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Ronin Bridge Paused After $9 Million Hack

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Ronin Bridge, an Ethereum sidechain built for the popular play-to-earn non-fungible token game Axie Infinity, has been hacked. The hack caused 3,996 Ethereum (ETH) worth approximately $9.33 million to be lost.

Players use the Ronin Bridge to transfer assets between the Ronin chain and the Ethereum network.

Ronin Bridge Comprised For $9 Million

On-chain detective PeckShield confirmed the breach, with Axie Infinity co-founder and chair Aleksander Leonard Larsen indicating halted operations. This pause paves the way for investigations, with reports from whitehats about a potential Maximal Extractable Value (MEV) exploit.

“The Ronin Network Bridge has been paused while we investigate a report from whitehats about a potential MEV exploit. We will follow up with more information shortly. The bridge currently secures over $850 million which is safe,” Leonard Larsen indicated.

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

Whitehat hackers in the crypto space are often individuals or organizations who use their cybersecurity skills and knowledge for ethical purposes. These include identifying vulnerabilities in blockchain platforms, smart contracts, and crypto wallets to help improve their security.

Nevertheless, this is not the first incident of the Ronin Bridge’s hacking.

In 2022, the Ethereum sidechain also suffered a $600 million attack after hackers accessed private keys to its validator nodes. This resulted in the compromise of five validator nodes, the threshold requisite for approving a transaction.

At the time, project developers raised $150 million to reimburse affected users. In the aftermath, they also closed the Ronin Bridge before reopening it months later

“Axie/Ronin is a cursed project I swear -Ronin bridge $600 million hack March 2022 -Axie/Ronin co-founder $9.7 million hack February 2024 -Now this bridge incident,” ZachXBT remarked.

The series of attacks has raised questions, given the network’s governance. For starters, the Ronin Bridge is not decentralized, with the team being the only validators and bridge to their own chain. The network did not immediately respond to BeInCrypto’s request for comment.

Despite the attack, Axie Infinity (AXS) token is up 9%, participating in the broader market recovery.

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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Key Solana Holders’ 6-Month High Accumulation Signal Price Rise

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Solana (SOL) has struggled to gain momentum over the past couple of weeks, and its price has failed to recover significantly. 

Despite this, the altcoin has seen signs of stabilization, with long-term holders (LTHs) showing increasing support. This shift could indicate a potential price rise, provided the current trend holds.

Solana Investors Move To Accumulate

The HODLer Net Position Change for Solana has been positive for the past four days, with consistent green bars indicating that LTHs are accumulating more SOL. This is the longest streak of accumulation in over six months, signaling confidence from long-term investors.

As these investors continue to add to their positions, Solana could build a solid foundation for a price rebound.

LTHs tend to significantly influence Solana’s price, as their holdings reflect longer-term confidence in the cryptocurrency. If this trend continues, the growing support from LTHs could provide the necessary backing to help Solana break through key resistance levels.

Solana HODLer Net Position Change
Solana HODLer Net Position Change. Source: Glassnode

However, despite the support from LTHs, Solana’s overall market sentiment is still mixed.

New addresses, an important metric for investor interest, have recently hit a six-month low. This indicates that fewer new investors are entering the market, reflecting a lack of optimism for a recovery in the short term. The last time new address activity was this low was in October, suggesting that investor confidence is currently subdued.

The drop in new addresses could signal caution among potential buyers, affecting the altcoin’s overall momentum. While LTHs continue to accumulate, the lack of fresh interest from new investors could delay any significant upward movement for Solana.

Solana New Addresses
Solana New Addresses. Source: Glassnode

SOL Price Vulnerable To Correction

Solana is currently trading at $119, holding just above the crucial support level of $118. While the altcoin is attempting to make its way to $135, mixed market sentiments suggest it may struggle to break through this resistance.

The price could consolidate between $118 and $135 as it builds enough momentum for a potential rally.

If Solana manages to bounce back, it may continue to trade within this range, allowing time for the market to stabilize and support further price appreciation. Consolidation could help SOL gather strength before another attempt to breach the $135 level.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView

However, if the price falls below $118, it could signal a shift in momentum, invalidating the bullish-neutral outlook. A drop below this support level would likely lead to further declines, potentially taking Solana down to $109, which would extend investors’ losses.

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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Ripple Highlights UK’s Potential to Become Global Crypto Hub

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Blockchain firm Ripple has called on UK policymakers to seize the moment and position the country as a global leader in digital assets.

