Biggest Movers: ATOM Climbs to Highest Point Since May, While SOL Rises by Over 10%

Cosmos rose to its highest point since May earlier in today's session, as crypto markets surged on Thursday. The global market cap is trading over 6.27% higher as of writing, with bullish sentiment sweeping through. Solana was trading over 10% higher in today's session .

Timeline of Cosmos, Solana

Austin, TX, United States, 11th August, 2022, Chainwire Jito Labs, an MEV infrastructure company building performant systems to scale Solana, has completed a $10M Series A. The round was led by Multicoin Capital and Framework Ventures with participation from Alameda Research, Solana Ventures, Delphi Digital, MGNR, Robot Ventures, and 18decimal.

Jito Labs, which is building infrastructure to mitigate the negative impact of MEV on Solana, has raised a total of $12.1 million. The post Solana MEV infrastructure developer Jito Labs raises $10 million appeared first on The Block.

The third-party Solana wallet Slope has admitted to a critical vulnerability on its mobile product but denied finding any “conclusive evidence” linking the vulnerability to the $5 million Solana wallet exploit from earlier this month.

Solana (SOL/USD) price rebounded on Thursday as investors reflected on the latest US consumer inflation data. It rose to $45.07, which was the highest point since July 30th of this year. This price is about 71% above the lowest level in June this year, bringing the total market cap to over $15.40 billion.

After two failed attempts to break above the $44 level, Solana is back at it again. Key Support levels: $40, $35  Key Resistance levels: $44, $59 The bulls are seemingly very eager to push the price higher.

The Solana wallet provider said that it plans to hunt down the hacker and try to make its users whole. The post Slope: No ‘conclusive evidence' tying $4 million Solana hack to its own security flaw appeared first on The Block.

ATOM has been one of the favorite cryptocurrencies for swing traders since mid-June. This is because it has been gradually recovering from its bottom range but in predictable price swings between support and resistance.

Solana (SOL) wallet Phantom says that the $4 million exploit that affected over 8,000 users last week doesn't appear to have anything to do with its infrastructure. According to Phantom, an investigation launched into the hack unveiled no evidence that its system was compromised during the exploit.

Price movement for Solana (SOL) looks outright bullish but at the same time sluggish as it's unable to keep up with buyer demands.   Solana is currently trading sideways forming an ascending triangle pattern.

Phantom has clarified that its systems were not compromised during the wallet exploit. The post Solana wallet provider Phantom says its systems were uncompromised in $4 million hack appeared first on The Block.