Bitcoin is experiencing increased selling pressure as exchange inflows hit a 30-day high. On April 27, net inflows reached 9,905 BTC, the highest daily level in a month, according to CryptoQuant. This surge coincides with Bitcoin struggling near the $78,000 resistance zone. The Exchange Whale Ratio also rose to 0.707, indicating significant activity from large holders. As of now, Bitcoin is trading at $77,152, down 0.7% in the past 24 hours.
In the DeFi sector, LayerZero Labs has pledged $23 million to aid recovery efforts following a major exploit affecting Kelp DAO. The firm will donate 10,000 ETH to an Aave-led initiative, with half supporting liquidity on Aave. This follows a $292 million exploit involving a sophisticated attack on LayerZero’s verification system, resulting in significant bad debt for Aave.
Bitcoin Exchange Inflows Surge as LayerZero Commits $23M to DeFi Recovery
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