Matthew Osborne, Policy director of Ripple Europe, revealed that panelists at Ripple’s recent London Policy Summit stated that the country has the right mix of financial expertise, infrastructure, and international reputation to lead this evolving sector.

UK Has ‘Second-Mover Advantage’

In a blog post, Osborne pointed out that one of the key takeaways from the summit was that the UK holds a “second-mover advantage” in the race for crypto regulation.

According to the post, the UK can adopt a more balanced and innovation-friendly regulatory framework by observing the early efforts of jurisdictions like the EU, Singapore, and Hong Kong.

They believe that this approach could ensure consumer protection while encouraging responsible growth across the sector.

“There is a huge opportunity for digital assets in the UK. With growing consensus that blockchain technology will transform financial markets, the UK already boasts a globally leading, competitive financial services center. And with particular strengths in FX, capital markets, insurance and professional services, the UK has all the building blocks to be a global leader in digital assets,” Osborne wrote.

The panelists furthered that these clear rules will improve institutional confidence, raise industry standards, and lower systemic risks. However, they also warned that the window to act is quickly closing.

“The window of opportunity is narrowing, and one clear theme that emerged from industry participants is the need to provide regulatory clarity with greater pace and urgency,” the blockchain firm noted.

The need for urgency stems from projections that digital assets could represent up to 10% of global capital markets by 2030, potentially holding a combined value of $4 to $5 trillion.

Osborne stressed that the UK must act boldly and collaboratively to remove unnecessary legal obstacles and create an innovation-friendly environment.

Meanwhile, another pressing concern the panelists highlighted was the lack of clarity around stablecoins.

Stablecoins are digital tokens pegged to fiat currencies like the US dollar and are essential to the broader crypto economy. As they are increasingly used for trading, payments, and settlements, stablecoins have become the backbone of the digital asset ecosystem.

Stablecoins Market Cap.
Stablecoins Market Cap. Source: IntoTheBlock

With a current market valuation exceeding $230 billion, stablecoins are expected to grow further as adoption increases.

Considering this, there are calls for the Financial Conduct Authority (FCA) to fast-track its stablecoin framework. The panelists emphasized the need for policies that support both domestically issued and foreign stablecoins operating within the UK.

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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Celestia (TIA) Price’s 30% Crash Prolonging Could Bring Recovery

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Celestia (TIA) has recently experienced a significant drawdown, losing nearly 30% of its value in the past two weeks. This decline has been attributed to the broader bearish market conditions, which caused panic among investors.

As a result, many TIA holders decided to pull their funds, adding to the downward pressure on the price.

Celestia Holders Opt To Back Out

The Chaikin Money Flow (CMF) indicator has shown significant outflows from Celestia, marking the largest selling activity since the beginning of 2025. This reflects the growing fear among investors after the 30% price correction. 

However, despite the negative sentiment, there has been an uptick in the CMF recently, indicating that some new investors are beginning to see value in the low prices. These inflows could potentially help stabilize the price and set the stage for a recovery.

Celestia CMF
Celestia CMF. Source: TradingView

The Relative Strength Index (RSI) for Celestia shows that cryptocurrency is currently on a bearish trend. Stuck below the neutral line at 50.0, the RSI is moving closer to the oversold threshold of 30.0. Historically, when an asset reaches this level, it is considered a signal for a potential reversal, as selling typically slows, and accumulation begins.

If the RSI falls below 30, it could trigger buying interest, as many traders may view the low prices as an opportunity to enter the market.

The current state of the RSI suggests that while bearish momentum is still strong, the conditions are ripe for a reversal. If the selling pressure wanes and buyers begin to step in, Celestia’s price could find support and begin an upward move.

Celestia RSI
Celestia RSI. Source: TradingView

TIA Price Could Be Looking At Recovery

Celestia is currently priced at $2.62, reflecting a nearly 30% decline over the past two weeks. It is holding just above the critical support level of $2.53. If the market sentiment improves and the RSI hits the oversold zone, there is potential for a recovery.

The influx of new investors could provide the momentum needed to drive the price higher.

A successful bounce from the $2.53 support level could see Celestia pushing through $2.73 and heading towards $2.99. This would signal the beginning of a recovery rally and possibly set the stage for further price appreciation as market conditions improve.

Celestia Price Analysis.
Celestia Price Analysis. Source: TradingView

However, if Celestia fails to hold the $2.53 support, it could trigger a further decline towards $2.27. This would invalidate the bullish outlook, prolonging the downtrend and extending investors’ losses.

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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