A much needed rebound

The stock market finally bounces back after a few brutal weeks. The Nasdaq and S&P finished the week on a strong note rising over 3%. This, however, is still a long ways from the beginning of the year. 

Returns on the stock market this year:

• Nasdaq: -26.5%

• S&P500: -18.25%

• Dow Jones: -13.5%

Many are still wary of the stability of the economy given recent layoffs, rising inflation, and a Federal Reserve rate hike. 

Harmony offers $1 million

The recent hack on the Horizon Bridge which stole over $100 million of assets has yet to be resolved. The Harmony team looks for more information while trying to resolve the matter directly. 

The increase of exploits and hacks has brought many applications to offer bug bounties. In this situation it was directed at the attacker, but many projects offer whitehat hackers rewards for finding vulnerabilities in their code.

Earlier this month a similar situation arose when Optimism was taken for 20 million OP tokens. The team was able to get in communication with the hacker and recover most of the stolen funds. The hacker kept roughly $1.5 million as a bounty.

Talk about high risk high reward!

Memecoin Momentum

It's been a while since memecoins have come into the picture but, over the past week, Dogecoin and Shiba Inu have risen sharply. Bitcoin is still hanging around the 21k mark, but plenty of other alt-coins recovery violently during the rebound off lows.

Weekly gains per CoinMarketCap:

• Dogecoin: 26%

• Shiba Inu: 38%

• Polygon: 52%

• UniSwap: 38%

Green days have been hard to come by, but some smaller cap tokens have shed some hope to investors. Looking at alt-coins can give you a good idea where the sentiment of the market is at and what investors/users are feeling.