Drift Protocol: Plans USDT Relaunch
Drift Protocol secures up to $147.5M from Tether for relaunch with USDT settlement after North Korean exploit, boosting Solana ecosystem recovery.
SourceDrift Protocol, hammered by a North Korean exploit last quarter, just locked in a funding lifeline up to $147.5 million from Tether and its partners to relaunch with USDT as the core settlement layer. This move slams the door on recent vulnerabilities while positioning the Solana-based DEX for a aggressive comeback in the volatile crypto trading arena, directly tying into broader Solana ecosystem recovery trends that have traders eyeing SOL price prediction amid ongoing crypto market volatility. With Bitcoin dominance hovering, this injection could ripple into cross-chain liquidity plays, especially as BTC tests its own resistance levels.
Zooming into the SOL 4-hour chart, price action clings to a bullish structure with the EMA50 at $83.85 acting as immediate support and the EMA200 at $84.46 reinforcing that long-term floor—confluence here screams upside protection. MACD's golden cross at 0.51 fuels the momentum push, but with RSI at 61.21 sitting neutral and price probing the upper Bollinger band resistance near $87.33, expect a tactical pullback to test that lower support at $81.91 before bulls reload for the next leg up, mirroring the resilience we're seeing in protocols like Drift amid broader market chops.
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