Sui Foundation Stays Neutral as $162M Hack Recovery Proposal Heads to Vote
The Sui Foundation, the team behind the Sui Layer 1 blockchain, has chosen to remain neutral on a controversial governance vote regarding the recovery of over $162 million in digital assets linked to a major exploit. The decision comes as the community weighs a proposal that would allow the return of hacked funds — a move with wide-reaching implications for network governance and precedent-setting.
The funds in question are reportedly connected to an exploit of a prominent DeFi protocol built on Sui. The incident raised serious concerns over smart contract vulnerabilities and the broader security practices across the ecosystem. While law enforcement and forensic blockchain teams have traced and frozen the assets, their ultimate fate now rests in the hands of token holders.
The proposal, which is currently being voted on via on-chain governance, suggests redistributing the funds back to impacted users. Advocates say this move would restore user trust and demonstrate the resilience of the Sui network. Critics argue it could undermine decentralization principles and create a risky precedent for intervention.
The Sui Foundation’s neutral stance underscores its commitment to decentralization, stating that "ultimate authority must rest with the community." The foundation has also reaffirmed that it will not use its token treasury to influence the outcome.
As the vote continues, the situation serves as a crucial test for Sui’s young governance framework, highlighting the balance between ethical responsibility and decentralized decision-making in the evolving Web3 landscape.
#xrp Drops 300 Million Tokens in 24 Hours – What Happened?
XRP is feeling the heat. In just 24 hours, the amount of XRP used in real transactions dropped by nearly 300 million tokens. Just a few days ago, XRP was processing over 700 million tokens daily. But on May 22, that number fell to 412 million. So, what’s going on?
Technical Growth vs Real Use
XRP has shown strong signs in the charts. It broke out of a long downtrend and went above important price averages like the 50-day and 100-day EMAs. It even climbed above the 200 EMA, which is often a sign of a trend reversal.
But there’s a problem — the real-world usage is dropping.
Price Going Up… But Not the Use
Even though the price looks strong, the number of transactions (which shows how much people are actually using XRP) is going down. This may mean less demand from big investors or fewer users overall. Earlier this month, both price and usage were rising together — now, they’re moving apart.
Key Level to Watch: $2.30–$2.35
For XRP to stay strong, it needs to hold above the $2.30–$2.35 range. This zone is close to its 100 EMA and where the breakout happened. If it bounces from here, it could go up to $2.60 or more. But if it drops below, it might fall to around $2.15–$2.20.
Why XRP Matters for the Market
XRP is one of the most used payment tokens. So, changes in its usage often reflect how people feel about using crypto in real life — not just for trading. A drop in XRP activity can be a sign that the overall altcoin market might be slowing down.
Still Room to Grow?
The RSI (Relative Strength Index) shows that XRP isn’t overbought yet, meaning there could be more room for price to go up. But without more people using XRP for actual transactions, this rally might not last long.
Bottom Line: XRP needs to see more real use on the blockchain to turn this recent price breakout into a strong, lasting rally. Keep an eye on network activity and volume — that’s where the real story lies.
عنوان: "Stop Loss Lagana Seekho: Apne Capital Ko Bachane Ka Asli Tareeqa"
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BEFORE ALT SEASON YOU MUST KNOW THIS! Top 4 Fundamentally Strong, Undervalued Altcoins Near Bearish Trend End
As alt season approaches, here are 4 high-potential altcoins showing strong fundamentals and currently sitting near bearish trend bottoms—with #RSI < 30, indicating possible reversals.
1) The Graph (GRT) Powering #Web3 data indexing for DeFi platforms like #Uniswap. Why watch: Critical infrastructure + rising developer activity + increasing TVL.
2) Algorand (#ALGO_USDT ) Scalable, carbon-negative chain with #Institutional traction (CBDCs). Why watch: High TPS, low fees, and real-world adoption by governments.
3) Hedera (#HBARUSD ) Enterprise-grade DLT backed by #Google, IBM, used in supply chain/finance. Why watch: 10,000+ TPS and a governance model built for trust.
4) VeChain (#VETUSDT ) Supply chain leader with clients like BMW and Walmart China. Why watch: Real-world adoption and proven enterprise use cases.