Gnosis Chain Executes Hard Fork to Recover $116 Million from Balancer Exploit
- Security Breach Response: Gnosis Chain's implementation of a hard fork aims to recover assets lost in a $116 million exploit targeting Balancer, demonstrating the community and developers' commitment to addressing significant DeFi hacking incidents.
- Fork Execution Details: The hard fork was successfully executed on Monday after a majority of validators adopted a soft fork in November, indicating the community's rapid response and adaptability to security measures.
- Asset Recovery Progress: While white hat hackers have successfully recovered approximately $28 million of the stolen assets, the majority remains unaccounted for, highlighting the ongoing challenges of security vulnerabilities within the DeFi ecosystem.
- Future Plans: Gnosis aims to safely recover funds by Christmas and store them in a DAO-controlled wallet, with subsequent discussions planned on how users can reclaim their funds and how contributors to the recovery efforts may be compensated.
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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 7 technical signals, shows that 4 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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