Watch: Solana mass hack and Ripple on the rise: The Crypto Mile Weekly Update
US markets dipped after Nancy Pelosi's visit to Taiwan, but the escalating tensions with China failed to rattle the crypto-ecosystem. However, two serious hacks have dented the reputation of the blockchain-based industry.
On Wednesday, thousands of solana (SOL-USD) wallets were drained of funds a day after a "crypto-bridge" called Nomad lost around $200m (165.3m) in a hacker attack.
The Crypto Mile's Weekly Update checks in on the price movement of three blue-chip cryptocurrencies, ethereum (ETH-USD), solana and ripple (XRP-USD).
Ethereum has failed to rise in the past week despite the upcoming merge, and was down 0.57%, standing at $1,627 as of the time of writing.
Solana dipped, suffering after the reputational damage of the latest hack. SOL was at $39.21, down 1.8% in the past week.
However, ripple had an impressive week and was up almost 5% in the last seven days, at $0.37.
Thousands of Solana wallets...
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