BTC remained unaffected by the absence of interest rate hikes as market panic led to a temporary dip below the $25,000 support level. However, BTC is currently holding below the upward trendline on the daily chart. In the event of a reversal and upward movement, BTC faces resistance near $27,000. Short-term analysis hinges on whether BTC can break through the $25,700 level.
Today’s Cryptocurrency Headline
EigenLayer Has Deployed a Restaking Protocol on the Ethereum Mainnet
According to CoinDesk, DeFi platform EigenLayer has deployed its restaking Protocol on the Ethereum mainnet. The protocol enables ETH stakers to engage in restaking by depositing liquidity staking tokens such as Lido stETH (stETH), Rocket Pool ETH (rETH), and Coinbase Wrapped staking ETH (cbETH). Currently, the protocol supports both liquid restaking and native restaking. Restaking allows users to utilize their staked ETH on other protocols in exchange for protocol fees and rewards.
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