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BTC $64,067.90 +0.78%
ETH $1,722.75 -0.09%
BNB $586.37 +0.11%
XRP $1.12 -0.23%
SOL $73.54 +2.90%
TRX $0.3263 +0.46%
DOGE $0.0830 -0.64%
ADA $0.1608 -0.95%
BCH $198.21 -0.01%
LINK $7.93 +0.06%
HYPE $67.73 -4.16%
AAVE $74.55 +0.06%
SUI $0.7080 -1.09%
XLM $0.2122 -1.11%
ZEC $450.59 -4.67%
BTC $64,067.90 +0.78%
ETH $1,722.75 -0.09%
BNB $586.37 +0.11%
XRP $1.12 -0.23%
SOL $73.54 +2.90%
TRX $0.3263 +0.46%
DOGE $0.0830 -0.64%
ADA $0.1608 -0.95%
BCH $198.21 -0.01%
LINK $7.93 +0.06%
HYPE $67.73 -4.16%
AAVE $74.55 +0.06%
SUI $0.7080 -1.09%
XLM $0.2122 -1.11%
ZEC $450.59 -4.67%

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Data: The Coinbase Bitcoin premium index has been negative for 44 consecutive days, setting a new record for the longest continuous negative streak, with the latest report at -0.1089%

According to Coinglass data, the Coinbase Bitcoin premium index has been in the negative premium range for 44 consecutive days, with the latest value at -0.1089%. This index measures the deviation of the BTC price on Coinbase (a mainstream compliant platform in the U.S.) relative to the global average price. A sustained negative value indicates heavy selling pressure in the U.S. market, a decline in risk appetite, capital outflows, or rising risk aversion.Historical data shows that long-term negative premiums are often accompanied by the exit of institutional funds from the U.S., necessitating caution regarding short-term pullback pressure. Darkfost, an author on the CryptoQuant platform, stated that there is a lag in institutional demand for BTC. The Coinbase premium index is primarily used to assess the demand for Bitcoin among professionals and institutions. By comparing BTC prices on Coinbase Advanced and Binance, you can directly understand the purchasing behavior of these users.Negative data indicates that the amount sold by institutional investors exceeds that of retail investors, while retail investors are mostly active on the Binance platform, and their behavior has led to the decline in the price of the Coinbase premium index. Previously, this index was in negative premium for 40 consecutive days from January 16 to February 24 this year, setting the record for the longest "consecutive negative" since the index was launched, surpassing the approximately 30 days of consecutive negative premium during the "1011 crash."

Secret Network lost 4.67 million dollars due to a cross-chain vulnerability, and the attack went undetected for seven days

The blockchain research organization Common Prefix disclosed that on June 10, hackers exploited a vulnerability in the Secret Network and Axelar cross-chain bridge contract to forge deposits and mint uncollateralized tokens, subsequently cashing out approximately $4.67 million.The attack went undetected for seven days until a normal cross-chain transfer failed due to insufficient funds in the escrow account on June 17, revealing the anomaly. The root of the vulnerability lies in the fact that when the contract changed from an escrow model to a minting model, it deleted two key functions responsible for verifying the source of transfers, and it had never undergone an external audit since its deployment in early 2023. Secret Network pointed out that the Axelar bridging infrastructure failed to trigger any effective anomaly monitoring or emergency pause mechanism before the assets were stolen on a large scale.The stolen funds were routed through Osmosis to Ethereum and exchanged for ETH on CoW Protocol, then dispersed into exchanges such as KuCoin, ChangeNow, and HitBTC. Currently, approximately $672,000 remains in the attackers' Axelar wallet. Secret Network has requested Axelar to freeze that address, but the request was denied. Axelar emphasized that its core protocol was never affected, and the exploited contract was not developed or maintained by Axelar. Currently, Axelar has disabled the related cross-chain connections and stated that it is coordinating follow-up actions with exchanges and law enforcement agencies.
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