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Linea’s Blockchain Halt Ignites Decentralization Debate

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The recent halt of Linea’s blockchain has ignited discussions about its commitment to decentralization as an Ethereum Layer-2 (L2) solution.

Significant security concerns drove the decision, and industry experts weighed in on the implications for the project’s decentralized future.

Linea’s Effort in Balancing Decentralization and Security

Following Linea’s decision to halt block production, Alex Gluchowski, CEO of Matter Labs, emphasized the importance of decentralization in L2 projects. He noted that central control could undermine the principles that Ethereum L2 projects aim to uphold.

“Decentralizing the sequencer isn’t optional. Every serious L2 stack must race to do first,” he said.

Responding to Gluchowski’s statement, Declan Fox, the Product Lead at Linea, asserted their commitment to decentralizing all aspects of their network. Fox expressed confidence in their progress despite being a newer project compared to others.

Read more: Layer-2 Crypto Projects for 2024: The Top Picks

“Agree that decentralization is not an option. Linea is on a solid path to decentralizing all aspects of the network in a very aggressive time window. Given that many Rollup frameworks more than 2 years older than us are no further ahead, I’m pretty delighted with our pace,” Fox stated.

The Linea team also affirmed its commitment to decentralize its network, including the sequencer. They highlighted that achieving a decentralized, censorship-resistant environment would prevent them from halting block production or censoring addresses in the future.

“Linea’s goal is to decentralize our network—including the sequencer. When our network matures to a decentralized, censorship-resistant environment, Linea’s team will no longer have the ability to halt block production and censor addresses—this is a primary goal of our network. Most L2s, including Linea, still rely on centralized technical operations, which can be leveraged to protect ecosystem participants. Linea’s core value is a permissionless, censorship-resistant environment, so it was not a decision we took lightly,” the team wrote.

Linea stopped its blockchain activities after a security breach occurred on Velocore, a decentralized exchange (DEX) that operates on its network. The breach led to the unauthorized transfer of $2.6 million from the Linea network via an undisclosed bridge service.

Linea suspended its sequencer to prevent the attacker from illegally moving more assets, as they could not reach the Velocore exchange team in time. Additionally, Linea blocked the hacker’s addresses to minimize the impact on its users.

Linea defended its actions, stating that the hacker was starting to sell a significant amount of tokens for ETH. This could have led to additional user problems beyond the liquidity pool-draining exploit.

Despite the controversy, Yu Xian, founder of cybersecurity firm SlowMist, defended the suspension. He argued that it was plausible considering the project’s early stage. Furthermore, Xian stressed the importance of ensuring robust security before achieving full decentralization.

“Choosing to suspend itself and blacklist the L2 of the relevant address to stop the loss of an ecological project being hacked is understandable in the early stage, but it will become more and more impossible as time goes by. The challenges of security and trust are so great,” Xian opined.

Read more: Crypto Project Security: A Guide to Early Threat Detection

Throughout history, there have been cases where developers have temporarily stopped their blockchain operations in response to major security breaches. For instance, in 2022, Binance’s BNB Chain was halted in response to a debilitating bridge hack worth $566 million. Despite the debate, many regard these measures as essential to safeguard the network’s integrity and user security.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Price Breakout In Progress—Momentum Builds Above Resistance

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Bitcoin price is slowly moving higher above the $86,500 zone. BTC is gaining pace and might continue higher in the near term.

  • Bitcoin found support at $84,200 and started a recovery wave.
  • The price is trading above $85,500 and the 100 hourly Simple moving average.
  • There was a break above a connecting bearish trend line with resistance at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another increase if it clears the $88,000 zone.

Bitcoin Price Eyes Steady Increase

Bitcoin price remained stable above the $83,200 level and started a fresh increase. BTC was able to climb above the $84,200 and $85,000 resistance levels.

There was a break above a connecting bearish trend line with resistance at $85,000 on the hourly chart of the BTC/USD pair. The bulls were able to pump the price above the $86,500 resistance. It even spiked above $87,000. A high is formed near $87,562 and the price might continue to rise unless there is a move below the 23.6% Fib retracement level of the upward move from the $84,007 swing low to the $87,562 high.

Bitcoin price is now trading above $86,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $87,500 level. The first key resistance is near the $88,000 level.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $88,800. A close above the $88,800 resistance might send the price further higher. In the stated case, the price could rise and test the $89,500 resistance level. Any more gains might send the price toward the $90,000 level.

Downside Correction In BTC?

If Bitcoin fails to rise above the $88,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $87,000 level. The first major support is near the $86,750 level.

The next support is now near the $86,000 zone. Any more losses might send the price toward the $85,750 support or the 50% Fib retracement level of the upward move from the $84,007 swing low to the $87,562 high in the near term. The main support sits at $84,850.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $86,750, followed by $86,000.

Major Resistance Levels – $87,500 and $88,000.



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Will XRP Break Support and Drop Below $2?

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XRP is down 5% over the past week, struggling to regain momentum as technical indicators flash mixed signals. Its Relative Strength Index (RSI) has dropped below 50, and the price remains stuck within a tight range between key support and resistance levels.

At the same time, the Ichimoku Cloud has shifted from green to red, with a thickening cloud ahead suggesting growing bearish pressure. With volatility compressing and momentum fading, XRP is nearing a critical point where a breakout—or breakdown—seems increasingly likely.

