Coindesk

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.Prices for privacy-protecting digital currency Zcash (ZEC) have moved past a key resistance or supply zone, hinting at bigger gains ahead.Since February, ZEC has traded sideways, with sellers dominating above $40. Meanwhile, dips near $25 have consistently found support, keeping the price within a narrow range.On Sunday, buyers finally managed to chew through the long-held supply zone of $40-$43, hitting a high of $45.80 on crypto exchange HTX, the level last seen on Jan. 26, according to data source TradingView.The so-called range breakout is like a spring uncoiling bullishly after building up demand during consolidation. This release of stored energy often results in a sharp, rapid...

Lido, Ethereum’s largest liquid staking protocol, avoided a major security incident after one of its nine oracle keys was compromised in what appears to be a low-impact but serious breach involving validator operator Chorus One.Lido secures over 25% of all ETH staked on Ethereum, making it one of the most systemically important protocols in the Ethereum ecosystem.The compromised key was tied to a hot wallet used for oracle reporting, leading to the theft of just 1.46 ETH ($4,200) in gas fees. No user funds were affected, and no broader compromise was detected, per X posts from both Lido and Chorus OneLido’s oracle system is a blockchain-based tool that supplies Ethereum consensus data to Lido’s smart contracts using a 5-of-9 quorum...

Bitcoin BTC could soon hit record price highs, triggering accelerated gains in the wider altcoin market, as easing U.S.-China trade tensions may see markets react positively to a potential slowdown in the April CPI due this week.The United States has reached a trade agreement with China after two days of high-level negotiations in Geneva, U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer announced on Sunday. Both countries are set to issue a joint statement on the Geneva trade talks later Monday.The trade deal comes after weeks of a tit-for-tat trade war that saw both countries raise import tariffs above 100%, threatening to inject inflation into the global economy. As such, the positive March U.S. consumer price inflation data released last...

Decentralized finance (DeFi) on the Bitcoin blockchain may still be in its infancy relative to Ethereum, but Bitcoin DeFi (BTCFi) is becoming safer and cheaper, crypto analytics firm Messari said in a new report.A central participant is Rootstock, one of the oldest Bitcoin layer-2 projects, crypto analytics firm Messari said in its "State of Rootstock" report, published on Thursday. Rootstock is now secured by 81% of Bitcoin's total hashrate, meaning miners that account for amount the hashrate are also approving transactions on the layer 2. The figure was just 56% before the the onboarding of Foundry and Spiderpool, the world's largest and sixth-largest mining pools, respectively, in February.Messari also observed that transaction fees on Rootstock are 95% cheaper than the...

They crypto bull move continued into the weekend thanks to a trio of positive macro developments.Likely most responsible for the move was a President Trump Truth Social post regarding trade talks being held in Switzerland between the U.S. and China."A very good meeting today," said Trump. "Many things discussed, much agreed to," he continued. "A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!"Earlier Saturday, Trump also announced a "full and immediate" ceasefire in the brewing war between India and Pakistan.Completing the trio of good news, Russian President Putin said he was "in the mood for...