Secret Network Proposes Move to Ethereum Layer-2 Arbitrum
- Escalating Security Risks: The Secret Network team highlighted that the rise of artificial intelligence has significantly increased the security risks associated with aging code, prompting their consideration to migrate to Ethereum's Arbitrum to mitigate potential attack vectors.
- Declining Liquidity: The team noted that liquidity on Cosmos has thinned considerably, with many developers drifting to other ecosystems, while Arbitrum offers deeper liquidity and stronger tooling support, positioning it as the new focal point for development.
- Governance Vote Proposal: Secret Network has proposed a migration plan, intending to take a snapshot of SCRT balances on September 1 to issue a new ERC-20 SCRT contract on Arbitrum, aiming to provide a more stable ecosystem for SCRT.
- DeFi Value Shrinkage: The total value locked in the Cosmos ecosystem is around $2 billion, down 88% from its peak in 2021, while Arbitrum boasts a total locked value of $17.4 billion, highlighting the stark contrast between the two ecosystems.
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Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00719 | 0.0124 | 0.0168 | 0.022 | 0.0264 | 0.0316 | 0.036 |
| Fibonacci | 0.0124 | 0.0161 | 0.0183 | 0.022 | 0.0257 | 0.0279 | 0.0316 |
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