Kraken Adopts Chainlink CCIP, Replacing LayerZero for Cross-Chain Communication
- Security Enhancement: Kraken has officially adopted Chainlink's Cross-Chain Interoperability Protocol (CCIP) to replace LayerZero, aiming to improve the security of cross-chain communication, especially after the security incident involving Kelp DAO's rsETH token, demonstrating a strong commitment to user asset safety.
- Industry Trend: With over $2.5 billion lost to cross-chain bridge exploits since 2021, Kraken's shift reflects the growing industry focus on security, as more protocols and exchanges migrate towards more secure solutions.
- LINK Token Benefits: Chainlink's native token, LINK, stands to benefit from Kraken's adoption, reinforcing its position as the leading oracle network and cross-chain solution, while LayerZero's ZRO token faces challenges with declining market confidence.
- Improved User Experience: Users performing cross-chain transactions on Kraken will now be routed through Chainlink CCIP, maintaining the same user experience while enhancing security guarantees, thus providing a more reliable trading environment.
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Technical Analysis for ZRO
Technical Sentiment Analysis for LayerZero (ZRO). As of , LayerZero (ZRO) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ZRO 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 crypto.
Support, Resistance & Moving Averages. From a structural perspective, ZRO 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 $-.
LayerZero (ZRO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.203 | 1.291 | 1.381 | 1.469 | 1.559 | 1.647 | 1.737 |
| Fibonacci | 1.291 | 1.359 | 1.401 | 1.469 | 1.537 | 1.579 | 1.647 |
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