{"id":331746,"date":"2024-06-26T21:05:42","date_gmt":"2024-06-26T15:35:42","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=331746"},"modified":"2024-06-26T21:05:43","modified_gmt":"2024-06-26T15:35:43","slug":"how-resilience-against-ddos-attack-sets-ada-to-target-0-8-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/how-resilience-against-ddos-attack-sets-ada-to-target-0-8-crypto-news\/","title":{"rendered":"How Resilience Against DDoS Attack Sets ADA to Target $0.8\u00a0 – Crypto News"},"content":{"rendered":"

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Cardano Price Analysis: The cryptocurrency market witnessed ease in selling pressure this week as the falling Bitcoin<\/a> price stabilized above $60000. The renewed demand pressure has triggered a relief rally of major altcoins, including Cardano. The ADA price rebounded 9% in three days in an attempt to reclaim the $0.4 mark. Will the recovery be sustained?<\/span><\/p>\n

Also Read: Charles Hoskinson Says \u201cCardano Is Waking Up\u201d As Sundae V3 Pulls Big Numbers<\/a><\/p>\n

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Cardano Faces Unsuccessful DDoS Attack Aimed at Stealing Staked Tokens<\/b><\/h2>\n
\"BINANCE:ADAUSDT
Cardano Price Analysis| Tradingview<\/figcaption><\/figure>\n

The current correction trend in the Cardano<\/a> coin was initiated in mid-March as the price reverted from $0.81. The downfall tumbled the asset value by 55.9% to hit a low of $0.357. However, an analysis of the daily chart shows the falling ADA price resonated within two trendlines indicating the formation of a wedge pattern.<\/span><\/p>\n

The converging resistance and support levels suggest that Cardano (ADA) is on the verge of a decisive breakout, which will determine its upcoming price direction. Recently, the ADA price rebounded from the lower trendline and surged to $0.39, and the market cap jumped to $14.02 Billion. If the buying pressure continues, the Cardano price<\/a> is set to challenge the overhead trendline, potentially attempting a bullish breakout.<\/span><\/p>\n

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On June 26, 2024, Cardano experienced a Distributed Denial of Service (DDoS) attack targeting staked tokens. However, the attack was ultimately unsuccessful in achieving its goal, and Cardano\u2019s network remained resilient.<\/span><\/p>\n

Also Read: Cardano Hit With Massive DDoS Attack Yet Thriving, Here\u2019s Reason<\/a><\/p>\n

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On Block 10,487,530, an attack on the Cardano network began.<\/p>\n

\ud83d\udc1b Each transaction executes 194 smart contracts.
\ud83d\udc1b The attacker is spending 0.9 ADA per transaction.
\ud83d\udc1b They are filling each block with many of these transactions.
\ud83d\udc1b The smart contracts used are of type REWARD.<\/p>\n

In\u2026 pic.twitter.com\/QUVm0pq0Q8<\/a><\/p>\n

\u2014 elraulito (@ElRaulito_cnft) June 25, 2024<\/a><\/p>\n<\/blockquote>\n

The CTO of Fluid Token, identified as ElRaulito_cnft on Twitter, reported that the attack began at block 10,487,530. Each transaction involved in the attack executed 194 smart contracts. Despite the sophistication of the attack, Cardano\u2019s network remained resilient.<\/span><\/p>\n

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The attacker expended 0.9 ADA<\/a> per transaction in their attempt to compromise the network. However, the efforts did not lead to the theft of any staked tokens, demonstrating the robustness of Cardano\u2019s security measures against such threats.<\/span><\/p>\n

A potential breakout from the wedge pattern will signal the end of the correction trend and bolster buyers to renew the recovery trend. The post-breakout rally could target a higher high of $0.52, followed by $0.8.<\/span><\/p>\n

Technical Indicator:<\/b><\/h2>\n