LA (Lagrange) has pumped 6.05% in the last 24 hours.

Gate News Bot news, on September 16, according to CoinMarketCap, as of the time of publication, LA (Lagrange) is currently priced at $0.39, having risen 6.05% in the last 24 hours, with a high of $0.40 and a low of $0.34. The current market capitalization is approximately $754,000, an increase of $4.3 million compared to yesterday.

Lagrange Foundation is dedicated to building a verifiable world. The foundation focuses on the development of the Lagrange ecosystem and provides information related to the LA token. Lagrange Foundation encourages users to join its Discord community to learn more about the LA token.

Important recent news from LA:

1️⃣ Yala stablecoin YU experiences a decoupling event Recently, the Yala stablecoin YU experienced severe price fluctuations, falling to a low of $0.2074. Although the price of YU has rebounded, it has not fully restored its peg. This event may raise concerns in the market regarding decentralized stablecoin projects, indirectly affecting the confidence in other cryptocurrency projects, with small market capitalization tokens like LA potentially being impacted.

2️⃣ Yala protocol suspected of being hacked The Yala protocol may have encountered a security vulnerability, leading to unauthorized fund transfers. Although Yala has stated that the situation is under control, such incidents often trigger general concerns in the market regarding the security of DeFi projects, which may negatively impact the short-term performance of similar projects like LA.

3️⃣ Yala takes proactive remedial measures Yala promises to fully replenish the drained fund pool, ensuring that users can exchange YU for USDC at a 1:1 ratio. At the same time, Yala plans to release a detailed recovery plan and security enhancement measures in the short term. This proactive response may help alleviate market panic to some extent, benefiting the stability of the entire cryptocurrency market and indirectly providing support for small market capitalization tokens like LA.

From a technical perspective, although LA has shown a rise in the past 24 hours, investors should remain cautious given the current market environment's uncertainty. As a small market capitalization token, LA's price fluctuations could be more pronounced. It is advisable to closely monitor the subsequent developments of the Lagrange Foundation, as well as the overall security situation of the cryptocurrency market.

This message is not an investment advice; investors should be aware of market volatility risks.