Radiant Capital to Wind Down After $50M Hack

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

DEFI-4.04%

RDNT-11.62%

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Wind Down Announcement: Radiant Capital has announced its decision to wind down after failing to recover $50 million stolen in a hack, with its decentralized autonomous organization (DAO) unable to secure new capital or a sustainable operational path despite efforts to keep the protocol afloat.
Liquidity Collapse: Following the October 2024 hack, Radiant's total value locked (TVL) plummeted from approximately $75 million to $5 million, indicating a sharp decline in investor confidence in decentralized finance (DeFi) cross-chain liquidity models.
Maintenance State and User Impact: While the project will enter a maintenance state allowing users to access the frontend and smart contracts to manage their assets, no further development or upgrades will occur, leaving users without new features or risk controls.
Industry Warning: The winding down of Radiant highlights the fragility of DeFi projects when faced with high risks and security incidents, prompting industry observers to call for enhanced security assurances and user protections to better navigate potential future crises.

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Technical Analysis for DEFI

Technical Sentiment Analysis for DeFi (DEFI). As of , DeFi (DEFI) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 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 crypto.

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	0.000129	0.000155	0.00018	0.000205	0.00023	0.000256	0.000281
Fibonacci	0.000155	0.000174	0.000186	0.000205	0.000224	0.000236	0.000256

About DEFI

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About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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