A group of Solana (SOL) verifiers are facing financial penalties for allegedly facilitating financial attacks against cryptocurrency traders. More than 30 validators were removed from the Solana Foundation’s delegation programme over the weekend, sources said. While they remain verifiers on the network, they are no longer eligible for rewards for verifying Solana blockchain transactions.
Sandwich attacks involve placing one order before a transaction and then another order immediately after the transaction. Attackers will place the first pending transaction between simultaneous front-end and back-end transactions to manipulate the price of the asset and profit from the difference. Tim Garcia, head of verifier relations at Solana, announced on Discord that he would be removing verifiers, stating that ‘participation in a private pool of memory to sandwich attack transactions or otherwise compromise the integrity of Solana users will not be delegated.”
A Jito Foundation governance post published on Sunday revealed that 10% of the JitoSOL pool is delegated to validators running private memory pools, and the Jito Foundation is proposing to impose further financial penalties on these validators by restricting more pledged SOLs.
Market Trends: BTC oscillates at high levels as Altcoins generally fall
BTC: After breaking above $70,000 early this morning there was a pullback and it is now consolidating around $69,400. In the short term, it will probably oscillate in the $68,000-$70,000 range, waiting for the release of this week’s CPI data to choose a new market movement.
ETH: Currently oscillating around $3,660 with a relatively stable trend. It is likely to fluctuate in the $3,600-3,700 range in the short term.
Altcoins: generally down, market sentiment is relatively cold. Investors need to choose carefully and pay attention to market hotspots and individual strong coins.
Macroeconomics
U.S. Stocks Higher: Investors are waiting for the release of CPI data on Wednesday, which is expected to have a big impact on the market.
CPI data: CPI data is an important economic indicator, which may affect the market’s expectations of inflation and monetary policy, thus affecting the trend of the crypto market.
Risk Warning:
The crypto market is volatile, investors need to be cautious and avoid chasing highs.
Pay close attention to macroeconomic data, such as CPI data, which may have a greater impact on the market.
Pay attention to changes in market sentiment and adjust investment strategies in a timely manner.
Macro: S&P 500 and Nasdaq hit new closing highs; Fed meeting and CPI coming soon
On Monday, 10 June, Reuters reported: the S&P 500 and the Nasdaq still hit new closing highs on Monday, despite investor caution ahead of this week’s upcoming Consumer Price Index (CPI) report and the Federal Reserve’s policy statement.
In terms of specific indexes, the Dow Jones rose 0.2 per cent, the S&P 500 index rose 0.3 per cent and the Nasdaq rose 0.4 per cent.
Nvidia, which drove the Nasdaq and S&P 500 up, closed up 0.7 per cent after a ten-share stock split. Some investors believe the chipmaker is likely to be included in the Dow Jones blue chips.
May’s Consumer Price Index report will be released on Wednesday, when the Federal Reserve’s two-day policy meeting concludes. The Fed will release its latest economic and policy projections and is expected to leave interest rates unchanged. Investors will be watching for clues as to when the Fed will start cutting rates.
On Tuesday 11 June, Asian markets look set to continue to be restrained by rising bond yields, political turmoil in Europe, a stronger US dollar, and caution ahead of the Federal Reserve’s policy decision later in the week.
Nonetheless, Japan’s economy started the week on a strong note, coming off the back of higher-than-expected revisions to first-quarter GDP and an across-the-board decline in the yen for Japanese government bond yields.
Tuesday’s economic data mainly consists of South Korean current account data, Philippine trade data and Australian business confidence data.
Japan’s revised GDP data on Monday will boost market confidence in the Japanese economy and increase expectations that the Bank of Japan will push ahead with policy normalization at its policy meeting later in the week. Japan’s 10-year government bond yield rose 4.5 basis points on Monday, the biggest gain in two months and enough to reverse half of last week’s decline.
Record closing highs on Wall Street and strong U.S. Treasury yields should continue to support the U.S. dollar, a combination that could put more pressure on emerging market assets.
On Friday, both the CSI 300 blue-chip index and the Shanghai Composite Index fell to their lowest points in six weeks. With Chinese stocks closed on Monday, Tuesday’s opening could see sharp volatility as investors catch up on gains over two global trading days.
In commodities, oil prices rose on Tuesday, extending the previous day’s gains on expectations of increased seasonal fuel demand and the possibility of U.S. crude purchases to replenish its oil reserves, but gains were limited by a stronger dollar. Brent crude futures were up 28 cents to $81.91 a barrel, while U.S. West Texas Intermediate crude futures were up 31 cents to $78.05 a barrel.
Oil prices rose about 3 percent to a one-week high on Monday, driven by expectations of higher demand for fuel this summer, despite a stronger dollar on expectations that the Federal Reserve will keep interest rates higher.
Gold was just above one-month lows at $2,306 an ounce.
Extracted from Gateio Research article…
