Bybit: BTC MVRV Crosses 1, 320 NFTs Stolen From NFT Tool Premint
Chart of the Day
On Monday, the broader crypto market saw sentiment improving amid major digital assets’ strong rebound from lows. BTC surged above $22.7k, reaching its highest price in over a month, before experiencing a downside correction. As of the time of writing, the largest cryptocurrency by market cap is consolidating above the $22k handle after posting a 1% gain over the last 24 hours. A bullish trend line with support near the $21.8k level is taking shape on BTC’s hourly chart. Should BTC be able to turn the $22.5k resistance level into solid support, rising above the $23k resistance level would no longer seem like a remote possibility for BTC. Bybit Blog reports.
BTC’s MVRV value also attempts to break above the 1.0 mark, suggesting the potential return of market strength. In addition, BTC’s spot price begins to diverge from the delta price (now at $14.2k) and the balanced price (currently hovering near $17.5k). Both are tested indicators of the potential bottom formation process.
In a similar vein, ETH has established a stronger foothold above the $1,500 handle after rising by 6% in the same period. The second-largest cryptocurrency by market cap momentarily soared past the $1,600 handle on the back of optimism about the imminent Merge. However, ETH’s bullish momentum may take a breather if it fails to break above the immediate resistance level near $1,550. In the altcoin market, MATIC is leading the pack with a whopping 60% increase over the last seven days, while ETC and NEAR top the daily gainer chart with double-digital percentage gains over the last 24 hours.
Talk of the Town
Popular NFT service provider Premint fell victim to a hack on Sunday that led to the theft of 320 NFTs. The stolen NFTs were then resold on marketplaces and churned a total profit of $400,000, marking the incident as one of the more severe attacks this year. According to forensics analysis by blockchain security firm CertiK, the hackers infiltrated the Premint website with malicious JavaScript code, creating a pop-up window prompting users to verify their wallet ownership. Shortly after the attack, Premint announced on Twitter that the majority of accounts were unaffected by the hack.
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