Nostra Hack Triggers Starknet Price Surge Amid Broader Bullish Momentum
A recent exploit on the Nostra DeFi protocol has led to a surge in Starknet (STRK) prices, up by nearly 21% after reaching $3.5 million. The incident allowed a user to manipulate oracle prices on Starknet, impacting various assets tied to STRK and its derivatives.
The Nostra team has begun reviewing their collateral and oracle systems following the exploit, which integrated Chainlink Price Feeds for STRK and other major tokens. This review aims to address the vulnerabilities that led to the hack and ensure similar incidents are prevented in the future.
STRK/USD is currently trading above its 20-day, 50-day, and 200-day moving averages at $0.0282, $0.0262, and $0.0336 respectively. This indicates renewed bullish momentum across short, medium, and long-term trends, with immediate resistance at $0.0376 and support at $0.0336.
Momentum indicators are broadly positive, with the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) both pointing to buying strength. The Relative Strength Index (RSI) is at 52.34, signaling neutral-to-bullish conditions.