XRP Struggles to Regain Momentum as RSI Drops Below 50

XRP’s Relative Strength Index (RSI) is currently sitting at 44.54, after recovering from an intraday low of 40.67. Just yesterday, it was at 51.30, highlighting increased short-term volatility.

RSI is a momentum indicator that measures the speed and magnitude of recent price changes to evaluate overbought or oversold conditions.

Readings above 70 typically suggest an asset is overbought, while readings below 30 indicate it may be oversold.

XRP RSI.
XRP RSI. Source: TradingView.

With XRP’s RSI at 44.54, it’s currently in neutral territory, showing neither strong buying nor selling pressure.

However, the fact that it hasn’t crossed the overbought threshold of 70 since March 19—over a month ago—signals a lack of sustained bullish momentum. This could mean XRP is still in a consolidation phase, with the market waiting for a clearer direction.

If RSI continues to climb toward 50 and beyond, it may hint at building momentum, but without a breakout above 70, upside could remain limited.

XRP Faces Uncertainty as Bearish Trend Begins to Expand

XRP is currently trading inside the Ichimoku Cloud, signaling market indecision and a neutral trend.

The Tenkan-sen (blue line) has crossed below the Kijun-sen (red line), which is a bearish signal, but with the price still within the cloud, it lacks full confirmation.

The cloud itself acts as a zone of support and resistance, and XRP is now moving sideways within that zone.

XRP Ichimoku Cloud.
XRP Ichimoku Cloud. Source: TradingView.

Looking ahead, the cloud has shifted from green to red—a sign that bearish momentum may be building. Even more concerning is that the red cloud is widening, which suggests increasing downward pressure in the near future.

A thickening red Kumo often signals stronger resistance overhead and a potential continuation of a bearish trend if the price breaks below the cloud.

Until XRP breaks out decisively in either direction, the market remains in a wait-and-see phase, but the growing red cloud tilts the bias toward caution.

XRP Compression Zone: A Breakout Could Send Price to $2.50 — Or Much Lower

XRP price is currently trading within a tight range, caught between a key support level at $2.05 and resistance at $2.09. This narrow channel reflects short-term uncertainty, but a decisive move in either direction could set the tone for what’s next.

If the $2.05 support fails, the next level to watch is $1.96. A break below that could trigger a steep drop toward $1.61, which would mark the first close below $1.70 since November 2024—a bearish signal that could accelerate selling pressure.

Recently, veteran analyst Peter Brandt warned that a major correction could hit XRP soon.

XRP Price Analysis.
XRP Price Analysis. Source: TradingView.

On the flip side, if bulls regain control and push XRP above the $2.09 resistance, the next target lies at $2.17. A breakout beyond that could open the door to a move toward $2.50, a price level not seen since March 19.

For that to happen, XRP would need a clear resurgence in momentum and buying volume.

Until then, the price remains trapped in a narrow zone, with both upside and downside potential on the table.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Dogecoin Defies Bullish Bets During Dogeday Celebration

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On April 20, Dogecoin enthusiasts worldwide united to mark Dogeday, a community-driven holiday celebrating the world’s most recognizable meme coin.

While the festivities showcased the coin’s loyal fanbase and cultural relevance, the celebration failed to spark any meaningful market movement.

Dogeday Fails to Lift Dogecoin Price as Traders Face $2.8 Million in Liquidations

Instead of riding a wave of positive sentiment, Dogecoin was the worst-performing asset among the top 20 cryptocurrencies during the past day.

According to data from BeInCrypto, the token dropped over 2.5% during the reporting period compared to the muted performance of the general market.

This disappointing performance led to roughly $2.8 million in liquidations, with traders betting on an upward price movement losing more than $2 million, per Coinglass figures.

Dogecoin 24-Hour Liquidation.
Dogecoin 24-Hour Liquidation. Source: CoinGlass

However, even with the lackluster price action, Dogecoin’s relevance in the crypto ecosystem remains undeniable. Launched in 2013 as a parody of Bitcoin, DOGE has grown far beyond its meme origins.

The digital asset is now the ninth-largest cryptocurrency by market capitalization, currently valued at approximately $22.9 billion, according to CoinMarketCap.

Much of its growth can be attributed to high-profile endorsements. Tesla CEO and presidential advisor Elon Musk has repeatedly voiced support for Dogecoin, as has billionaire entrepreneur Mark Cuban. Their backing helped shift public perception of DOGE from a joke to a legitimate digital asset and payment option.

On social media, Dogecoin continues to lead the memecoin narrative. According to CryptoRank, it was the most mentioned memecoin ticker on X (formerly Twitter) in the past month. This visibility continues to fuel both community engagement and investor interest.

Top Meme Coins on X.
Top Meme Coins on X. Source: Cryptorank

Moreover, institutional interest in Dogecoin is also on the rise. Major asset managers, including Bitwise, Grayscale, 21Shares, and Osprey, have submitted filings to the US Securities and Exchange Commission (SEC) seeking to launch spot Dogecoin ETFs.

If granted, these financial investment vehicles could become the first exchange-traded funds centered entirely on a meme coin.

Considering this, crypto bettors on Polymarket put the odds of these products’ approval above 55% this year. This optimism reflects a growing belief that Dogecoin could soon secure a place in mainstream financial markets.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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