YALA (Yala) has pumped 11.96% in the last 24 hours.

Gate News Bot news, on September 19, according to CoinMarketCap, as of the time of writing, YALA (Yala) is currently priced at $0.17, with a 24-hour pump of 11.96%, reaching a high of $0.20 and a low of $0.13. The current market capitalization is approximately $41.6874 million, an increase of $4.44 million compared to yesterday.

Yala is a platform that mints $YU stablecoins by over-collateralizing BTC, aiming to unlock cross-chain liquidity and generate yields in areas such as DeFi protocols and real-world assets. Yala offers true autonomy: self-custody, low liquidation risk, and full exposure to Bitcoin. The project drives liquidity through long-term demand for BTC, creating a virtuous cycle of adoption and growth.

Recent important news about YALA:

1️⃣ The Yala project plans to destroy illegally minted YU tokens to restore the stablecoin peg Yala announced that it will destroy illegally minted YU tokens on September 23 and restore the 1:1 USDC exchange ratio. This move aims to address the recent attack incident that caused the YU token to depeg, which is expected to boost market confidence. At the same time, Yala promises to provide compensation to users who suffered liquidation losses due to the depegging, which may help maintain user rights and the platform's reputation.

2️⃣ Yala actively takes security measures and suspends some functions In response to security incidents, Yala has temporarily closed the Convert and Bridge functions for system upgrades and security enhancements. At the same time, the official strongly advises users to avoid any transactions or operations related to YU and YBTC before the new plan is officially implemented. These measures indicate that Yala is actively addressing risks and striving to protect user asset security.

3️⃣ Yala cooperates with law enforcement to recover stolen assets Yala has identified stolen assets on the chain and is actively cooperating with law enforcement to recover losses. In addition, Yala is committed to fully ensuring liquidity, replenishing all drained funds in the pools, and ensuring that users can exchange YU tokens for USDC at a 1:1 ratio. These actions are expected to enhance investor confidence in Yala and support the rise of YALA prices.

From a technical perspective, the YALA price has rebounded from a low of $0.13 to $0.17, showing a significant rise, but it has not yet fully recovered to the levels prior to the attack event. As a series of remedial measures taken by Yala are gradually implemented, market confidence in YALA may further recover, but it may still face fluctuations in the short term.

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