On Wednesday, crypto markets maintained their stability despite an exploit by the Harmony blockchain network. The attack saw the minting of 4 billion ONE tokens through empty blocks, representing approximately 26% of ONE’s circulating supply. This led to a sharp decline in the token’s price, dropping as much as 40%, reaching a record low.
Meanwhile, broader markets remained quiet ahead of key U.S. inflation data releases. Open interest in DOGE futures grew to 17.2 billion tokens, marking the highest level since October. Bitcoin’s open interest hovered below 750,000 BTC, indicating subdued trading activity across major cryptocurrencies.
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### DATES
– Wednesday
### PEOPLE
– None
### ORGANISATIONS
– Harmony: A layer-1 blockchain network for DeFi protocols and marketplaces.
– Deribit: A decentralized trading platform for crypto derivatives.
### KEY FACTS
– 4 billion ONE tokens minted through an exploit by Harmony.
– ONE’s price dropped as much as 40% to a record low.
– Open interest in DOGE futures grew to 17.2 billion tokens, the most since October.
– Bitcoin’s open interest hovered below 750,000 BTC.
### UNCERTAINTIES
None
Written by Oliver Grant
Markets Desk
