The crypto industry has mobilized to contain the fallout from the $292 million KelpDAO exploit, with multiple protocols pledging support. According to Prism Market Lab, Mantle, EtherFi Foundation, Golem Foundation, Lido DAO, Ethena, LayerZero, Ink Foundation and Tyrdo have all made pledges to the "DeFi United" recovery effort. Aave's founder has pledged 5,000 ETH of his own money as part of the growing coalition racing to contain the fallout. The coordinated response demonstrates the industry's commitment to addressing security breaches and protecting user funds across the decentralized finance ecosystem.
According to reports from AMBCrypto, LayerZero (ZRO) experienced a 5.18% rally on Friday, April 24, recovering from a bearish week that saw the interoperability protocol token shed 20% within three days. The recent price movement came after a $292 million exploit involving the KelpDAO bridge, representing 116,500 rsETH worth of losses. As reported by AMBCrypto, KelpDAO blamed LayerZero's RPC nodes and the 1-of-1 Decentralized Verifier Network for the security breach.
As reported by AMBCrypto, ZRO has been trading within a range throughout 2026, extending from $1.47 to $2.28 with a mid-range level at $1.88. The token has already grazed the lows of this range, with another retest possible. The Chaikin Money Flow (CMF) has struggled to climb above +0.05 in the past two months, reflecting lack of steady capital inflows and seller dominance. The Directional Movement Index shows both ADX and -DI lines above the 20-threshold, while the MACD is in freefall below the zero line to reflect bearish momentum over the past two weeks.
According to AMBCrypto's technical analysis, a sweep of the $1.35-$1.50 local lows is possible soon, which could provide a bullish short-term reaction. The report suggests that a breakdown below $1.35 is possible given recent events, but traders should avoid rushing to short the token near range lows. In February, ZRO swept the $1.35 region before rallying towards the range high around $2.30, with another similar pattern possible. The analysis indicates that until a breakdown of the established range occurs, traders can anticipate a bounce from current lows.
