TAO Breaks Resistance, HYPE Dips 14%— Yet BlockDAG PullS in $210M Following Keynote 3 Launch!

See how BlockDAG is stealing market attention with unmatched scalability and a booming presale, while HYPE struggles and TAO climbs toward $750.

Hyperliquid, a decentralized exchange known for offering high-yield liquidity provision and advanced DeFi products, has encountered a $12 million exploit, impacting the platform’s stability and leading to a 14% decrease in HYPE's price.

The exploit, which occurred on Monday, involved manipulation of the illiquid JELLY coin, enabling an attacker to siphon funds from Hyperliquid’s liquidity vault (HLP). The hacker spread nearly $7.167 million across several accounts and used leveraged trades to generate substantial gains in JELLY, ultimately siphoning about $12 million from the HLP.

In response to the exploit, Hyperliquid removed JELLY’s perpetual contracts and announced plans to enhance the validator voting system. The attacker reportedly lost nearly $1 million due to excessive trading fees.

However, despite the recovery efforts and technical fixes, many are now focusing on the broader implications of the incident, especially with HYPE's price decreasing by 14% to reach $14.23 after the exploit.

At the same time, Bittensor's TAO token has finally broken out of a six-month declining wedge formation, a pattern that could propel the coin toward $750 if the trend continues.

This pattern, which began in July 2023, is signaling a potential reversal of the downtrend that began in December 2022, when TAO hit an all-time high of $1,100.

"Breaking out of the wedge is bullish for new highs toward $750, especially if we see a continuation of the double-bottom formation at $300 and support from indicators like RSI and CVD, which are showing increasing buyer interest," the analyst noted.

Market numbers align with this optimism—open interest jumped 10.63% in the past 24 hours and now stands at $77.1 million. However, breaking through the $300 resistance level remains crucial for TAO to pursue higher targets.

"The strong technical signals and growing community interest in Bittensor could set the stage for a big upward move in the coming months."

As HYPE grapples with recovery and TAO faces technical resistance, another project is stealing attention with unmatched scalability and a booming presale.

BlockDAG (BDAG) is steadily pulling ahead, with its presale already exceeding $210.5 million and its price surging 2,380% as its ultra-fast DAG-based structure makes it a serious contender for the top Layer-1 title in 2025.

While HYPE is focused on short-term recovery and TAO faces a technical barrier, BlockDAG offers a unique combination of long-term growth potential and immediate gains, making it the ideal choice for those seeking a smart investment with excellent return potential.

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The post HYPE Dips 14% After $12M Exploit, Is It a Buying Opportunity? TAO Breaks Resistance, Can $750 Target Be Achieved? appeared first on Coindoo.

After a period of accumulation, the price of HYPE is beginning to reflect the project's potential. As the project gains momentum, traders can expect to see even more interest in the project, which could lead to even more substantial price gains in the coming months.

However, it's important to note that the cryptocurrency market is highly volatile, and the future price of HYPE is ultimately uncertain. Traders should always conduct their own research and invest at their own risk.

At the same time, Bittensor's TAO token has finally escaped a six-month declining wedge formation, a pattern that could propel the coin toward $750 if the trend continues.

This pattern, which began in July 2023, is signaling a potential reversal of the downtrend that began in December 2022, when TAO hit an all-time high of $1,100.

"Breaking out of the wedge is bullish for new highs toward $750, especially if we see a continuation of the double-bottom formation at $300 and support from indicators like RSI and CVD, which are showing increasing buyer interest."

Market numbers align with this optimism—open interest jumped 10.63% in the past 24 hours and now stands at $77.1 million. However, breaking through the $300 resistance level remains crucial for TAO to pursue higher targets.

"The strong technical signals and growing community interest in Bittensor could set the stage for a big upward move in the coming months."

As HYPE grapples with recovery and TAO faces technical resistance, another project is stealing attention with unmatched scalability and