Step Finance Hack Results in $30 Million Loss of SOL Tokens
- Hack Incident: Step Finance experienced a hack that resulted in the unstaking and transfer of 261,854 SOL tokens, valued at approximately $30 million, as reported by SolanaFloor, highlighting security vulnerabilities within the DeFi ecosystem.
- Market Reaction: The incident led to a decline in SOL's price and trading volume, with SOL currently trading at $101.33 and a 24-hour trading volume of about $708.2 million, marking a 6.57% decrease, indicating heightened market sensitivity to security issues.
- STEP Token Plunge: Following the disclosure of the breach, the value of STEP tokens plummeted by 80-93%, reflecting a severe loss of investor confidence in DeFi security, which could lead to broader market volatility.
- Investigation and Response: Step Finance has initiated an investigation and notified authorities, stating that they will collaborate with cybersecurity firms for remediation; although user funds were not exposed, this incident may prompt increased regulatory scrutiny on DeFi.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI) As of , DeFi (DEFI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DEFI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DEFI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000204 | 0.000249 | 0.000293 | 0.000338 | 0.000382 | 0.000427 | 0.000471 |
| Fibonacci | 0.000249 | 0.000283 | 0.000304 | 0.000338 | 0.000372 | 0.000393 | 0.000427 |
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