Schlagwort: crypto business

• Step Finance, SolanaFloor, and Remora Markets halt operations after hack.
• STEP token collapses, while Remora tokens remain redeemable.
• SOL breaks key $77 support as bearish trend dominates amid high volatility.

Step Finance, a leading DeFi aggregator and portfolio dashboard on Solana, has announced an immediate shutdown following a major security breach.

The Step Finance hack reportedly drained over 260,000 SOL from the platform’s treasury, leaving the project unable to recover financially.

Alongside Step Finance, two affiliated platforms, SolanaFloor and Remora Markets, are also winding down operations.

Today we are announcing that Step Finance, SolanaFloor, and Remora Markets will be winding down all operations.

Following the hack at the end of January we explored every possible path forward, including financing and acquisition opportunities.

Unfortunately, we were unable to…

— Step☀️ (@StepFinance_) February 23, 2026

Market reaction

The news has sent shockwaves through the Solana community.

Token holders are reeling from the impact, particularly STEP token investors, whose asset has collapsed nearly 100% since the breach.

 

 

Remora Markets’ token holders, however, may be able to redeem their rTokens for USDC, as these assets remain fully backed.

Step Finance has also announced plans for a buyback program for eligible STEP holders based on a pre-hack snapshot.

The shutdown highlights the fragility of some projects in the Solana DeFi ecosystem.

It also underscores the broader risk of centralised treasury management, even within decentralised finance platforms.

Solana price reaction

The price of Solana (SOL) has shown noticeable weakness in the wake of these developments.

Over the past 24 hours, SOL has dropped below $77, a level that had previously served as key support.

Despite this, Solana’s trading volumes remain robust, reflecting heightened activity as investors reassess positions.

Derivatives data indicate growing bearish sentiment with rising long liquidations and a long-to-short ratio falling below 1, suggesting that shorts currently dominate the market.

Funding rates in futures markets have also turned negative, reinforcing the downward pressure on SOL.

In addition, institutional players appear to be taking a measured approach, as US spot SOL ETFs see modest inflows.

This accumulation hints that some investors see the recent dip as a potential buying opportunity, even amid broader uncertainty.

SOL price forecast

While some institutional support exists, SOL faces immediate technical hurdles and key levels that could determine its next direction.

SOL’s technical indicators signal a cautious outlook.

Notably, the cryptocurrency is trading below both its 50-day and 200-day EMAs, signalling a bearish trend, and the Relative Strength Index (RSI) is near oversold levels, suggesting momentum is heavily skewed toward sellers.

As a result, traders should watch the $75 mark closely as it represents a critical support level.

If this level fails to hold, SOL could see further downside toward the $63-51 range, according to Coinlore’s analysis.

On the upside, a rebound would need to overcome resistance near $91, with a more significant recovery targeting $102.

Short-term volatility is, however, likely to remain high given the recent ecosystem shocks, and investors should pay attention to both price action and on-chain metrics to gauge the resilience of SOL amid these challenges.

The post SOL price outlook as three Solana platform announce shut down after Step Finance hack appeared first on CoinJournal.

• SEC hires ex-Chainlink lawyer Taylor Lindman to head Crypto Task Force counsel.
• LINK rebounds near $8 but is still down about 51% over the past year.
• Chainlink (LINK) price analysis shows support at $6.80 and resistance near $8.19.

Chainlink (LINK) has rebounded slightly, though it is still in the red as the US SEC taps Chainlink’s veteran Taylor Lindman to head the Crypto Task Force counsel.

At press time, LINK was currently trading at around $8.18, recovering slightly from a low of $8.13. This rebound comes amid broader market volatility that has seen LINK fall roughly 51% over the past year.

SEC taps Chainlink veteran for crypto regulation

The US Securities and Exchange Commission (SEC) has appointed Taylor Lindman, formerly a senior legal officer at Chainlink Labs, as chief counsel for its Crypto Task Force.

Lindman brings over five years of experience in blockchain and regulatory compliance.

He played a key role in advising Chainlink on legal matters and navigating complex digital asset regulations before his departure in February 2023.

Lindman’s move to the SEC signals that regulators are increasingly interested in professionals with hands-on experience in decentralised finance (DeFi) and smart contract ecosystems.

