Severe Security Crisis Hits Cryptocurrency Industry
- Security Breach Losses: In under 20 days, digital asset platforms have lost over $605 million to cyberattacks, with the Kelp DAO incident alone accounting for approximately $293 million, marking the largest DeFi exploit of 2026 and highlighting the severe security risks facing the industry.
- Details of Kelp DAO Attack: The attacker exploited a vulnerability in LayerZero's communication system, successfully tricking its contract into releasing 116,500 rsETH, which represents about 18% of the circulating supply, an event that not only jeopardizes Kelp DAO's operations but also risks triggering broader market panic.
- Market Reaction and Impact: Aave, the largest DeFi lending platform, immediately froze its rsETH markets, resulting in a 20% drop in its native token during Asian trading hours, indicating the market's heightened sensitivity to security incidents that could undermine investor confidence and liquidity.
- Industry-Wide Crisis: The Kelp DAO breach follows the significant Drift Protocol exploit, reflecting the cryptocurrency industry's vulnerabilities in security measures, necessitating urgent enhancements to infrastructure to prevent further erosion of investor confidence.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0548 | 0.0576 | 0.0601 | 0.0629 | 0.0655 | 0.0683 | 0.0709 |
| Fibonacci | 0.0576 | 0.0596 | 0.0609 | 0.0629 | 0.065 | 0.0663 | 0.0683 |
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