While most market participants were resting, the crypto industry continued to actively develop. Over the past 24 hours, we witnessed several significant events that could determine the market's direction for the coming weeks. From emergency security measures to institutional adoption — let's break down the most important news.
Cosmos Labs raises the alarm: incident in Cosmos EVM
Let me start with some alarming news. Cosmos Labs has officially notified validators of networks using the Cosmos EVM module of the need to immediately halt operations. The reason is an ongoing security incident affecting users. At this time, the company has not disclosed details of the vulnerability, the list of affected networks, or the scale of potential losses. A full report is promised after the investigation concludes. This is a serious signal for everyone using Cosmos-based solutions and a reminder that even the most developed ecosystems are not immune to such risks.
Standard Chartered becomes a pioneer in stablecoin distribution
On a positive note, news from Hong Kong stands out. Standard Chartered Bank has become the first to begin distributing the regulated stablecoin HKDAP, issued by Anchorpoint Financial. The token, pegged to the Hong Kong dollar, is now available to qualified institutional clients and bank partners. Moreover, in the fourth quarter, subscription and settlement services for tokenized money market funds are planned. In parallel, the bank is testing HKDAP for intra-group settlements and exploring cross-border payment scenarios. This is an important step toward legitimizing stablecoins within the traditional financial system.
Base takes stock tokenization to a new level
Coinbase's layer-2 network Base has launched tokenized Apple and NVIDIA shares under the B20 standard. Each token is backed by real securities on a 1:1 basis, held with regulated custodians. Qualified users will be able to hold these assets in non-custodial wallets and use them within the DeFi ecosystem. Asset management is handled through the regulated broker-custodian Alpaca, opening the door to on-chain trading, lending, and other financial operations involving tech giants' shares.
My analysis: The market is showing a steady upward trend. Bitcoin gained 4.65% in 24 hours, reaching $80,692, while Ethereum rose 2.47% to $2,508. Leaders in growth were Monero (+8.52%), Solana (+8.10%), and Cardano (+3.32%). In the top 100, Stacks stood out with a gain of 18.17%. Notably, spot Bitcoin ETFs attracted $337.56 million in a single day, confirming institutional interest. However, there were losses as well: liquidations over 24 hours totaled $646.93 million, with the main impact hitting short positions ($457.28 million), indicating strong bullish sentiment.
Expert opinion: The tokenization of real-world assets, especially shares of giants like Apple and NVIDIA, is not just hype but a fundamental shift. It blurs the lines between traditional finance and DeFi, creating new liquid markets. However, the Cosmos EVM incident reminds us that the speed of innovation often outpaces security. Investors should remain cautious and diversify risks, even when the market looks optimistic.