DEGEN Token Holds Strong Despite Degen Chain’s Block Production Halt

• Degen Chain’s halt in block production for over 11 hours raises concerns about its operational stability.
• Despite the setback, DEGEN token has shown resilience in its market performance, with a 3.69% increase in the past 24 hours.
• Technical indicators like RSI and MACD suggest a neutral to bullish sentiment for DEGEN, indicating a potential price recovery.

Wu Blockchain, a crypto news reporter, brought to light that the L3 blockchain Degen Chain has halted block production for more than 11 hours, with the reason behind it still undisclosed. Degen Chain, developed by Syndicate and formerly supported by a16z, operates on Arbitrum Orbit. Degen Chain’s Gas token, DEGEN, serves as the principal currency of Farcaster.

The L3 blockchain Degen Chain has stopped producing blocks for more than 11 hours, the reason is unknown. Degen Chain was built by Syndicate, which was once invested by a16z, using Arbitrum Orbit. Its Gas token DEGEN is the largest coin of Farcaster.https://t.co/tpMYeGzQ9j

— Wu Blockchain (@WuBlockchain) May 13, 2024

Despite the fallout, the DEGEN token’s market performance remains resilient. DEGEN’s current price is $0.018955, and its 24-hour t…

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