Ethereum under pressure: Verus bridge explosion threatens $2,100 level

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The price of Ethereum is under pressure to sell clearly, it is struggling to maintain the level of $ 2,100, at a time when the risks of the new protocol have created additional extensions. The hack that targeted the overpass led to the drain of more than $11 million, shaking confidence at a critical time in the market.

He was True-Ethereum He is the target this time; The attacker extracted 103.6 tBTC, 1,625 ETH, and 147,000 USDC, before converting the amount to 5,402.4 ETH, with a value of over $11 million. The hack follows a vicious cycle seen this year, with Kelp DAO losing nearly $293 million in April via the LayerZero messaging system, and the Drift attack earlier in the year adding another $270 million to the growing list of losses.

Bridge breaking continues to record the biggest losses of the year, and remains so Oracle risks and protocols They represent a permanent threat to the cryptocurrency system.

Ethereum Price Prediction: Retracement of $2,200 Before Bears Rule

ETH is currently in a consolidation phase from bearish to neutral, with a lack of potential triggers that could change this trend. The current price represents $2,110, with the Relative Strength Index (RSI) reaching 34, indicating complete weakness.

Larger values ​​refer to the amount of movement that is coming; Support is directly at $2,100, and any close below this level would open the door to an increase because there are no clear technical reasons. On the other hand, resistance is collected at $ 2,200, then $ 2,250 if Ethereum can achieve satisfactory results.

  • Rising event: ETH was consolidated above $2,100 as trading increased and regained the $2,250 level, with analysts expecting the price to reach around $2,425.
  • Basic events: Easy movement between $2,100 and $2,200 as the market digests the results of the breakout and waits for the ETF to enter.
  • How to ride: Closing below the level of $ 2,100 and the volume of high trades resisted the opposition of the consolidating opinion, which would put the real support at the next level.

The data shows On-net liquidity market and decentralized finance (DeFi). However, the latest hack adds to the hurdles in trying to restart, as the flow of money to smaller DeFi projects has already started to be seen. Therefore, Ethereum needs a real support and not just a technical pass.

The LiquidChain project aims to solve this problem as Ethereum tests its critical mass

As Ethereum hovers near a six-week low and bridge infrastructure continues to be hacked, DeFi participants are asking an important question: What does a more secure, scalable infrastructure look like?

The temporary outage of remote assets on the Bitcoin, Ethereum, and Solana networks is what makes bridges so valuable for attacks. To be clear, Kelp DAO’s loss of $293 million was caused by a failure in LayerZero’s messaging system, not a technical glitch.

https://twitter.com/getliquidchain/status/1988272292158403044

it appears LiquidChain company’s opinion As a 3-layer infrastructure, the project builds the so-called “cross-layer liquidity”, which aims to combine BTC, ETH and SOL liquidity in one place to be executed. The project’s architecture is based on four main components: a unified liquidity chain, one-step execution, guaranteed stability, and a “one-time delivery” model that allows developers to access all three systems without having to put their work on each chain separately.

The initial signal is given, $LIQUIDat its cost $0.0146The project managed to collect 770 thousand dollars on. This service also offers a great reward up to 1500% APY For first time buyers only.

A note Ethereum under pressure: Verus bridge explosion threatens $2,100 level appeared for the first time Cryptonews Arabic.



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