SEC Commissioner Hester Peirce, who leads the Crypto Task Force, welcomed Lindman’s appointment.

Analysts suggest that Lindman’s expertise could influence future guidance and enforcement actions around digital assets.

LINK price performance

The market appeared to respond positively with institutional investors, including firms like Grayscale, steadily accumulating LINK tokens.

The continued institutional interest, combined with Lindman’s transition to the SEC, has reignited confidence in Chainlink’s long-term positioning.

Short-term technical indicators show that LINK recently found support at around $6.80, while the resistance at $8.19 has limited upward movement in the past.

The rebound above $8 could open the door for higher price action, while a fall below $6.80 might signal further downside risk.

Short-term LINK price prediction

With regulatory developments and institutional interest converging, LINK is drawing attention from both traders and long-term investors.

Its price movement over the next few weeks will likely reflect a mix of market sentiment, technical pressure, and evolving regulatory signals.

For short-term traders, analysts have highligted $6.80 as the immediate key short-term support level to watch. Holding above this level would suggest that the market is stabilising after recent volatility.

If LINK can break through the $8.19 resistance, the next target would be $9.51.

A sustained move above $10.80 could indicate stronger bullish momentum, attracting further buying interest.

On the downside, if the $6.80 support fails, traders should monitor the $5.38 zone as a potential safety net.

Price action around these levels will be critical in defining LINK’s short-term trend.

The post LINK price rebounds as SEC taps former LINK lawyer to head crypto task force appeared first on CoinJournal.

• BNB coin struggles below $600 as regulatory noise clouds short-term sentiment.
• Falling stablecoin reserves point to weaker liquidity and cautious traders.
• A key Binance coin price support sits near $573, while bulls must reclaim $597 to regain momentum.

Binance Coin (BNB) is under pressure as the broader crypto market flashes mixed signals.

As the BNB coin continues to fall, recent exchange data from CryptoQuant shows that stablecoin reserves held on the Binance crypto exchange have fallen to their lowest levels in several months.

Falling stablecoin reserves raise liquidity concerns

Stablecoins are often treated as dry powder in the crypto market.

When reserves decline on major exchanges, it usually means capital is being pulled out rather than positioned for new buys.

The latest drop in Binance’s stablecoin balances suggests traders are either de-risking or waiting on the sidelines.

This reduction in available liquidity can weaken short-term price support across major assets, including Binance Coin.

Lower reserves also reduce the market’s ability to absorb large sell orders, increasing the risk of sharper moves during periods of volatility.

For BNB, this matters because its price tends to be closely linked to activity and confidence on the Binance platform.

Bitcoin inflows and shifting trader sentiment

As the stablecoin reserves on Binance drop, Bitcoin balances on Binance have climbed to their highest levels since late 2024.

An increase in BTC held on exchanges is often interpreted as potential selling pressure or preparation for active trading.

This shift can increase short-term volatility across the market and spill over into altcoins like BNB coin.

Combined with falling stablecoin reserves, it paints a picture of traders repositioning rather than aggressively buying.

Such an environment usually favours range-bound trading instead of strong trend moves.

Market hesitation

Binance Coin has failed to hold above the $600 level, a zone that had acted as support earlier in the year.

Although momentum indicators like the Relative Strength Index (RSI) suggest selling pressure has cooled slightly since the coin is currently oversold, there is not enough buying pressure to confirm a trend reversal.

While buyers appear active near lower support zones, follow-through has been limited.

This type of price behaviour often precedes either a consolidation phase or a sharper move once liquidity returns.

BNB coin price forecast

The BNB price forecast now depends heavily on how it reacts around well-defined technical levels.

The first level traders should watch, according to analysts, is $573.49, which has acted as short-term support.

A clean break below that area could open the door for a move toward the next support near $543.03.

On the upside, $597.41 remains the key resistance level that bulls must reclaim.

A decisive move above that zone would likely encourage a push toward $619.48, with $642.11 standing as the next major resistance.

However, as long as stablecoin liquidity remains tight, upside moves may struggle to sustain momentum.

The post BNB coin price outlook as Binance stablecoin reserves hits lowest levels appeared first on CoinJournal.