Cardano experienced a temporary chain split due to a vulnerability in its old code; the CEO stated that the FBI has launched an investigation.
According to Cointelegraph, a temporary split occurred on the Cardano network due to a "malformed" delegation transaction. This type of transaction, which delegates ADA to a staking pool, while valid at the protocol level, can lead to code glitches that affect network functionality. According to an incident report released by Intersect, a Cardano ecosystem organization, the "malformed" transaction exploited an old code vulnerability in the Cardano blockchain's underlying software library, causing disagreements among nodes regarding how to process the transaction, ultimately resulting in the network split. This vulnerability was caused by an ADA staking pool operator named Homer J, who used AI-generated code to drive the transaction and has admitted responsibility for the split. Staking pool operators have been asked to download the latest version of their node software to fix the problem and reintegrate the split chain into a complete blockchain. This temporary split has sparked debate within the Cardano community, with some believing Homer J's actions helped expose a critical vulnerability, while others, such as Cardano founder Charles Hoskinson, claim it was an attack on the Cardano network, and the FBI has launched an investigation. One user joked, "Nobody notices Cardano's network partition because nobody uses it."
The probability of a 25 basis point rate cut by the Federal Reserve in December is now reported at 71%.
According to CME's FedWatch tool, on November 22, the probability of the Federal Reserve cutting interest rates by 25 basis points in December was 71%, while the probability of keeping interest rates unchanged was 29%.
CoinKarma: BTC shows signs of high turnover and a price stabilization pattern, a typical short-term bottom signal.
Cryptocurrency trading indicator analysis platform CoinKarma posted on social media that, based on the CVD technical indicator, BTC has faced strong selling pressure for several consecutive days this week after breaking below key long-term support levels, leading to an accelerated decline. However, they also noted that BTC's daily closing spot trading volume on multiple trading platforms reached its highest level in recent times, indicating significant market turnover. This type of high-volume turnover followed by a halt in the decline is a typical short-term bottoming signal.
Bitwise Advisor: Market volatility characteristics indicate that traders believe a rapid rebound is imminent, and volatility may remain high.
On November 23, Bitwise advisor Jeff Park posted on social media that a noteworthy phenomenon in the recent sell-off is that market volatility is more akin to "strike price stickiness" than "Delta stickiness." (This indicates that the sell-off was not driven by market makers' mechanical dynamic hedging, but rather by the concentrated views and behaviors of market participants regarding a specific price point (strike price). This is a stark contrast to market performance during "liberation days." This characteristic signals two possible scenarios: first, traders believe a rapid market rebound is possible; second, volatility will remain at a high level.
Port3 was hacked this morning, who exploited a vulnerability to issue and sell off tokens, causing the price to plummet by over 82%.
On November 23, AI-powered smart agent Port3 Network issued a security alert on social media this morning, stating that a hacker exploited the BridgeIn vulnerability to issue an additional 1 billion tokens. To protect users, the team removed some liquidity and prepared to communicate with the hacker. On-chain data shows that the hacker dumped a large number of tokens on-chain but did not deposit them into a centralized exchange (CEX). Subsequently, the Port3 team removed on-chain liquidity, preventing the hacker from further cashing out. Some exchanges also closed deposit channels. The hacker ultimately destroyed all remaining tokens. Market data shows that, as of press time, this incident caused the PORT3 token to fall by 82.8%, from $0.037 this morning to a low of $0.0066, and has now recovered to $0.0086, with a market capitalization of only $4.05 million and an FDV of $8.11 million.
Banki Natsumi: $80,500 is a significant low point in this bear market, but it does not mean the bear market is over.
On November 23, renowned Chinese crypto analyst Banmuxia posted on social media that the time for Bitcoin to "load its guns" has arrived, and $80,500 can be considered a significant low point, or even the absolute bottom, in this bear market. However, this does not mean the bear market is over. This bear market has been running for over three months and may continue for another three to four months, but it is a sideways bear market. (ps: This is just an analysis; actual trading requires a well-thought-out entry and exit plan. However, spot trading can be a safe bet, buying and holding until the next bull market ends.)
From 31 billion to 100 billion TVL? Aave's next growth engine is surprisingly ordinary people who "don't speculate on cryptocurrencies".
Aave launches a retail savings app offering stablecoin yields of 6%-9%, challenging the traditional banking model and leveraging DeFi infrastructure to attract mainstream users.
Single Point Crisis: The Time Has Come for MM to Step Out of the Center
The article explores the network effects, market maker roles, market recovery phenomena, and the law of natural monopoly in the crypto market, pointing out changes in market structure and new industry trends.
