Three Crypto Projects Respond to Hacks
- Reflect Recovery Plan: Reflect launched a voluntary recovery program for USDC+ holders on July 2, aimed at assisting users affected by the Drift Protocol hack, allowing them 180 days to accept compensation of 0.20 USDC and 80 Reflect Credits per unit, thereby alleviating the impact of frozen funds.
- Velocity DEX Compensation Mechanism: After suffering over $280 million in hacks, Drift rebranded to Velocity DEX and introduced a token-based compensation system, requiring users to wait for the recovery pool to reach $5 million for redemption, with $3.8 million currently available, expected to grow through quarterly revenue and strategic partner contributions.
- Humanity Protocol New Token Issuance: Following a $36 million hack on June 9, Humanity Protocol decided to issue a new audited ERC-20 token, with existing holders receiving an airdrop to partially restore their losses, although the founder indicated that recovery of stolen funds is unlikely.
- User Recovery Outlook Variance: Users of Reflect are relatively optimistic due to a clear compensation plan, while Velocity DEX users face uncertainty as its token trades near all-time lows, and Humanity Protocol users are informed of minimal chances for recovery, highlighting differing approaches to hack incidents among projects.
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Technical Analysis for DRIFT
Technical Sentiment Analysis for Drift (DRIFT). As of , Drift (DRIFT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DRIFT 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, DRIFT 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 $-.
Drift (DRIFT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0131 | 0.0142 | 0.0151 | 0.0162 | 0.0171 | 0.0182 | 0.0191 |
| Fibonacci | 0.0142 | 0.0149 | 0.0154 | 0.0162 | 0.0169 | 0.0174 | 0.0182 |
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