USDT News: VINE Token Surges to $400 Million Market Cap on BYDFi

The VINE token has made a remarkable debut on BYDFi, achieving a temporary market capitalization of $400 million within the first 24 hours of trading. Despite a slight decline, its trading volume continues to grow, reaching $1.37 billion, making it one of the most actively traded tokens on the platform.

VINE Token Hits $400 Million Market Cap, Now Available for Trading on BYDFi

On January 23, 2025, BYDFi, a global crypto exchange, announced the launch of the VINE/USDT spot trading pair. Within the first 24 hours of trading, the VINE token recorded significant activity, reaching a temporary market capitalization of $400 million before stabilizing. While it has since experienced a slight decline, its trading volume continues to rise, currently reaching $1.37 billion, securing a spot among the most traded assets on the Solana blockchain. On-chain data indicates activity among new wallet addresses, with some reporting unrealized gains exceeding $1 million. The $VINE token was launched by its founder, marking the first major tech company founder to issue a cryptocurrency after the craze. Its CORE mission is to disrupt the traditional centralized economic model by introducing a decentralized approach.

Could Ethena Become the Leading Altcoin in 2025?

Ethena’s ENA token has experienced a significant surge of 550% in just five months, indicating strong market interest. The total supply of USDe, Ethena's synthetic dollar asset, has grown by 1.5 times, reaching $5.8 billion. Despite being a relatively new project, Ethena has quickly climbed to the top 10 decentralized finance (DeFi) platforms by Total Value Locked (TVL), ranking 10th with a TVL of $5.8 billion, closely following Uniswap (UNI). Ethena operates on the Ethereum (ETH) blockchain and focuses on USDe, which uses delta hedging with perpetual futures to maintain its peg to the dollar, differing from traditional fiat-backed stablecoins like Tether’s USDT. Maintaining high APY rates remains a challenge for Ethena as it continues to grow.

Hong Kong Court Serves Tokenized Notices to Crypto Wallets in $2.6 Million Scam

A Hong Kong court has issued tokenized notices to two TRON wallets implicated in a $2.6 million scam. The case involves a fraud claim by marketing consultancy firm Worldwide A-Plus, which alleges it was misled into transferring $2.6 million in Tether USDT to the two Tron wallets. The High Court of Hong Kong granted an injunction order in early December, preventing the wallet holders from disposing of the assets both in Hong Kong and worldwide. The challenge of serving the order to anonymous wallet holders was addressed by the law firm Ravenscroft & Schmierer, representing the plaintiff. This case sets a precedent in Hong Kong's pro-crypto legal approach.