Radiant Capital to Gradually Shut Down Operations After $50 Million Hack
- Closure Announcement: Radiant Capital has decided to gradually wind down operations after losing $50 million in a hack, citing inability to recover stolen assets, lack of new capital, and financial flexibility, indicating severe sustainability challenges.
- Insufficient Community Support: Despite ongoing contributions from community members that helped keep the system afloat, these efforts ultimately proved inadequate to ensure the company's sustainability without recovery, capital infusion, or growth.
- Sharp Decline in TVL: Following the October 2024 hack, Radiant's total value locked plummeted from $386.8 million to $75 million and further down to $5 million, reflecting a dramatic loss of market confidence.
- Token Price Drop: The native token RDNT fell by 4.2% after the closure announcement, dropping from an all-time high of $0.58 in September 2022 to a significantly lower value, indicating investor pessimism about future prospects.
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Technical Analysis for RDNT
Technical Sentiment Analysis for Radiant Capital (RDNT). As of , Radiant Capital (RDNT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RDNT 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, RDNT 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 $-.
Radiant Capital (RDNT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000577 | 0.000858 | 0.00117 | 0.00145 | 0.00176 | 0.00204 | 0.00235 |
| Fibonacci | 0.000858 | 0.00108 | 0.00122 | 0.00145 | 0.00168 | 0.00181 | 0.00204 |
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