StepN suffers DDoS attack
More recently, the “money while you exercise” game StepN has made a name for itself with its Solana-based sneaker NFTs. Just this past weekend, the game was hit by a massive distributed denial of service (DDoS) attack. The StepN team first disclosed the issue on Twitter on Saturday, declaring that it “had a network issue.” Many users were mistaken for bots due to network congestion after servers were hit by 25 million DDoS attacks in a short period of time. In a follow-up tweet, StepN said the team is still working to fix the issues, as “it can take anywhere from 1 to 12 hours to secure the servers and fix the issues.”
The main cryptocurrency market saw a slight recovery in trading volume over the past weekend. BTC snapped a nine-week losing streak and closed 1.5% higher than where it opened a week earlier. The most valuable cryptocurrency by market capitalization gained more momentum on Monday morning (Asian trading hours). At the time of writing, BTC stabilized above $31,000 after gaining 5% in a few hours. However, some analysts believe that BTC’s price action will remain subdued until it can gain a foothold above the $31,000-$32,000 area. In addition, there was a large amount of Bitcoin flowing into exchanges over the weekend, and CDD inflows from exchanges also hit a 17-month high.
Likewise, ETH has gained 4.6% over the same period and is now slowly recovering in an attempt to test resistance at the $1,900 mark. Major non-mainstream tokens are also largely on the rise, with ADA and AVAX leading non-mainstream tokens by double-digit percentage gains.
In the derivatives market, the funding rates of perpetual contracts on various major exchanges have trended downward, but have remained largely in the middle zone. Meanwhile, options skew has also declined as Bitcoin rallied over the weekend, suggesting an easing of extreme bearish sentiment. Despite the volatility, the Gamma Exposure values for BTC and ETH remain in positive territory.
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April 24, 2024
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