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Cryptosolana Bearish

Solana DeFi Hack Sends $STEP Token Into Freefall

Strykr AI
··1 min read
Solana DeFi Hack Sends $STEP Token Into Freefall
35
Score
85
Extreme
High
Risk

Strykr Analysis

Bearish

Strykr Pulse 45/100. Major security breach and volatile market conditions weigh heavily. Threat Level 5/5.

Solana’s DeFi ecosystem took a brutal hit as the Step Finance treasury wallets were exploited, leaking $30M and sending the $STEP token into a nosedive of over 80%. This breach is a stark reminder that even top-tier layer-1 chains are vulnerable to sophisticated hacks. Traders dumped $STEP en masse, shaking confidence in Solana’s DeFi security.

The crypto market overall is jittery. XRP saw a 74% spike in volume but remains down 30% from its monthly peak, while Chainlink slumped 22% below $11. Bitcoin’s long-term holder supply ticked up amid bearish dynamics, and Japan’s bond market turmoil threatens to trigger forced Bitcoin liquidations. The broader crypto landscape is a minefield of risk and opportunity.

Strykr Pulse 45/100. Security breaches and macro shocks keep crypto traders on edge. Threat Level 5/5. Only nimble traders with tight risk controls should engage.

Sources (5)

Ripple CTO David Schwartz Denies Any Jeffrey Epstein Links to XRP or Stellar Networks

Executive confirms no evidence of meetings between Ripple, Stellar personnel and Epstein associates

blockonomi.com·Feb 1

We Asked 4 AIs: Will XRP Crumble Below $1 in February? The Answers Worried Us

XRP is already down by 30% from its peak this month.

cryptopotato.com·Feb 1

700% SHIB Rally Ahead? Shiba Inu Once Again Hits Legendary Bottom From 2021 and 2024

After a brutal end-of-the-week sell-off, Shiba Inu (SHIB) is once again circling the same accumulation band that sparked two of the most vertical rall

u.today·Feb 1

Bitcoin LTH Supply Rises Again Amid Bearish Market Dynamics

The Bitcoin market experienced a shockingly dramatic weekend, as opposed to the typical silent price action displayed in previous weekends. On Saturda

newsbtc.com·Feb 1

Chainlink slips below $11 after 22% sell-off – Can LINK bulls defend THIS zone?

As the market wobbled, Chainlink's breakdown exposed a clash between price damage and positioning.

ambcrypto.com·Feb 1
#solana#defi-hack#step-finance#crypto-security#step-token-crash
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