
Even though validators and the Sui Foundation froze $162 million, $61 million is still missing, so a $6 million bounty is being offered to anyone who helps catch the hacker.
Because of the incident, there are now concerns about Sui’s DeFi security and Cetus stopped smart contracts to avoid additional losses. Within hours after the Cetus hack, SUI’s price dropped to around $3.63. Currently though, SUI is still reeling, trading at $3.47 and down $8.4% over the past week.
The hack could change sentiment for a short time, yet Sui’s solid foundations and strong institutional support, including plans for a Canary Sui ETF, indicate that the $5.35 all-time peak may be reclaimed within one year.
Why Mantix Is Leading the DeFi Talk: Is It safer Than Solana and SUI?
Mantix is fast becoming known as a leading DeFi startup and ICO, thanks to its reliable, efficient and economical trading platform. Mantix is making sure to be more than just a DEX by featuring up to 1000x leverage, AI automated trading, rewards for independent staking and cross-chain liquidity.
At the moment, Mantix is in the first stage of its presale and each $MTX token is available for $0.02. Aside from the relatively low cost to entry, investors are interested in its main points: users can link their wallets easily, the project has no central authority and it shares rewards between users and investors for transparency.
The platform is unique and features automatic buybacks, ongoing token burns and a hybrid framework that can handle high inflationary pressure on the price of its native token.
Unlike Solana and SUI, Mantix was designed to give users a lot of control which makes it an interesting choice in these difficult times characterized by hacks.
Find Out About The Newest Online Trading Platform Below
Website: https://mantix.exchange
